Where Is Medical Billing Headed In 2023?
Technological advancements in all the domains of life have taken over everyday activities and continue to make their way into the usual way of life. Exponential growth has been seen in the healthcare sector with the advancement of technological tools that have brought ease, comfort, and prosperity to the lives of both patients and medical practitioners. One of the most significant technological advancements is remote medical billing, which has become the talk of the town, especially after the disastrous consequences posed by the Covid-19 pandemic. 2022 is about to dawn, and the world is looking towards it with eyes expectant to know about the technological changes it is going to bring into our lives. Where is medical billing headed, and which direction would the year 2022 bestow upon it? Let’s take a look.
Expected Global EHR Adoption
Electronic Health Record (EHR) systems are already becoming quite common amongst medical health professionals and are expected to elevate to new heights of popularity and practicality in 2022. The National Centre for Health Statistics found out that 55% of medical physicians had already adopted an EHR system in 2011, and the number has been steadily increasing ever since. The advent of such innovative electronic health record systems is bound to give rise to a new era of medical billing and coding.
Will there be an effect on job availability?
Experts believe that job availability in information technology for advancing healthcare is bound to undergo a constructive change in 2022. Since the demand for healthcare is increasing with each passing day, more and more experienced people are required to deal with insurance claims and medical record updates.
Promulgation of ICD-10 means more accurate medical billing and coding, which can be translated to better jobs with higher-paying salaries as healthcare providers around the globe make the inevitable switch. Medical billers are responsible for dealing with any unexpected challenges that may occur, and IT cannot handle this responsibility alone. The U.S. Bureau of Labor Statistics says the job opportunities for medical transcriptionists are expected to increase 11% in the upcoming years, with medical records and health information technicians expected to grow as well.
The advent of AI in medical billing
Artificial Intelligence is steadily automating healthcare and is also expected to play a significant role in 2022. AI can effectively optimize backend systems and carry out administrative procedures that do not require the touch of a human, such as filing claims. Artificial intelligence is transforming healthcare with its simplified billing and insurance regulation processes. Interpretation of medical paperwork is also expected to reach new heights, owing to the recent progress made with language models from Google or Open AI.
Apart from that, electronic health record data is expected to be the primary basis for administrative automation solutions and AI-driven RPA platforms can take up data and information from EHRs to supplement and drive claim forms.
New medical billing trends in 2022
New year, new upgrades. Several tools and developments pertaining to medical billing are here to stay in 2022. Cloud-based medical billing software is one of the significant developments which has paved its way to several industries across the United States. This software provides a safe and secure platform for patient data via encrypted technology, which can be consistently updated without additional costs. This guarantees safe handling of patient data, which is the number one responsibility of health care professionals, and allows doctors to access that information on the go easily, whenever required.
Revenue Cycle Management (RCM) services have also been a matter of concern for individuals looking into the changes expected to unravel in 2022. 2019 saw a record number of healthcare providers starting to outsource RCM. The number is only expected to grow in the coming years as awareness of its benefits is rapidly spreading. Service providers are expected to free up a considerable portion of their new year by outsourcing RCM services to trusted vendors. Furthermore, electronic claims processing appears to be the new normal as standard paper claims are quickly getting out of use. Medical service providers all across the globe are readily shifting to and taking benefit from electronic claim processing systems, and this ratio is only expected to inflate in 2022. Use of the most appropriate system can automatically code a medical service’s claims to the best of their use, refining the coding process in the way and working towards a quick payment.
Why opt for SmartClinix in 2022?
Medical health professionals and the administration at SmartClinix fully realize the changing world dynamics and are thoroughly at par with them. With up-to-date and reliable telemedicine services, seamless and all-inclusive electronic medical record systems, remote billing and superbills, patient portal, practice management solution, and referral management system, SmartClinix is the right fit for all your medical requirements in 2022. Become a part of the SmartClinix family to attain quality healthcare, amazing discounts, and exceptional medical services and care.
Dr. Josh is a physician who's helping spread the knowledge about Telehealth and its advantages. At SmartClinix, he's providing his expertise and knowledge in the form of engaging articles on various health & tech related topics.