Billers and coders benefit from complexities of healthcare reforms

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Billers and Coders Benefit from
Complexities of Healthcare Reforms
Healthcare reforms are being introduced to enhance the quality of care and
reduce costs; however, these reforms are also posing challenges for providers. It
is making it difficult for them to procure payments and focus on quality care.
Failure to comply with the coding and billing changes is leading to revenue loss
and in order to get paid and stay abreast in business, demand for skilled coders
and billers has gone up.

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Practices are hiring skilled and certified coders and billers to ensure timely
reimbursements amidst all the changes in regulations, complex coding, escalating
costs and reduced reimbursement rates.
Industry facts
 Career opportunities for coders and billers are expected to increase by
20% by the year 2018
 Skilled billers and coders will be required to handle the responsibilities
associated with EHR
 Coding complexities will increase with ICD-10 implementation in 2015
 Affordable Care Act will pose several challenges for practices in 2014

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According to the Bureau of Labor Statistics Occupational Outlook Handbook,
employment rate of medical billers are set increase by 21% by the year 2020
Increase in aging population will continue to increase demand for coders and
billers
Healthcare Reforms that will affect billing, coding and reimbursement
 ICD-9 will get replaced by ICD-10 in October 2015, adding approximately
65,000 new codes that describe medical conditions and treatments
 Practices will have to implement HIPAA-5010 in place of HIPAA-4010 to
submit claims with the new set of codes in ICD-10

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 Level of accuracy in documentation should increase for complying with the
CMS payment updates for physicians treating patients for Medicare
Advantage Plan
 Yearly updates are scheduled for the CPT Code Book
 Classification of medical procedures will also change due to rising federal
regulations
 Number of claims filed will increase because of insurance coverage
expansion
More Job Opportunities with more Responsibilities
Job opportunities are definitely on the rise for coders and billers but it is coming
with additional job responsibilities. They will need certification and be trained in

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handling larger sets of codes and data. It is required for applying codes
appropriately so that practices get paid on time.
Coders and billers also need knowledge of denial management, tracking
rejections and generating claims rejection reports because these factors play an
important role in obtaining maximum revenue for physicians and thus reducing
the scope of losing thousands of dollars.
Preparing for billing and coding Complexities with MBC
MedicalBillersandCoders.com is the largest consortium of certified, well-trained
coders and billers offering billing solutions to practices. MBC has its own job
portal that provides job opportunities to coders and billers across all the 50

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states. Their coding and billing newsletter provides opportunities as well as
knowledge to coders about the changes in industry.
The coding experts at MBC are vigilant about the industry updates and are also
aware of the preferred area of training. They provide accurate solutions to
healthcare providers of all medical specialties.

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Related Posts:
 How Can Outsourcing Solve Medical Billing and Reimbursement
Challenges for Physicians in 2014?
 How can outsourcing help you Deal with Shortage of Trained
Medical Billers and Coders?
 Eliminate the Burden of Medical Billing and HIPAA Regulations with
a Billing Company

Billers and coders benefit from complexities of healthcare reforms

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Billers and coders benefit from complexities of healthcare reforms