If your organization is failing to evaluate its coding procedures, it’s time to take note of the importance of conducting regular coding audits. Pursuing a monthly coding audit has numerous benefits for your team, saving your organization a significant amount of time and money. Most importantly, you’ll rest assured your coding department is maintaining the highest compliance standards in the industry.
According to this article in the Journal of AHIMA, here are three key reasons to invest in a monthly external coding audit:
Consistency and Compliance. Using an external coding audit will ensure that audits are completed consistently, regardless of changes that occur internally with staff. Outsourcing a coding audit also ensures your organization will maintain an audit program in compliance with all lawful regulations and protocols – even when organizational changes like staffing transitions take place.
Training and Development. Coding is constantly changing; therefore, it’s imperative that every member of your coding team continually learns and develops new skills to perform at the best of their abilities. No matter how experienced your coders may be, there is always room for improvement. Monthly audits cover everything from teaching ICD-10 to refreshing employees on how to complete a specific coding procedure.
Clinical Document Improvement. Coding audits provide detailed insight and feedback about areas of clinical documentation that can be improved. This includes identifying missed cases and making sure all coding data is recorded properly, including physician report cards, reimbursement and disease tracking, among other critical pieces of data.
Establishing a regular external coding audit will have a high return on investment, helping you maintain the best coding practices for the well-being of your organization. Most importantly, you’ll identify potential coding and documentation problems and reduce risk of lost revenue from denials.
Is your organization in need of an external coding audit?
Get in touch today and learn how MedPartners can assist your organization with all its cording needs.