BC Advantage - 2024 Issue 9

The True Costs of Coding Errors: How AI Turns Challenges Into Opportunities

Accurate medical coding is a critical goal for health systems. Many strive for 95% overall coding accuracy, though true accuracy often falls short. With so many possible codes – for example, ICD-10 alone has about 70,000 diagnoses – it's easy for mistakes to happen despite the best efforts of dedicated professionals. Unfortunately, inaccurate coding does more than cause administrative headaches – it exerts a financial toll on organizations in a myriad of ways.   Few providers fully comprehend the true enterprise-wide costs associated with coding inaccuracies. Aside from slowing down the revenue cycle, coding mistakes prevent proper reimbursement...

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