Advanced Revenue Cycle Analytics: An Overview
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The Bureau of Labor Statistics projects the number of biller and coder jobs to increase by 13% by 2026. Not only that, but the current unemployment rate in the U.S. is around 4%, down from 10% in 2010.
These statistics indicate what many practice managers may already know, that competition for the best billers and coders is fierce. First of all, low unemployment means that most new team members you recruit are already full time somewhere else. There are not many people waiting around to be hired to fill your open coding positions. Secondly, the amount of jobs for billers and coders is steadily increasing. The top billers and coders are in higher demand than ever before.
Knowing all of this, how do you protect yourself from the coder and biller turnover that is likely to happen? If you were to lose some of your billing or coding staff tomorrow, how long would it take to find someone to replace them? How much time would it cost you to recruit, hire, and train a replacement? All of that time and lost resources would have a great impact on your cash flow.
Protecting your medical coding process with AccelaSMART
While you may not be able to fully prevent turnover in your practice, you can protect the coding knowledge of your team. If you lost your best coder tomorrow, would the productivity of your entire coding team decrease? Prevent losing any of your best coder’s knowledge by building rules into our software, AccelaSMART. AccelaSMART works within your current EHR system and reviews charges against industry and custom rules. Missed charges or charges with errors are sent to your coders with suggested edits to correct each encounter. If your best coder left tomorrow, the coding expertise specific to your practice would remain intact within AccelaSMART.
2019 will bring many challenges to your revenue cycle. Prepare yourself for the new year by watching our free on-demand webinar, Top Revenue Cycle Trends of 2019. We discuss several trends that the new year will bring for your revenue cycle, as well as strategies that top performers are using to improve outcomes. Make your revenue cycle the best it can be in 2019.