Happy Friday to our readers! We’re all looking forward to the annual HFMA National Institute next week—if you’re attending, be sure to stop by booth #417 to discuss the latest tips and technology for maximizing your financial performance, managing denials, and more.
Earlier this week, RCM Answers published a Q&A with our Chief Data Scientist, Paul Bradley, to discuss the financial benefits of predictive analytics for healthcare organizations. Paul explains how predicting missed charges on claims can help provider organizations identify and collect those charges quickly and efficiently.
We’re also loving the list of bizarre new ICD-10 codes that Medical Economics came up with. While the list focuses on some of the more obscure charges one might encounter in medical billing, it also highlights how much more detailed ICD-10 is compared to ICD-9. The transition is projected to increase denials by 100 to 200 percent, so make sure you have an effective claims and AR management process in place—including automated coding tools and a comprehensive solution for managing and appealing denials—to proactively prevent miscoded claims and lost revenue after September 30.