Medical Billing is a constantly booming industry and only those who are in it know that 2014 is going to be an important year for them. It is because the new diagnostic coding system, ICD-10, will come into action on October 1, 2014 and will change the billing structure altogether. Medical practices will no longer be able to submit claims as per ICD-9 after September concludes and will have to code under the new system.
Experts agree that medical practices will have to dual code for some time in order to shift to the new system. This means that there will be a period after October 1, 2014 where medical billing coders will have to use dual coding in order to keep the businesses operating smoothly.
Let’s give you a few tips through which you can easily dual code for your medical billing business.
Benefits of Dual Coding
- Internal systems can be tested fully through dual coding.
- System testing can highlight circumstances for physicians and others who make entries in the clinical chart for clinical documentation improvement (CDI).
- Using dual coding helps medical billing staff to practice using ICD-10 codes. The ICD-9 codes serve as reminders for the proper ICD-10 codes.
- Parallel ICD-9 and ICD-10 coding creates up-to-date data that is useful when negotiating contracts with payers. This also gives confidence to medical practices that reimbursements do not change dramatically after the October 1, 2014 deadline.
- The use of dual codes helps physician practices prepare to take part in external tests with insurance payer and clearinghouses.
One thing medical billing businesses must remember is that dual coding is costly in terms of man-hours, system development and can cause a slowdown in medical billing practice operations. However, smart practice managers and owners look to solutions such as Medical Billing Service in order to mitigate dual coding costs and issues.