Wagner, Bill. The international classification of diseases (ICD) segment is expected to register a significant share, in terms of revenue, over the forecast period, owing to the increasing demand for trained medical coders. ICD‑10 has … And then there’s the compliance factor. Will medical coding be completely outsourced eventually? … In addition, data security is a major concern for healthcare organizations, and offshore coding companies are also becoming aware of these data security concerns while understanding that breach in a client's data is likely to result in the loss of business. The top three applications healthcare executives plan to tap for AI use, according to Optum’s third annual survey on AI in healthcare, are: Of these three applications, Optum’s survey shows that using AI to improve reimbursement coding is hospitals’ top priority. Gaze into our crystal ball …. When you see that next wave swelling, don’t panic and paddle in the opposite direction. The Centers for Medicare & Medicaid Services (CMS) will continue to add and revise these programs, such as the Quality Payment Program, based on usage patterns, according to Aubry. Although the healthcare sector was affected by the COVID-19 pandemic in 2020, we believe the industry will recover and then rebound in the next year or two. Medical coding is thus being increasingly used in the present scenario, to create a proper record of patient care, streamline the medical billing process, accelerate payments to physicians, and identify … “KIWI-TEK partnered with six hospitals and health systems to answer the coding industry’s toughest question: ‘Who delivers higher coding accuracy, domestic or offshore outsourced coding services?’” The study results showed an accuracy rate of 90.5 percent for outsourced offshore coding compared to 96.5 percent for outsourced domestic coding. EHR Integration/Interoperability. Individuals in the medical field may be well aware of the fact that there have been a number of coding changes in the recent years. Although the technology is relevant, it has a long way to go and is not presently capable of improving data accuracy without coders. The next update to this international standard, ICD-11… As per the scope of the report, medical coding is the transformation of healthcare diagnosis, procedures, medical services, and equipment into universal medical alphanumeric codes. “As our insurance reimbursement methodologies continue to shift toward quality over quantity, we need people who are trained in documentation improvement and are able to not only abstract information from a record but also go back to the providers to teach them when there are documentation shortfalls that will become costly in the future,” says Kirshner. As a contributor you will produce quality content for the business of healthcare, taking the Knowledge Center forward with your knowhow and expertise. “Additional complexity associated with ICD-10 implementation, regulation, and the shift to value-based reimbursement models more than offset CAC productivity gains, and coding complexity continues to increase.”, The science will continue to evolve, however, and so too will coders’ job responsibilities. Wagner conducted a study to prove his point. AAPC National Advisory Board President-elect Colleen Gianatasio, CPC, CPC-P, CPMA, CPC-I, CRC, CCS, CCDS-O, sees these trends as opportunities. COVID-19 has certainly fast-tracked healthcare into the “digital age,” but it also has required us to regroup and reassess our priorities. The Future for Medical Billing and Coding Jobs With all the wonderful government data saying that medical billing and coding jobs are growing at 15% nationwide, it is easy to just assume that … How Technology is Shaping the Future of Medical Coding The implementation of electronic health records is reshaping the field of health information management and opening up many new opportunities. And nearly everyone is held to a 95 percent or higher accuracy rate. Excel at virtual – at least half of AAPC membership will remain remote even after COVID. This survey also indicates that “56% of health care executives believe AI deployment will create jobs, not destroy them ….”. “This places coding professionals in a wonderful place to start or expand their careers. The truth, … Renee has more than 20 years experience in print production and content management. In the future… The business side of healthcare is no exception. Hence, this segment is expected to grow in the future, due to the rising growth of medical coding across the world. “My advice to coding professionals is to continue to stay abreast of the changes we are experiencing. Everything is in a state of decay unless you’re putting constant energy back into it. Aug. 4, 2020. https://www.ahrq.gov/news/newsletters/e-newsletter/724.html, The George Washington University School of Business. The major factors found propelling the growth of the market include the escalating demand for coding services, rising need for a universal language to reduce frauds and misinterpretations associated with insurance claims, and high demand to streamline hospital billing procedures. “The final results showed that, despite what seems to be a much lower hourly rate for offshore coders, the total cost is much higher when all factors are taken into consideration.”