What Is The Latest Medical Coding News of 2023?
The healthcare industry is a constantly evolving landscape, and the world of medical coding is no exception in this. As healthcare professionals, it’s your duty to keep up with all the latest adjustments and news as they’re happening in order to avoid breaching any regulations.
In this article, we’ll be shining some light on some of the most important medical coding news to keep in mind throughout the rest of the year so your practice can remain HIPAA compliant. From some of the more exciting developments in technology to the addition of new codes medical services, we’ll be covering all you need to know to prevent your revenue cycle management getting impacted.
So, if you’re trying to keep your small medical practice ahead of the curve in an industry that never stands still, read on for some of the latest updates.
Changes To Medical Coding Guidelines
In terms of medical coding news, there’s a seemingly endless list of adjustments made for CPT codes, so it’s always vital to know what’s changed. Remember, changes don’t strictly pertain to new codes being added; old codes can be tweaked or removed too.
As a result, it’s fairly important that you refresh yourself on the basics, even if you’ve used these codes in the past.
New Codes For Telehealth Services
These services have become among some of the most important developments for the industry, with the wake of Covid-19 having played a great role in accelerating the trend. To reflect the rising prevalence of telehealth services across America, the Centers for Medicare and Medicaid Services (CMS) have added a range of new codes specific to their usage.
Now, healthcare providers like yourself will be able to accurately bill patients for any virtual check-ups and remote evaluation services provided, meaning those in rural or remote areas have a much more direct line to healthcare resources. Furthermore, the recent medical coding news about telehealth services creates an opportunity for your practice to increase its bottom line by catering to remote patients, so it pays to stay up to date on the new medical codes.
Changes To Chronic Care Management Codes
For patients with any chronic medical conditions like diabetes or heart disease, the availability of chronic care management cannot go unnoticed. To reflect this growing necessity, CMS have implemented a range of new chronic care management codes with the aim of streamlining the medical billing process for healthcare professionals, hopefully making it easier to bill for these services.
These news codes will go a long way in providing flexibility for both you and your patients, creating a relationship between each other that’s conducive to profitable medical practice.
Updates To Evaluation & Management Codes
Anytime medical practices have to document and bill for patient visits, evaluation and management (E/M) codes are utilized – and in 2023, there’s been significant updates to these codes. In general, these changes simply aim to minimize the amount of administrative burdens for healthcare providers, and the American Medical Association does this by simplifying some documentation requirements for certain types of visits.
As an example, certain elements for patient history and examinations will become more relaxed depending on the nature of their visit, making it a lot easier for your medical staff to prioritize patient care.
Impact on Healthcare Providers and Patients
So, how will the latest medical coding news impact your practice and patients? Are there any major ripple effects? Well, the short answer is yes – it’s vital that you and your staff are familiarized with all the new codes and regulatory changes for the year to ensure your billing processes stay relevant.
While it’s slightly less urgent than ensuring you’re compliant with all the new regulatory changes, it’s also vital to start thinking about how these changes may affect your patients and their access to services.
For instance, you may have to send your patients an email to let them know more about your telehealth services and how this might benefit them. In addition, the changes made for chronic care management codes can ultimately lead to much more coordinated and comprehensive care for your patients, so it reflects positively on your practice to inform them about this.
Adapting to the New Guidelines With PMN
With all the latest medical coding news and implications that come with it, it’s no easy task to stay informed with the most recent developments and changes. Unfortunately, though, failure to comply with any new CPT codes can result in denied claims for your practice, so it’s in your best interest to stay on top of this.
So, how best can you do this when working with limited resources? It’s simple, outsourcing – specifically with PMN! Their team of certified coders are constantly on the lookout for any updates to the coding system, helping to ensure accurate billing and compliance in every step of your payment process. What’s more, outsourcing plays a big role in freeing up your staff’s time, meaning they can focus more on their patient care.
Outside of keeping up to date with changes in current procedural terminology, PMN also offers services such as A/R management, patient collection, and physician services. Providing you with a range of personalized reports and analytics, your practice is also able to gain some insight into your financial performance, letting you make more data-driven decisions.
What Is Medical Coding?
In the healthcare industry, medical coding is a complex process in which standardized codes are assigned to various medical diagnoses and services provided by the healthcare professionals. For medical practice owners, outsourcing a certified professional coder can be paramount in streamlining your medical billing, ultimately improving your bottom line.
What Is The “Prolonged Services” CPT code?
Simply put, these are codes used when a physician provides additional time and effort beyond the usual service to manage a patient’s care. The latest update to this code set has extended the time threshold for each unit of service, making it a lot easier for your physicians to bill for the time they spend on complex patient care.