Trends Impacting the Medical Coding Field and Billing

 

The introduction of new technologies and emergency responses has caused changes in almost all sectors but the one sector that gets changes rapidly to such responses is the healthcare sector. If you are looking to pursue a career in medical coding, it is important to stay updated and competitive by understanding and following the latest trends happening in the medical sector. Luckily for you, we have sorted and listed out some of the trends that are impacting the medical coding field and billing sector. If you have come for the trends, this is the right place to know what they are. So, let’s get started.

 

Understanding the Trends

 

The CPT Code Set

 

One thing we all can agree on is that the medical coding sector is an ever-changing field. As most of the health conditions, diseases, etc are represented as codes. The Current Procedural Terminology (CPT) code set is the uniform language for coding medical services and procedures and these codes are updated regularly every year. Therefore, medical coders have to be aware of the updates made. CPT codes are used to describe procedures and healthcare services, create medical charts, billing insurance companies, and accurately record patient data. Speaking of updates, The AMA has released its Current Procedural Terminology code set update for 2023 which has been in effect since January 1, 2023.

 

COVID-19 codes addition

 

We all know the impact caused by the COVID-19 pandemic. This had a direct impact on the healthcare sector. Being an ongoing medical condition, new medications, vaccines, and treatment procedures are developed which means new codes had to be created for them. These codes are now permanent additions to the CPT code set. Like always, those candidates looking to pursue this career field must know about the latest code updates and trends in order to stay relevant.

 

ICD Revisions

 

The International Classification of Diseases (ICD) is a globally recognized system for analyzing and tracking healthcare trends. It consists of codes and guidelines that enable healthcare professionals worldwide to share information. ICD codes are critical for determining available resources and securing payment from health insurance companies. As the ICD-11 came into effect on January 1, 2022, there have been significant updates to the systems. This may impact the way healthcare systems and professionals utilize it. As a medical coder, it is important to know and understand the latest trends and updates.

 

Outsourcing medical activities

 

The need for medical coders and billing staff is increasing each year. One of the recent trends in the healthcare sector is outsourcing their medical billing and coding needs to third-party companies for a lower fee. One of the main reasons behind this is the rising costs of in-house medical billing and complex coding systems. However, due to this, these companies are now growing in demand and this results in creating plenty of jobs for new medical billing and coding professionals thereby widening employment opportunities.

 

Conclusion

 

With all of these new coding rules and trends, those who wish to enter the field need quality educational training to prepare for the exam. By enrolling at Cigma, one of India’s finest AAPC-accredited institutions, you can master the various medical coding concepts and easily crack the CPC test on your first attempt. Our expert staffs provide up-to-date training in essential coding and electronic medical records skills. What’s more, we have provided impressive placement records every year. Join today and build a stable long-term medical career.