Outsourcing Medical Coding: Pros and Cons
Medical practices often face the decision of outsourcing medical coding, but the journey can be both rewarding and challenging. For those accustomed to maintaining control over in-house teams, the shift to outsourcing might seem daunting. However, striking a balance between control and collaboration can lead to positive outcomes for both sides.
Pros of Outsourcing
Cost Efficiency: Outsourcing can save on overhead costs like training and staff benefits, allowing resources to be redirected to patient care.
Expertise: Outsourcing companies specialize in medical coding, ensuring accuracy and compliance with ever-evolving regulations.
Focus on Core Activities: Practices can concentrate on patient care and core operations, letting experts handle coding intricacies.
Scalability: Outsourcing allows practices to adapt quickly to changes in volume without the need to hire or lay off staff.
Time Savings: Streamlined coding processes can lead to faster reimbursement and reduced revenue cycle times.
Cons of Outsourcing
Loss of Control: Letting go of in-house control can be unsettling, especially for practices used to overseeing their coding teams.
Communication Challenges: Remote collaboration may lead to communication gaps, potentially impacting understanding and compliance.
Cultural Alignment: Aligning the values and practices of the outsourcing company with those of the practice can be a challenge.
Security Concerns: Protecting patient data is crucial; outsourcing requires stringent data security measures.
Transition Period: Adapting to an outsourced model might involve a learning curve and initial disruptions.
Finding the Balance
Outsourcing doesn't mean relinquishing control entirely. Establishing a partnership based on transparency, open communication, and shared goals can ensure both parties' success. Clear objectives, comprehensive goal maps, and agreed-upon KPIs lay the foundation for a fruitful collaboration.
Prioritizing Integrity and Profitability
Above all, the goal is to maintain the practice's profitability for the benefit of patients. Revenue integrity is paramount, and practices must prioritize accuracy over rushing charges. The transparency with stakeholders and management should revolve around the core value of maintaining integrity even if it means extending coding timelines.
Supporting Your Team
Empower your coding team to be efficient and productive, but avoid pushing them to the point where errors compromise performance. A well-supported team is more likely to deliver accurate results and contribute to a successful partnership.
In the end, outsourcing medical coding is a strategic decision that can benefit both practices and outsourcing companies. The key is to foster a collaborative approach that ensures accuracy, efficiency, and, most importantly, the best patient care possible.
Contact coding@healthcareinspiredllc.com to discuss what portion of your coding can be outsourced if needed. We enjoy helping practices analyze their data to provide support in complex cases, modifier applications, medical necessity required based on local and federal third party payers, identify supported E/M levels, and additional missed opportunities such as preventative services.
