Outsourcing coding efforts allows hospitals to better manage the coding demand without having to lay off or furlough workers. COVID-19 times have highlighted this, for instance. With the help of outsourcing, hospitals would not have the costs to maintain an in-house coding department.
Relying on a partner vendor for subcontracting coding efforts makes your deliverables their deliverables. Most importantly, higher and consistent coding quality is ensured. As a result, there are fewer denials and a lower DNFB rate. A partner vendor is also responsible for PTO and backlog coverage. These are common pain points for so many facilities. In addition, the coder turnover rate is even lower when outsourcing coding teams.
In the HIM industry, recruiting coders has an average cost of 20% of a coder’s salary. Onboarding a new-hire coder means months of training and internal QA. But, with outsourcing, the vendor partner handles the coding team's ongoing training and mentoring. Therefore, the outsourced coding team is knowledgeable in all updates and guidelines.
How can organizations find a reliable, trust-worthy coding and auditing partner? It's easy! Firstly, look for a medical coding and auditing company that has a 100% client retention rate. Secondly, trust a partner with decades of experience in the industry and an expert team on staff - like YES HIM Consulting.
