Medical coding is at the heart of the billing process for every hospital. Without accurate coding, your organization stands to lose considerable revenue and may also face fines and penalties related to improper use or over-billing. StenTel provides hospital support services that include an accurate and reliable coding system that has been refined through over 20 years of field use in some of the finest hospitals in the country. Our solution could be the first and most critical step in ensuring that you are reimbursed for all of the medical services provided – and in making sure you are in compliance with coding regulations. StenTel’s hospital support services have consistently shown a 99% coding accuracy rate. As a result, our clients see better cash flow and improved top-line revenue as claims are filed quickly and completely.
There is little doubt that salaries for in-house professional coders will continue to rise through 2015-16, as they did throughout 2014. As noted in the AAPC (American Association of Professional Coders) annual salary survey (published in Healthcare Business Monthly in December 2014):
There were large increases in salaries across the United States this past year.
2014 was the year for raises and salary increases across the board. Members in the hospital inpatient setting are in the sweet spot for significant increases, with a 16.6 percent salary boost, earning an average salary of $56,554 per year. Medium-sized group practices saw a 10 percent increase, earning $46,762 on average. Health system workers reaped the benefits of an 11.1 percent increase, making $54,186 on average. See Graph F: Salary by Workplace for a breakdown of salary averages in various healthcare settings. There have been subtle increases across all specialties, with exception of AAPC’s new CPB™ credential. There was an increase in salaries for education positions, as reflected in the 7 percent pay increase (from $71,026 in 2013 to $76,021 in 2014) for CPC-Is. Educators were paid the highest salary in 2014, at $61,212.
Increases did not vary significantly by region, a clear signal that demand for coders in the U.S. is high and the need for updated skills is pushing salaries higher:
Click to review the entire AACP survey here.
Every StenTel coder is CPC certified and experienced in abstracting coding information from detailed medical charts and reports. By carefully reviewing and analyzing each record and its accompanying notes and test results, our coders are able to identify relevant diagnoses and procedures for each patient visit and ensure that all eligible codes are properly applied. After review of the records, specific CPT, HCPCS, and ICD codes are assigned to ensure payment is made for all relevant procedures and treatments as quickly as possible and without the delays found with improper coding.
While some hospitals prefer to use in-house staff for coding and billing, the most cost effective method is outsourcing these essential hospital support services to StenTel!