Medical Coding: Global Market Outlook to 2024, Growing with a CAGR of Approx 9.9% from 2019
With nearly a 10% expected growth rate throughout the medical coding market, there will be a high demand for medical coders within the industry. Coding related jobs are expanding among the business side of healthcare. Are you prepared?nnContact Welter Healthcare Partners today to learn more about our coding and documentation services or our recruitment assistance to keep your practice on the forefront of the changes.nn
nn nnThe “Medical Coding Market – Growth, Trends, and Forecast (2019 – 2024)” report has been added to ResearchAndMarkets.com’s offering.nnThe global medical coding market is expected to register a CAGR of nearly 9.9% during the forecast period, 2019-2024.nnThe major factors found propelling the growth of the market include the escalating demand for coding services, rising need for a universal language to reduce frauds and misinterpretations associated with insurance claims, and high demand to streamline hospital billing procedures.nnThere is a high demand for medical billers and coders in the current job market. Thus, coding-related jobs are expanding, due to the growing landscape of the business side of healthcare, along with their efficiency to automate large amounts of work. Hence, the escalating demand for coding jobs is likely to drive the market studied across the world.nnThe technological advancements in the healthcare industry and constantly changing classification systems are expected to create potential revenue opportunities for players operating in the target market over the forecast period.nnIn addition, data security is a major concern for healthcare organizations, and offshore coding companies are also becoming aware of these data security concerns, while understanding that breach in a client’s data is likely to result in the loss of business. Thus, leading offshore coding firms are building a secure environment for the coders to work in.nnKey Market TrendsnInternational Classification of Diseases (ICD) is the Largest Segment by Classification System that is Expected to Grow During the Forecast PeriodnnThe international classification of diseases (ICD) segment is expected to register a significant share, in terms of revenue, over the forecast period, owing to the increasing demand for trained medical coders. The need for ICD is increasing across the world, owing to a growing prevalence of diseases. Hence this segment is expected to grow in the future, due to the rising growth of medical coding across the world.nnNorth America Reported the Largest Growth and is Expected to Follow the Same Trend Over the Forecast PeriodnnThe North American market is estimated to hold the largest share, in terms of revenue, over the forecast period, owing to technological advancements and improved healthcare infrastructure in various countries in this region. Therefore, the high demand for specialist coders and the presence of a favorable healthcare system are the key factors that are anticipated to drive the market growth.nnCompetitive LandscapenThe number of professional coders is expected to rise significantly during the forecast period, thus boosting the number of companies providing platforms for medical coding professionals. Thus, the market seems to be highly fragmented, due to the presence of many local providers offering a wide array of services.nnOriginal article published on prnewswire.com.
Just another piece in the telehealth puzzle, Remote Patient Monitoring, or RPM, is adding to the patient/provider relationship. New CPT codes 99453, 99454, and 99457 allow for reimbursement of services providers can utilize to manage and coordinate care at home. Best yet, code 99457 can be reported by clinical staff such as RN’s and medical assistants.nn99453: Remote monitoring of physiologic parameter(s) (eg, weight, blood pressure, pulse oximetry, respiratory flow rate), initial; set-up and patient education on use of equipment.nn99454: Remote monitoring of physiologic parameter(s) (eg, weight, blood pressure, pulse oximetry, respiratory flow rate), initial; device(s) supply with daily recording(s) or programmed alert(s) transmission, each 30 days.nn99457: Remote physiologic monitoring treatment management services, 20 minutes or more of clinical staff/physician/other qualified healthcare professional time in a calendar month requiring interactive communication with the patient/caregiver during the month.
