How does autonomous coding improve revenue cycle?

 


A survey revealed that healthcare organizations anticipate that autonomous coding will accelerate the revenue cycle process and enhance coding accuracy.

Although autonomous coding has the potential to streamline revenue cycle processes and alleviate administrative burdens, a majority of healthcare finance leaders surveyed either lack familiarity with it or harbor reservations about fully trusting this automated tool.

A survey conducted by Revenue cycle management company in collaboration with the Healthcare Financial Management Association (HFMA) involved over 450 healthcare finance professionals, seeking to gauge their understanding and anticipated outcomes related to autonomous coding.

Only 47.9 percent of healthcare organizations reported familiarity with automated claims coding, and among them, 18.6 percent had limited knowledge of its specifics. A majority of respondents, 52 percent, were unaware of autonomous coding altogether.

The coding process stands out as the most labor-intensive component of revenue cycle management. Given the current staffing shortages experienced by finance leaders in their revenue departments, the shift towards automation in this area is a predictable response.


https://www.allzonems.com/how-does-autonomous-coding-improve-revenue-cycle/

Comments

Post a Comment

Popular posts from this blog

2023 Scary ICD-10 Halloween codes For Physician

Image
  With Halloween right around the corner, be on the lookout for some of these incidents that may require new ICD-10 codes. ICD-10 CM Code W49.01 – HAIR CAUSING EXTERNAL CONSTRICTION W49 . 01XA  is a billable ICD  code  used to specify a diagnosis of hair causing external constriction, initial encounter. A ‘billable code’ is detailed enough to be used to specify a medical diagnosis. ICD-10 CM Code X99.2 – ASSAULT BY SWORD OR DAGGER X99.2 is a non-billable ICD-10 code for  Assault by sword or dagger . It should not be used for HIPAA-covered transactions as a more specific code is available to choose from below. More specific codes – 7th Character selection: The appropriate 7th character is to be added to each code from category X99 Use X99.2XXA for initial encounter Use X99.2XXD for subsequent encounter Use X99.2XXS for sequela ICD-10 CM Code R44.1 – Visual Hallucinations R44.1  is a billable ICD code used to specify a diagnosis of visual hallucinations. A ‘billable code’ is detailed eno
Read more

Medical Coding Strategies to Prevent Payer Denials

  As a former emergency department physician from the U.K., this individual was well aware of claim denials and rejections, with payers frequently withholding or reducing payments. However, it was only when his personal insurance company, denied his medical claim for a vitamin D test that he decided to delve deeper into the issue. He found it challenging to comprehend how Cigna could make such a decision when the physician reviewer had limited knowledge about his medical history. The individual had been experiencing severe pain in his hips and acetabulum, with his physician suspecting a vitamin D deficiency. Following the payer’s instructions, he appealed the denial, but unfortunately, health insurance upheld its initial decision. It was only after seeking an independent external review that finally reversed the denial. The external reviewer concluded that the test was medically necessary, considering the severity of the bone pain and the risk of bone fracture without vitamin D supplem
Read more

Medicare ASC Payment System 2024 Update: New HCPCS Codes & Changes

Image
  Get ready for new codes , updated categories , and a few surprises : Pass-through power:  Five new devices (C1600-C1603) join the pass-through party, while some old friends (C1825, C1052, etc.) say goodbye. Remember to use the January 2024 ASC code pair file for billing. Biology guides the beam:  A new code (C9794) shines a light on radiation therapy guided by biology, including PET and CT scans. Dentists get dialed in:  104 new dental codes (CDT) are now accepted in the ASC system, with special indicators for ancillary services and non-office procedures. Don't forget code G0330 for facility fees on dental rehab, but keep it separate from medical billing  charges. In short, there's plenty to keep you busy in the new year!  This update gives you more options for billing various procedures and devices, so be sure to brush up on the details to ensure smooth sailing with Medicare. Key changes: More engaging and accessible tone. Replaced technical jargon with plain language. Used
Read more