Tips to Improve your HCC Coding today and Get Paid on time

Only when coding is done with extreme specificity, it will become easy to get a clear picture of the cost and status of the patient’s health. Specificity and accuracy will be needed for getting claims reimbursed by payers. It is important for practices to create a workflow so that HCC Coding becomes easy to implement. If your healthcare facility is struggling with HCC coding, then it is time to make necessary changes.

So if you feel that your coders aren’t doing HCC Coding correctly, then here are a few tips to consider:

•    Start by educating your physicians as well as coders about HCC Coding and prompt them to ensure that only the latest information gets documented.

•    It is important to encourage physicians and coders to stay abreast of the latest rules and regulations to ensure accuracy in HCC coding.

•    Updating of technologies is equally important because in case there is any issue with the EHR, efficiency of HCC Coding will go down significantly. So your practice needs to invest in the latest technology for improving workflow and ensuring that coding functionality remains high.

•    Physicians at the practice should be given training in time management as well. This is because providers already have enough work to handle in a day. If they are not able to invest some time in accurate and detailed document diagnoses and treatments then the coders won’t have what is needed to complete their job.

•    Another great way of ensuring that HCC Coding is done right and you are getting paid on time is to outsource the service to a third party. A reputed billing company will know the ins and outs of the coding industry. Their teams stay updated on the latest codes and regulations, and hire only the best of coders from the industry.

Your practice can either completely outsource the HCC Coding tasks to the billing company or just handle them the review and audit work to ensure that your in-house coders are on the right track. Irrespective of the services you choose, you can remain assured that a team of expert coders will be working dedicatedly to help you maximize revenue. They will ensure that you receive all the funds for each service you have offered to the patients. So what are you waiting for? Improve your HCC Coding today with the tips and get paid on time.

About 247 Medical Billing Services:

We are a medical billing company that offers ‘24/7 Medical Billing Services’ and support physicians, hospitals, medical institutions and group practices with our end to end medical billing solutions. We help you earn more revenue with our quick and affordable services. Our customized Revenue Cycle Management (RCM) solutions allow physicians to attract additional revenue and reduce administrative burden or losses.

Contact:
247 Medical Billing Services
Tel: +1 888-502-0537
Email: info@247medicalbillingservices.com

How does HCC Coding and Risk Adjustment Model works?

High reimbursement can be obtained only when HCC coding is accurate and there is proper documentation to capture the complexity of patient’s condition. Risk adjustment and HCC coding (Hierarchal Condition Category) model was mandated by the CMS in 1997. Today, the payment model plays a crucial role in insurance benefits and reimbursement scenario. Under this model, a risk factor score is assigned to individuals who have been diagnosed with a chronic or serious illness based on demographics or health conditions.

Risk Adjustment Model

HCC coding success is hugely dependent on how accurately and timely data is captured. It also depends on the proper tracking of a patient’s care and condition over a certain period of time.

How it works?

Health conditions of a patient are determined by ICD-10 diagnose that is submitted on claims by the physician. Based on the complexity of the patient’s condition, HCC codes allow payments to be risk-adjusted. Future financial utilization and risk is predicted by the risk adjustment model using a patient’s documented 12- month diagnostic coding history.

As per the risk adjustment model, demographics and diagnoses of a patient are used for determining a risk score. This is a relative measure of how costly that patient is being anticipated to be. For instance, a healthy patient will have a below-average Risk Adjustment Factor (RAF) score which means, revenue from the insurance premium is transferred from health patients to patients who have an above-average RAF score.

If chart documentation is incomplete or inadequate or if there is inaccurate diagnosis coding, then it will lead to lower risk score. Proper coding increases risk adjustment factor (RAF) scores and also helps improve the revenue flow of the practice.

When it comes to the risk adjustment model, payment rate of two patients in the same practice can differ. There are several factors on which this is based, determining the amount of work/risk involved in maintaining the patient’s health.

It is very important to ensure proper HCC capture and proper claims submission with codes that capture all manifestations of a chronic disease that a patient has. Since ICD-10 has increased code specificity along with requirements for detailed documentation, proper HCC capture has become vital.

Many practices are choosing to outsource HCC coding needs to a third party because it is helping them get timely revenue. They are also able to focus on quality care provision rather than worry about coding. 

About 247 Medical Billing Services:

We are a medical billing company that offers ‘24/7 Medical Billing Services’ and support physicians, hospitals, medical institutions and group practices with our end to end medical billing solutions. We help you earn more revenue with our quick and affordable services. Our customized Revenue Cycle Management (RCM) solutions allow physicians to attract additional revenue and reduce administrative burden or losses.

Contact:
 247 Medical Billing Services
 Tel: +1 888–502–0537
 Email: info@247medicalbillingservices.com