. “AI is important,” she says, “but I do not think it has reached the level of accuracy required to code neurosurgery, for example.”, Optum’s survey may be a bit overzealous. Click here. To that end, some of the more influential health systems have implemented, or are considering implementing, computer-assisted coding (CAC). “In facilities using AI,” Aubry says, “I see the coder’s role becoming more of an auditor responsible for reviewing cases to be sure the software performs accurately.”, Physician coding auditor, educator, and consultant Angela Clements CPC, CEMC, CGSC, COSC, CCS, AAPC Fellow, is also optimistic. The rapidly increasing COVID-19 cases and hospitalizations have put immense pressure on medical … If you put stock in statistics, you’ll be reassured by the numbers that indicate medical coders are in high demand and will be increasingly so in the future. Technology has advanced medical coding and highlighted the importance of medical coders. “With the increased focus on value-based and patient-centered care, I see the career of coding expanding at an exciting rate,” she says. Your career is just one example. 5. If you were to ask your parents or anyone born in the baby boomer era, they would probably tell you that your medical billing and coding training will involve a lot of paperwork. Medical coders continue to play an important role in accurate documentation, owing to their knowledge of medical procedures and terminology. “The key is to be a coder who is flexible and can change with the times. As evidence, BLS reports in a Nov. 6, 2020, Economic News Release that healthcare employment increased by 58,000 in October 2020. Overall, medical billers and coders still have a future in continuing to help the US healthcare system save money, improve patient care and lead the world in efficiency. What we learned is encouraging, especially for those of you who are not afraid to tread in uncharted waters. Many U.S. coders fear they will lose their jobs to offshore coders. According to BLS, employment for medical records and health information technicians (i.e., medical coders) is projected to grow 8 percent from 2019 to 2029, which is “much faster than average.”. I have not seen a decrease, but rather an increase in coding opportunities, as we have moved from the paper world to the electronic world.”, As with all new technology, there will be a learning curve. Medical coding, for example, was very different 20 years ago than it is today, and it will be different still 20 years from now. 6. “Coding is contextual (not consistent) and utilizes non-text inputs pulled from various sources, all of which encumber NLP efforts,” Erickson says. ICD-10 means more accurate medical billing and coding, which could translate to more jobs and higher medical billing salaries. Aubry believes “the pandemic has only begun to teach us important lessons. They’re responsible for conducting audits and reviews to ensure accurate coding and prevent rejected claims due to coding errors. Ever-evolving medical billing and coding services, complicated healthcare RCM and stressful account receivables have become more complex. In short, coding creates good and valuable data. But fear not. With companies banning together to create end-to-end revenue … We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination. Medical coding for social determinants has the benefit of systematically documenting the external factors that may impact a patient’s health and create challenges in their interactions with the health care system or barriers to obtaining recommended treatments. Growth for medical … Accept change and overcome adversity – it’s coming whether you want it or not. Here’s what surfaces to the top of our list: These mergers do not consolidate the need for medical coders, however. What do you think lies in store … There’s an increased demand for managers in the billing and coding field who can offer first-hand experience. Also, most entities are seeing increased denials because the provider has documented conditions that do not appear supported by clinical evidence. I believe coders will need to be more informed about these areas and query for clarification to protect revenue.”, Barbara Aubry, RN, CPC, CPMA, CHCQM, FABQAURP, AAPC Fellow, a senior regulatory analyst for 3M Health Information Systems, agrees that AI has some growing up to do. According to the World Health Organization (WHO), cardiovascular diseases is the number one cause of death globally, taking an anticipated 17.9 million lives each year. To understand geography trends, Download Sample Report. 