There are many other factors influencing the future role of the medical coder in the United States, probably more so than AI. 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. As technology continues to disrupt healthcare, there are bound to be changes in the way medical billing and coding … The trend with the most potential to change the healthcare industry is artificial intelligence (AI). This is just one study, however, and there are others that tout offshore outsourcing. Medical coder is a highly paid job profile as far as US healthcare industry is concerned, and this practice is now spreading across the world in a fast pace, creating millions of new job opportunities. This type of AI uses natural language processing (NLP) to recognize and extract data from medical documents for coding and billing purposes. In fact, it’s been quite the contrary. Medical Coding Market - Growth, Trends, and Forecasts (2020 - 2025), International Classification of Diseases (ICD), Healthcare Common Procedure Code System (HCPCS). Hence, the escalating demand for coding jobs is likely to drive the market studied across the world. Although the technology is relevant, it has a long way to go and is not presently capable of improving data accuracy without coders. “Coding is contextual (not consistent) and utilizes non-text inputs pulled from various sources, all of which encumber NLP efforts,” Erickson says. 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… Moreover, the population is aging … Future-proof your career in the business of healthcare with these tips: 1. To understand geography trends, Download Sample Report. “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. Data shows how coding … “Why the Current Healthcare Industry Outsourced Coding Model Delivers a Suboptimal Result.” Sept. 3, 2019. https://himaginesolutions.com/why-the-current-healthcare-industry-outsourced-coding-model-delivers-a-suboptimal-result, AHRQ newsletter Issue No. 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. A panel of coding experts and health information management (HIM) professionals met in early June to answer this question and others. “CAC does provide streamlining to coding,” Steed says. 724. Ever-evolving medical billing and coding services, complicated healthcare RCM and stressful account receivables have become more complex. The technological advancements in the healthcare industry and constantly changing classification systems are expected to create potential revenue opportunities for players operating in the target market over the forecast period. Also, most entities are seeing increased denials because the provider has documented conditions that do not appear supported by clinical evidence. A medical coder extracts the information from patients’ medical records and converts … Nobody can truly predict the future, though, and COVID-19 proved that. In addition, assigning medical codes creates troves of detail-rich data that can be used for research, analysis, and treatment. EHR Integration/Interoperability. “With increased opportunity to work remotely, U.S. members have opportunity to secure work and help countries with developing (or evolving) healthcare systems. 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. 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. “Is Offshore Coding Really Saving You Money?” White Paper.https://kiwi-tek.com/whats-trending/domestic-vs-offshore, https://www.imagineteam.com/blog/the-future-of-medical-billing-in-2019-5-trends-you-should-consider-now, https://www.hfma.org/content/dam/hfma/document/article/PDF/54648.pdf, https://www.healthleadersmedia.com/revenue-cycle/3-elements-needed-revenue-cycle-future, Healthcare Tech Outlook, “Artificial Intelligence Meets Medical Coding,” Aug. 10, 2020, https://www.healthcaretechoutlook.com/news/artificial-intelligence-meets-medical-coding-nid-1895.html, https://www.healthleadersmedia.com/revenue-cycle/how-covid-19-kicked-open-digital-front-door-memorial-health-system, BLS, Employment Projections 2019-2029,https://www.bls.gov/news.release/pdf/ecopro.pdf, BLS, Economic News Release Employment Situation Summary Nov. 6, 2020,https://www.bls.gov/news.release/empsit.nr0.htm, BLS, Occupational Outlook Handbook, https://www.bls.gov/ooh/healthcare/medical-records-and-health-information-technicians.htm, https://www.optum.com/content/dam/optum3/optum/en/resources/ebooks/3rd-annual-ai-survey.pdf, DiMarco, Michael. Grow your network – you’ll absolutely need it. This survey also indicates that “56% of health care executives believe AI deployment will create jobs, not destroy them ….”. And nearly everyone is held to a 95 percent or higher accuracy rate. Embrace technology; learn to work with it. That wouldn’t be advisable, writes KIWI-TEK Chief Operating Officer Bill Wagner in a 2018 blog for Healthcare IT Today. But, once again, Erickson sees opportunity. 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. Not everyone is ready to ride the AI wave, though. Report scope can be customized per your requirements. ICD-10 means more accurate medical billing and coding, which could translate to more jobs and higher medical billing salaries. Wagner says he learned the hard way that offshore outsourcing is not cost-effective. “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. Stay in growth sectors – healthcare is the best place to be right now. “I believe more coders will be needed, but they will need to be highly trained to work in the areas that are most complex.”. 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! 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 … Accept change and overcome adversity – it’s coming whether you want it or not. It is the unrealistic demands placed on many coders that have led industry leaders to look for ways to automate claims processing. History tells us that every shift to automation creates new jobs. Many organizations want someone who knows what their medical billing and coding staff go through. Will medical coding be completely outsourced eventually? At the conclusion of the study, each participating organization realized a 1 to 3 percent loss in revenue while using offshore coders. Let’s consider that for a moment. “Coding Accuracy: Study Reveals Differences Between Domestic and Offshore Coding.” 2018. https://www.healthcareittoday.com/2018/03/23/coding-accuracy-study-reveals-differences-between-domestic-and-offshore-coding-him-scene/#google_vignette, Wagner, Bill. “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. “However, as any computerized program, it can only process what is entered. 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. The need for ICD is increasing across the world, owing to a growing prevalence of diseases. ICD‑10 has … Medical coders continue to play an important role in accurate documentation, owing to their knowledge of medical procedures and terminology. Level up – push your limits, stack skills, evolve. The next update to this international standard, ICD-11… But fear not. COVID-19 has certainly fast-tracked healthcare into the “digital age,” but it also has required us to regroup and reassess our priorities. The number of professional coders is expected to rise significantly over the forecast period, thus boosting the number of companies providing platforms for medical coding professionals. 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. Only now is ‘surprise billing’ a topic that is recognized, discussed, and hopefully eliminated. In print production and content management surfaces to the presence of many local providers offering a wide array services. “ this places coding professionals is to continue to stay abreast of the changes in POS..! 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