Myth #1
A medical coding services company is more expensive than in-house staff.
With a preponderance of medical coders, many executives believe using in-house staff is less expensive than investing in a coding partnership. Here’s why that’s not the case.
Coding Errors Increase Cost and Denial Risk
Unqualified and inexperienced coders increase payer denials and recoupments. High coding error rates raise red flags for targeted audits and poor quality scores.
Fully Loaded Budgets Cost More than Outsourcing
Benefits, training, onboarding, continuing education and more. In-house budgets fully loaded are higher than most medical coding services fees.
Internal Coding Auditor Salaries are Higher
In-house staff must be managed and audited by highly trained coding experts. Additional time and money are a necessity.
Myth #2
Offshore is cheaper than domestic.
Around 2012, healthcare executives began to look more closely at cost savings to offset the looming expense of ICD-10 preparation. Possible revenue cycle interruptions, productivity concerns and cash flow worries led to unprecedented offshore medical coding services usage in 2015 and 2016. Healthcare organizations were willing to take any resources that they could find. The offshore boom uncovered a new issue—the cost of quality coding.
A study across six health systems calculated the disadvantages to offshore. Here are a few stats from the study below or you can download the full white paper here.
per week vs. 150 per week
Denied claims with domestic versus offshore coders, respectively
third party audit challenges
averaged this percentage
additional hours per coder
per month of auditing required for offshore coders due to poor accuracy results
Our Coding Partnership Approach
Customize a coding plan that will most cost-effectively handle your varying coding requirements.
Help you contain operating expenses and maximize return on your coding investment.
Contribute to improved health care through more responsive, more accurate and more definitive coding.
GUARANTEED RESULTS
Your search stops here for coding a partner that understands your challenges, has the coding support you need now, and helps streamline your revenue cycle.
Learn more about our medical coding services.