HealthIT Answers December 9, 2024
By John T. Bright, CEO & Founder, Med Claims Compliance Corporation
Medical billing inaccuracies remain a significant issue in the U.S. healthcare system, contributing to inefficiencies that negatively impact providers and patients. These errors not only affect the revenue cycle but also hinder operational productivity and reduce patient satisfaction.
Studies suggest that 80% of medical bills contain some form of error. One of the most common causes of these errors is incorrect coding, which contributes significantly to financial discrepancies. Last year, the Centers for Medicare & Medicaid Services (CMS) reported an Improper Payment Amount of $31.23 billion. As coding mistakes are the primary driver of these overpayments, addressing this challenge has become crucial for healthcare organizations.
The Operational and Financial...
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