4.2.1 Escalating Demand for Coding Services, 4.2.2 Rising Need for a Universal Language to Reduce Frauds and Misinterpretations Associated with Insurance Claims, 4.2.3 High Demand to Streamline Hospital Billing Procedures, 4.3.1 Changing Regulations Related to Medical Coding, 4.3.3 Lack of Adequately Equipped IT Professionals, 4.4.2 Bargaining Power of Buyers/Consumers, 5.1.1 International Classification of Diseases (ICD), 5.1.2 Healthcare Common Procedure Code System (HCPCS), 7. Thus, the market seems to be highly fragmented, due to the presence of many local providers offering a wide array of services. Technological advances are making it easier and faster for medical providers to access a patient’s … Veteran auditor, inpatient coder, and college professor Dorothy D. Steed, CCS, CDIP, COC, CPCO, CPUM, CPUR, CPHM, CPMA, ACS-OP, CCS-P, RCC, RMC, CEMC, CPC-I, CFPC, PCS, FCS, CRCR, CICA, CPAR, is not convinced that AI alone is capable of improving accuracy and efficiency in medical coding. Good companies should welcome that communication and be willing to work to meet that challenge.”, Melissa Kirshner, MPH, CPC, CDEO, CRC, CPC-I, Approved Instructor, AAPC Fellow, sees EHRs limitations daily. “The key is to always be evolving in your role. We are looking for thought leaders to contribute content to AAPC’s Knowledge Center. 2. In the near future an entry-level associate degree or coding certificate likely won't be enough education to land a job. “I believe more coders will be needed, but they will need to be highly trained to work in the areas that are most complex.”. Medical coding is a key component of revenue cycle management. Nobody can truly predict the future, though, and COVID-19 proved that. I presume more care will transition to outpatient and telehealth, which is not a bad thing for many patients, but new codes and rules will develop to accommodate those POS.”. Using a wave analogy, certain trends in healthcare have been swelling for some time now and will peak soon, while others are still stirring underwater, waiting for the right time to surface. The North American market is estimated to hold the largest share, in terms of revenue, over the forecast period, owing to technological advancements and improved healthcare infrastructure in various countries in this region. So, what does that mean for medical coders? “Had EHR vendors asked more doctors and nurses how they used charts during the initial software development process, there would be far fewer user complaints and burnout now,” Aubry contends. Your email address will not be published. “Open and receptive communication from clinicians, HIM/coding/billing front-line professionals, back to the vendor is essential for improvement in accuracy and functionality of software. Earn CEUs and the respect of your peers. Medical coding is an in-demand job The Bureau of Labor Statistics predicts that the job outlook between now to 2024 for health information technician and medical records is 15%. “CAC penetration is over-stated by inclusion of software in broader bundles sold to systems,” AAPC CEO Bevan Erickson says. Many coders are being held to extremely high standards that are hard to fathom. After spending time with so many HIM professionals at the AHIMA Annual conference, I’ve come back thinking about the future of medical coders. Coders will need to code, work coding edits, work coding denials, and appeal denials. No doubt, many HIM professionals are moving … Wagner says he learned the hard way that offshore outsourcing is not cost-effective. Medical coders play a vital role in these companies. Hence, the escalating demand for coding jobs is likely to drive the market studied across the world. The current international standard for medical coding is ICD-10 (the tenth version of International Classification of Disease codes), from the World Health Organization (WHO). “How We Can Expect the Healthcare Industry to Change in the Future.” 2020. https://healthcaremba.gwu.edu/blog/how-we-can-expect-the-healthcare-industry-to-change-in-the-future. “EMR systems will never be able to intricately think through all of the documentation requirements and nuances for surgical services. Examples include acute blood loss anemia with no evidence of transfusion of blood products or iron supplements; and acute respiratory failure with no evidence of vent, BIPAP, CPAP. While medical billing software is an integral part of any practice, … The push for quality data is placing an emphasis on the role of medical coders to serve as a go-between with CDI specialists and clinicians. I see problems with current versus history of conditions based on provider statements. 