Coding inaccuracies lead to claim delays and denials,Why Accuracy Matters in Medical Coding Articles and compromised patient care. Some serious consequences include legal actions, lawsuits, penalties, hefty fines, and even imprisonment.
Let’s have a look at what medical coding is and why accuracy in it is important to the upkeep of hospitals and other medical offices.
What is Medical Coding?
Medical coding is a Healthcare Digital Marketing process of transforming important information related to the collection of payment from insurance providers, including healthcare diagnosis, procedures, treatments, medical services, medications, and equipment, into numeric or alphanumeric codes.
This information is taken from different sources like the transcription of practitioner’s notes, medical record documentation, electronic records, laboratory, and radiologic results, urinalysis, pathology as well as radiologic assessments etc.
All the standardized codes need to accurately correspond to each aspect of medical billing for accurate claim reimbursement.
Why Must Medical Coding Be Accurate?
Here are some of the important reasons why medical coding is important to be optimally accurate and compliant with current laws, regulations, and medical codes.
Ensures Accurate Reimbursement
Since healthcare providers are paid by insurance carriers for their services on the basis of standardized codes assigned to a patient’s diagnoses, treatment, and equipment, the claims should be coded with the highest degree of accuracy to accelerate the reimbursement process.