The Role of Technological Innovation in Medical Billing

The role of technology in transforming all the industries out there can’t be underestimated. If technological innovations wouldn’t have happened at such a fast pace then we would never have been able to come so far in terms of accuracy, effectiveness, and efficiency, especially for medical billing.

Till the 1980s, the main job of medical coders was to manually transcribe data related to the visit of the patient in an electronic code that was later stored in the database of the hospital or the medical office for billing, insurance claims, and all other purposes. But with time, the objective, responsibilities, and limitations of medical coders has evolved a lot. Now, coders don’t have to deal with manual entry and thus the effectiveness of these coders has increased a lot and because all the businesses out there are looking forward to focusing on their core job only, they are choosing medical oncology billing services.

But even the companies providing medical oncology billing services have undergone a dramatic change in the way they offer their service and all these changes have been made possible by technological evolution only. So, without any further ado, let’s look at how technology has played a leading role in changing the world of medical billing.

Technological evolution and medical billing

Before the introduction of the advanced technology, the medical billing process was not only considered time taking and complex but it was a laborious job as well. The most common medium used for submitting the medical bills by an Oncology medical billing company was through emails and that was a very ineffective process. But the modern-day technological advancements have brought a dramatic change in the process of medical billing and because of these changes, now medical billing has become fully digital.

Although there are many technological introductions that have contributed towards the modification of medical billing, the influx of software solutions can be considered as a revolutionary introduction. The advanced medical billing software solutions allowed medical billing companies to track and integrate different types of accounting functions on an automatic basis and it also promoted automated claim filing. Because of this, the perception of medical billing as a complex and laborious process has changed completely.

The use of encoders

In the world of medical coding, advanced software solutions are used and they are known as encoders. These encoders aid in providing alphabetical and numeric codes to diseases and different types of treatments. After the user enters the diagnosis or the text in the system, the linked codes are provided by the encoder itself.

With the help of encoders, the job of medical coders has become very simple and this has been made possible because a major portion of the overall coding process has been streamlined. This streamlining of the coding process has resulted in better accuracy and improved results as well.

But if you will ask an Oncology medical billing company or a medical coder then they will say that relying completely on encoders will not be a good approach. Even with the introduction of encoders, medical coders will continue to play a very important role in accurate documentation and better results. The knowledge of treatments and medical procedures will play an important role in accurate, on-time, and effective medical billing processes.

The top 3 technological innovations in medical billing because of AI

Auto-correction of codes

Every year, a new set of codes are listed and this is why, if you will start your journey of exploring the medical coding world then you will find thousands of codes. And even with all these codes in a system, there are chances of errors. But with the help of advanced technologies like AI, the auto-correction of codes will become a new normal for most of the coders out there.

Automation of repetitive task

Although a major portion of the medical billing process has been automated because of the introduction of advanced software solutions but in the upcoming years, we will see enhancement in automation and many other repetitive tasks involved in the medical billing process will get completely automated. Both AI and big data analysis will play a major role in this type of change.

Automation of pre-authorization

During pre-authorization, the patient needs to get proper approval from the insurance company in order to get medical treatment under the cover. With the help of advanced AI technology, the process of pre-authorization will be fully automated and thus patients will not have to wait for getting approval from the insurance company. Since there are same set of rules used in pre-authorization, the computer can be taught to automate the whole process.

With time, we will only witness the improvements in the medical billing process and the technology will be the hero of all these modifications. There are many technological innovations that will bring revolutionary changes in the world of healthcare like AI, big data analysis, machine learning, IoT, blockchain, encoders, etc. But these changes will not only benefit the medical office or hospital, but they will also act advantageous for the patients as well. So, keep tabs on the latest technological introductions in the healthcare sector and make the most of it. 

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