Many Agencies Pay A Lot For In-House ICD 10 Coding. Meanwhile, Your Profit Margins Continue To Shrink. Make The Change Today. (Part1)

Over the years,  ICD 10 coding has continued to increase in complexity. The days of 3 for diagnosis coding are long gone. Some of us remember those days and how much nicer it seemed. That being said, it is absolutely necessary to have coders who are Oasis and ICD 10 certified. The question then becomes whether or not you keep your coding in-house or whether you should outsource.

Reasons To Keep ICD 10 Coding In-House:

We don't like change.  That's a given, right? We like having coding staff right there alongside everyone else. Access is nice. We like knowing our staff is keeping up-to-date on education and certification. We have peace of mind knowing our staff are trained the way the should be. Often times we have several coders to make sure we don't get behind in times of surge. Here is the biggest issue with all of it: too many agencies can't afford the ICD coding staff they have.

Why Can't You Afford It ?

Let's face it. profit margins aren't suddenly increasing. For many of you, it is the opposite. Many of you have not considered outsourcing coding. As a part of this series on ICD 10 coding, we will look at when the numbers shows you can fiscally afford to have coders on staff and when you can't. If you are a large regional agency or a national chain, then absolutely. If you do any less than 200 Medicare admissions per calendar month in your agency, then you probably lose money on coding in-house. You need to do a dollars and cents comparison. You need to consider the dollars you put into staff such as insurance benefits , vacation, sick leave, and personal time, etc. When you have long-term staff, these benefit dollars can really add up and cut into your bottom line.

Call Kenyon Homecare Consulting:

We have a comprehensive coding program that allows you to outsource ICD 10 coding and save you money in the process of providing high-quality coding and Oasis review. We have nurses who complete the coding process while helping your nurses and agency improve Oasis  scoring so you don't miss the dollars and outcomes you deserve.  Call Kenyon Homecare Consulting today at 206-721-5091 or contact us onlin e to see how we can help you save money. We will complete 5 free recodes to help you check compliance of your current coding solution. We will continue in the next part of this series to break down the dollars of coding in-house versus an outsourced solution, so stay tuned!