There are over 300 changes you need to know.
KEY TAKEAWAYS
Knowledge of coding updates is essential for everyone from the biller to the revenue cycle leader.
The 2024 CPT code update includes hundreds of new codes and a push for more inclusivity for certain patients.
As denial prevention and accurate reimbursement weigh heavy on revenue cycle leaders, staying up to date on code updates minimizes these challenges greatly.
Having teams report incorrect or outdated codes can result in claim denials, delays in reimbursement, and revenue disruptions.
While coding seems like merely a middle revenue cycle task, accurate reporting also impacts financial reporting and analysis as it affects resource allocation, budgeting, and strategic planning. In this sense, incorrect reporting could potentially skew financial reports and hinder effective decision-making.
This makes knowledge of coding changes essential for everyone from the biller to the revenue cycle leader.
The most recent coding update comes from the American Medical Association (AMA) as it recently released the 2024 CPT® code set, which includes hundreds of new codes and a push for more inclusivity for certain patients.
Here are five key takeaways from the AMA’s 2024 CPT code update that revenue cycle leaders need to know.
- The AMA is taking steps to improve accessibility for Spanish-speaking patients: The AMA is incorporating Spanish language descriptors for over 11,000 medical procedures and services in the 2024 CPT code set.
- There are over 300 updates to the code set: The 2024 update includes 230 additions, 49 deletions, and 70 revisions.
- COVID-19 immunization reporting has been streamlined: The AMA consolidated more than 50 codes related to COVID-19 immunization reporting. The consolidation of these codes and the introduction of provisional codes for specific vaccine products demonstrate are a push toward more accurate and streamlined reporting for the virus.
- RSV immunization codes have been added: For organizations treating patients of all age groups, but especially children and the elderly, there are new CPT codes for reporting product-specific RSV immunizations. Accurate coding for these immunizations can aid in data-driven planning and allocation of resources as these immunizations are fairly new.
- Clarifications in E/M services reporting were made: Revenue cycle leaders should be aware of the revisions made to the reporting of evaluation and management (E/M) services. These revisions aim to provide clarity and consistency in coding, including changes related to office visits, split/shared E/M visits, and hospital inpatient services.
As previously reported, there are also hundreds of changes to the diagnosis code set being implemented October 1.
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Photo courtesy of: AMA
Originally Published On: Health Leaders Media
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