Physicians must code diagnoses properly to succeed under Medicare & other value-based contracts
Each year, CMS sets cost benchmarks for every Medicare member, based on the patients’ diagnoses during the prior year. But what if the physician hasn’t reported their patients’ health information accurately or fully? The result is often benchmarks that are set low, and costs of care exceeding benchmarks.
The payer then thinks the provider spent too much on members’ care, and does not recognize or reward the value (high quality/lower cost) of the care provided by the physician.
That's why proper Medicare risk adjustment coding—entering diagnosis codes in the EMR and on claims and treating for each diagnosis —is essential. Providers who follow best practices for risk adjustment coding have a better chance of earning shared savings.Read More