The billing cycle, the payment cycle and payor-clean claims should be major areas of emphasis for any orthopedic center, said Woody Runner, CEO of Kerlan-Jobe Orthopaedic Clinic, at the 9th Annual Orthopedic, Spine and Pain Management-Driven ASC Conference in Chicago on June 9.
There are multiple points of failure and leakage in revenue flows, Mr. Runner said. Concentrating on point-of-service revenue and finding a consistent methodology for coding can help facilities overcome those barriers.
Mr. Runner said the future of coding may lead to even more complicated billing. ICD-10, which is scheduled to take effect Oct. 1, 2013, will feature 69,000 codes, approximately 55,000 more than ICD-9, he said.
"The level of complexity is going to be significant," Mr. Runner said. "Inaccurate or under-informed coding delays bill generation."
Mr. Runner said historical practices may not hold up in the future, but effective application of technology change management will lead to efficient results for high volume orthopedic centers.
Related Articles on Coding, Billing and Collections:
Coding Inaccuracies That May Put Orthopedic, Spine and Pain Management-Driven ASCs at Risk With the OIG and RACs
CMS Issues Hints for Crosswalking ICD-9/ICD-10 Codes
Preparing Your Surgery Center for ICD-10: Part 3
There are multiple points of failure and leakage in revenue flows, Mr. Runner said. Concentrating on point-of-service revenue and finding a consistent methodology for coding can help facilities overcome those barriers.
Mr. Runner said the future of coding may lead to even more complicated billing. ICD-10, which is scheduled to take effect Oct. 1, 2013, will feature 69,000 codes, approximately 55,000 more than ICD-9, he said.
"The level of complexity is going to be significant," Mr. Runner said. "Inaccurate or under-informed coding delays bill generation."
Mr. Runner said historical practices may not hold up in the future, but effective application of technology change management will lead to efficient results for high volume orthopedic centers.
Related Articles on Coding, Billing and Collections:
Coding Inaccuracies That May Put Orthopedic, Spine and Pain Management-Driven ASCs at Risk With the OIG and RACs
CMS Issues Hints for Crosswalking ICD-9/ICD-10 Codes
Preparing Your Surgery Center for ICD-10: Part 3