Revenue cycle executive involvement is an essential ingredient to recognize the full value of any outsourced coding partnership. For the 70 percent [i]of hospitals, health systems and physician groups that plan to extend outsourced medical record coding services into 2020, garnering leadership attention and securing adequate budgets is imperative.
In the June/July issue ofFor the Record magazine, I was interviewed alongside Matt Hoeger, director of revenue integrity at Penn State Health Milton S. Hershey Medical Center. Our discussion centered around best practices for effectively managing outsourced medical record coding services including such important topics as: how to determine which outsourced coding firm to use, tips for ensuring accountability and the role of executive communication.
The conversation with Matt also uncovered five mistakes to avoid with outsourced coding:
- Coding vendors are evaluated too quickly and without the proper due diligence.
- Revenue cycle executives take a hands-off approach to the partnership.
- Vendors are not held accountable for revenue cycle goals.
- Organizations don’t adequately budget for onboarding (time, staff and resources).
- Leadership doesn’t monitor outsourced coding costs effectively.
As we approach HIM budget season, I invite you to read the full interview with Matt Hoeger.
KIWI-TEK supports a thorough review of outsourced coding service partnerships annually and encourages our customers to hold us accountable every day. Read our coding industry white paper about the importance of annual coding strategy assessments here: https://www.kiwi-tek.com/outsourced-coding-whitepaper/
[i]Outsourced Coding and Health Information Management Market Expected to Double Again in 2018, Black Book Survey Reveals Top Vendors: Black Book Research. October 2017. https://www.prnewswire.com/news-releases/outsourced-coding-and-health-information-management-market-expected-to-double-again-in-2018-black-book-survey-reveals-top-vendors-300531298.html