The Trump administration says offering health insurance across state lines will enhance competition and lower premiums, but states may raise objections if their regulatory authority is challenged.nnKey Takeawaysn
Trump’s 2017 executive order also directs the Secretary of Labor “to consider expanding access to Association Health Plans, which could potentially allow American employers to form groups across State lines.” That would allow health insurance providers to bypass state coverage requirements.nnHealth insurance oversight is left largely to the purview of states, which has created a regulatory patchwork that varies widely from state to state.nnState and federal lawmakers, mostly Republican, have for the past decade pushed to sell health insurance across state lines, but the issue has proved to be nettlesome. The National Association of State Legislatures reports that at least 23 state legislatures have considered the idea over the past 10 years.nnThe National Association of Insurance Commissioners hasn’t taken a firm stand on the idea, because it represents independent state insurance commissioners, many of whom may have varying levels of support for the idea.nnIn 
HISTORY OF PRESENT ILLNESS: A 36-year-old female who underwent a revision microdiskectomy for disk reherniation at which point there was an incidental durotomy. The patient developed evidence of CSF leakage including positional headaches. She was treated with 2 blood patches and the patient seemed to improve. Subsequently, she developed a collection under her skin. This was tapped, demonstrating clear fluid consistent with CSF. Given this and the failure of blood patch for treatment of CSF leak, the patient was brought to the OR for direct repair of the CSF leak. The patient understood the risks of surgery including bleeding, infection, continued CSF leak, need for future operation, and agreed to undergo the operation.nnPROCEDURE IN DETAIL: The patient was brought to the OR, placed under general endotracheal anesthesia. She was flipped into the prone position on a Jackson table, prepped and draped in the usual fashion. The previous small incision on the left side of the back over the lumbar spine was opened with a 10 blade until clear fluid was reached. The fluid was drained, and there was a large cavity consistent with a pseudomeningocele left. The tubular retractor system was then placed down over the previous laminotomy at the site of probable CSF leak. The microscope was brought in. The durotomy and leaking CSF was easily identified, and scar tissue was carefully separated from the dura. Further laminotomy was also performed to provide room for suturing the leak. Once this was complete, a 5-0 Prolene suture was used to suture the dura back together. Valsalva after the initial closure demonstrated l area of leakage. A fat graft was then obtained from the patient’s subcutaneous fat layers, and this was sewn into the leakage area. Subsequent Valsalva maneuver did not demonstrate any leakage of CSF. Given this, it was felt that the repair was adequate to stop the CSF leak. A piece of DuraGen was then placed over the exposed dura, and DuraSeal was placed over the DuraGen. Steroids were also placed over the dura. Prior to placement of the DuraGen, the wound was thoroughly irrigated, and hemostasis was achieved with bipolar cautery and Gelfoam powder. Next, the tubular retractor system was removed. The pseudomeningocele tissue was cut away from the normal tissue using monopolar cautery and removed from the patient. Hemostasis was then achieved with bipolar cautery. Attention was then turned to closure. A watertight closure was performed in the fascial layer using 0 Vicryl sutures. Next attempts were made to close down any potential space between the fascia and fat layer using 0 Vicryl sutures. The fat layer was also reapproximated with 0 Vicryl sutures. Finally, the deep dermal layer was closed with 0 Vicryl sutures and the skin was closed with a running subcuticular Monocryl. Dermabond was placed over the wound. The patient was then flipped into the supine position, extubated, and transferred to the PACU.
UnitedHealthcare is revising the Consultation Services Policy and will no longer reimburse CPT® codes 99241-99255. This change aligns UnitedHealthcare with the Centers for Medicare and Medicaid Services (CMS). We would like to partner with care providers on older fee schedules (2009 and prior) to move to more current fee schedules.nnUnitedHealthcare will take a phased approach to implement this change as follows:nn1. Effective with dates of service of June 1, 2019, UnitedHealthcare will no longer reimburse CPT codes 99241-99255 when billed by any health care professional or medical practice with a participation agreement that includes contract rates determined on a stated year 2010 or later CMS RVU basis.nn2. Effective with dates of service of October 1, 2019, UnitedHealthcare will no longer reimburse CPT codes 99241-99255 when billed by any health care professional or medical practice.nn3. Health care professionals and medical practices should instead bill consultation services in accordance with current evaluation and management guidelines published by CMS.nn4. With respect to telehealth and telemedicine services, the Telehealth & Telemedicine Policy will continue to apply and HCPC codes G0406 – G0408, G0425 – G0427, G0508 and G0509 will be payable pursuant to that policy, the participation agreement and the member’s benefit plan.nn5. Consultation services may still be reimbursed when billed in accordance with the Preventive Care Services Coverage Determination Guideline for services such as lactation counseling.nn6. At this time, we will not be altering the Global Days Policy to apply a reduction to evaluation and management codes submitted with modifiers 25 or 57 as once announced with this Consultation Services policy change.nnCMS ceased reimbursement of consultation services CPT codes in January 2010 and increased the Relative Value Units (RVUs) for E/M codes at that time to offset this shift in its reimbursement methodology.nnFor this reason, UnitedHealthcare encourages providers who are on an older fee schedule to modernize their fee schedules to bring them into alignment with CMS’s current Relative Value Unit methodology, since the older fee schedule reimbursement does not appropriately align with current RVU structure for E/M services and many other procedure codes.nnUnitedHealthcare appreciates this change may have an impact on participating health care professionals and medical practices. So, if you have concerns or questions, or to update your fee schedule to a more current fee schedule, please reach out to your UnitedHealth Network representative.nClick 
2019 has begun a long process to eliminate redundant paperwork for providers and giving greater importance to patient interaction. One of the first changes to this multi-year program is the elimination of some home visit documentation requirements.nnE/M visits in the patient’s private residences (CPT codes 99341-99350) had, in previous years, to justify the home visit by documenting medical necessity. Effective January 1, 2019 CMS, as part of the “Final Rule”, has finalized the policy change and removed the requirement to the medical record documentation for these visits.