8. The field of medical billing and coding is growing as a result of a number of factors, chief among them being an aging population, an increasing focus on health data and informatics, and the digitization of health records. This group convened as part of AHIMA’s transformation, a process that involves the creation of the “Coding Change Story,” a task force designed to envision the future of co… The largest gains occurred in hospitals (+16,000), physicians’ offices (+14,000), dentists’ offices (+11,000), and outpatient care centers (+10,000). Take electronic health records (EHRs), for example. But change is inevitable. Obtaining new certifications shows your dedication to your profession and gives you the edge in securing new and exciting opportunities.”. Some medical coders may even teach a class to show healthcare employees how to avert coding errors in the future… This system of medical coding ensures that healthcare … Level up – push your limits, stack skills, evolve. Renee Dustman, BS, AAPC MACRA Proficient, is an executive editor at AAPC. It is the unrealistic demands placed on many coders that have led industry leaders to look for ways to automate claims processing. A panel of coding experts and health information management (HIM) professionals met in early June to answer this question and others. The "Medical Coding Market - Growth, Trends, and Forecast (2019 - 2024)" report has been added to ResearchAndMarkets.com's offering.. Follow her on Twitter @dustman_aapc. Telehealth during a pandemic is a good example of the changes in POS.”. Future-proof your career in the business of healthcare with these tips: 1. Future Growth Of Medical Billing And Coding Companies In The USA The ongoing COVID-19 pandemic has created many challenges for healthcare providers in the United States. Poor communication continues to be the downfall of AI. Required fields are marked *. The best place for medical coders to place their attention is an area of coding that they are passionate about. To help you with this, we did some research on industry trends and spoke to several long-time AAPC members to get their perspectives on the future for medical coders. Data shows how coding … According to the American College of Cardiology (2017), cardiovascular disease accounts for 800,000 deaths in the United States. In addition, assigning medical codes creates troves of detail-rich data that can be used for research, analysis, and treatment. I see continued growth opportunities for coders in the future! What does AI mean to medical coders? “Poor coding quality also increased payer denials with additional management time required to onboard, train and audit the outsourced offshore coders,” writes Wagner. Based on everyone’s comments on the post, the consensus is that quotas depend on the specialty and place of service (POS) — radiology and inpatient coders are expected to process far more claims than family practice coders, for example. Because of this, there are many Physicians in US that have started to wonder what the future of medical … See what actually is going on in the healthcare business job market. Medical coding is the step in the medical billing process that assigns codes to insurance claims so that a patient’s insurance can be correctly billed. With passion comes a love for not only your job, but for your career as well! At the conclusion of the study, each participating organization realized a 1 to 3 percent loss in revenue while using offshore coders. Medical coding is thus being increasingly used in the present scenario, to create a proper record of patient care, streamline the medical billing process, accelerate payments to physicians, and identify the healthcare areas that require focus. Medical coding … Stay in growth sectors – healthcare is the best place to be right now. “We realized you cannot ensure 100% compliance with all of the HIPAA requirements of a security risk assessment … if you’re using offshore,” according to Wagner. Medical coders are sought after in a variety of healthcare organizations, and those opportunities and avenues continue to grow. Let’s consider that for a moment. Automation and the Future Trends in Healthcare for Medical Billers Medical billing is moving in the direction of absolute automation. Report scope can be customized per your requirements. According to an Oct. 30, 2020, post on AAPC’s Facebook private group page, productivity and accuracy expectations run the gamut across settings — anywhere from two charts per hour to 1,000 charts a day! When done efficiently and accurately, it helps ensure hospitals are properly reimbursed for the services they provide. Be prepared to go solo – could you today? Other factors include onboarding, training, and auditing. EMRs will not be able to interpret a provider’s thought process for medical decision making or work with them to do a better job at documenting it.”. 4. Medical Coding Market - Growth, Trends, and Forecasts (2020 - 2025), International Classification of Diseases (ICD), Healthcare Common Procedure Code System (HCPCS). Higher accuracy rate employer ’ s an increased demand for medical coders will remain remote even after COVID healthcare increased... Are passionate about employer ’ s challenges, not just your role energy back into.! 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