NEWS ROUNDUP: The Latest Medical Coding Updates (February 2023)
The medical coding world is always changing, like many industries.
As such, it’s important to stay updated about the latest news, changes and updates impacting the industry.
Never fear, that’s why we’re here.
Let’s break down some of the latest medical coding news and updates you’ll find online these days.
How this law reshaped medical billing, and what challenges remain for patients
One year ago, the United States marked a turning point for health care cost transparency with a new law aimed at helping Americans avoid unnecessary, unexpected medical debt. As of Jan. 1, 2022, health care providers and insurers are no longer allowed to sideswipe privately insured people with bills for out-of-network services.
Half of Patients with High-Deductible Health Plans Have Received an Unexpected Bill
Findings from a survey reveal shared negative experiences with surprise billing, billing estimates, and medical debt.
Social determinants of health and medical coding: What to know
Recognition of the impact that social determinants of health (SDOH) have on patients’ outcomes is growing, as is the desire to incorporate SDOH factors into patient-care plans. But awareness of an existing data infrastructure that could help physician practices do so is limited.
Update Your Skin Substitute Code List for 2023
The terminology to describe skin substitute products and the Medicare payment methodology did not change this year, but there are four new HCPCS Level II codes to add to your billing system. The new codes, effective Jan. 1, 2023, describe various manufactured allograft products used for the treatment of wounds.
Coding Drives Up Medical Billing Costs in the US
Another study confirms that medical billing costs in the US significantly exceed those in similar countries, but researchers now know why: coding drives up US administrative spending.
Hospices’ CERT Improper Payment Rate Up In 2022
If you’re wondering how much review pressure your hospice is likely to encounter this year, Medicare’s recent Comprehensive Error Rate Testing (CERT) report may tell you. Hospices clocked in with a 12.04 percent improper payment rate for 2022, equaling an estimated $2.9 billion in improper payments, said the Department of Health and Human Services (HHS) in its Agency Financial Report for fiscal year 2022. That’s up sharply from a rate of 7.77 percent last year.
If you’re interested in keeping your medical coding knowledge updated, be sure to check out Medical Coding Academy Online today!
