Title: Critical Trends Affecting the path of your Optometry Reimbursement
1(No Transcript)
2Critical Trends Affecting the path of your
Optometry Reimbursement
- The industry of medical billing and coding is an
ever-evolving and developing industry. New
advancements and techniques have totally changed
the way medical billing professionals perform
their daily activities. As of late, optometry
practices have been compelled to change the way
they bill and code for their procedures to comply
with certain medical billing trends. -
- Here are three critical trends that have impacted
the way medical billers provide optometry billing
solutions -
- ICD-10
- On October 1st, 2015 the tenth update of the
International Statistical Classification of
Diseases, otherwise called ICD-10 became
effective under the Health Insurance Portability
and Accountability Act or HIPAA. It supplanted
ICD-9 and contains 71,924 procedure codes and
also 69,823 diagnosis codes. Optometry facilities
with in-house billing departments had to learn
these new codes, which in turn hindered the
productivity of many facilities.
3Critical Trends Affecting the path of your
Optometry Reimbursement
But, what this change in ICD-10 has done is it
has openly disclosed the inefficiencies of
in-house optometry billers. This observation has
led many practices to outsource their billing and
coding undertaking to offshore agencies, which
possess the know-how and expertise. Outsourcing
optometry billing administrations has made it
easier for Optometrists to put more focus on
patient care and less on the implementation and
adaptation of ICD-10. 2. ACOs An Accountable
Care Organization or ACO is a voluntary group of
healthcare service providers that cooperate to
facilitate care to their Medicare patients. The
primary objective of an ACO is to guarantee that
patients get the right kind of care at the ideal
time while evading service duplication and
preventing coding and billing errors. Optometrist
s required in an ACO must guarantee that they are
meeting consistence principles and have along
these lines, exploited outsourcing optometry
charging administrations.
4Critical Trends Affecting the path of your
Optometry Reimbursement
3. HER Although most of the Optometry facilities
have embraced an Electronic Health Record
software or EHR, some are still lacking in
billing and coding integration. EHRs that have
the features of billing integration makes it
possible for optometrists to streamline the way
they get paid. They wipe out the requirement for
optometrists to invest a lot of energy to fill
out forms keeping in mind the end goal of payment
collection. For leverage them with administrative
burden, optometrists have turned to offshore
companies dealing in optometry billing
services. As new innovations and regulations
continue to transform the world of medical
billing, more and more optometrists will invest
in optometry billing solutions from a
dependable medical billing company. If your
optometry practice has found it challenging to
keep up with the latest medical billing
trends, contact us today!!