What is a Revenue Code?
Revenue codes are a standardized system that identifies any accommodations and specific services provided to patients in a healthcare setting. These services may include room and board, imaging services, medications, & more.
These codes not only tell the insurance company what kind of service the patient receives but as well as where in the hospital they received it. You can use these 4-digit codes on hospital bills to convey or reveal to insurance payers where the patient existed while receiving the treatment. It also includes the type of equipment or item that the patient has received during the procedure. When the list of revenue codes for medical billing is attached to the supply codes, they identify if the equipment was used in the hospital or taken home by a patient. A valid procedure code should be accompanied by a revenue code so that the insurance companies accept it. This is important because most of the procedures performed in hospitals are done in different areas.
The way these codes are set up is relatively simple, but there are hundreds of them. Revenue codes include three or four digits that hold information concerning a patient’s medical care and other services. These codes need to match with procedure codes for insurers to accept the claim. It is the use of revenue codes that allows hospitals to use the same CPT code in multiple departments as it shows which department the services were rendered to the patient.
The National Uniform Billing Committee (NUBC) maintains these revenue codes.
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etactics.com
Revenue codes are more often than not coupled with CPT and HCPCS codes to help further explain the procedures, supplies, and treatment that a patient receives.
We use revenue codes to group similar types of charges onto one line in the UB-04 (aka CMS-1450) form. Insurance companies need the correct revenue codes in the form to pay the provider for their medical claim. The purpose of these codes is to group similar charges onto one line in the form. You cannot report revenue codes on a CMS-1500 form. There are almost 81 fields in the UB-04 form, and revenue codes are located by fields 42-49 (FL42-49).
When the last digit of a revenue code is zero, this means that the service is not specified as more of a “general” service. When the last digit of a code is a 9, then this indicates services categorized under “other”. These “other” services belong under the specified category but do not have a specific code.
Revenue codes are a standardized system that identifies any accommodations and specific services provided to patients in a healthcare setting. These services may include room and board, imaging services, medications, & more.
These codes not only tell the insurance company what kind of service the patient receives but as well as where in the hospital they received it. You can use these 4-digit codes on hospital bills to convey or reveal to insurance payers where the patient existed while receiving the treatment. It also includes the type of equipment or item that the patient has received during the procedure. When the list of revenue codes for medical billing is attached to the supply codes, they identify if the equipment was used in the hospital or taken home by a patient. A valid procedure code should be accompanied by a revenue code so that the insurance companies accept it. This is important because most of the procedures performed in hospitals are done in different areas.
The way these codes are set up is relatively simple, but there are hundreds of them. Revenue codes include three or four digits that hold information concerning a patient’s medical care and other services. These codes need to match with procedure codes for insurers to accept the claim. It is the use of revenue codes that allows hospitals to use the same CPT code in multiple departments as it shows which department the services were rendered to the patient.
The National Uniform Billing Committee (NUBC) maintains these revenue codes.
Must-Know List of Revenue Codes for Medical Billing - Qway Health Care
What is the list of revenue codes for medical billing that you can count on right now? 20? 30? Or at least 10? Not so possible right now!
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What is a Revenue Code in Medical Billing — Etactics
Different kinds of universal codes that apply to all insurance carriers in the United States, but including all of them here would turn this into a book. For today, let’s look at revenue codes and how important they are in the medical billing field.
etactics.com
Revenue codes are more often than not coupled with CPT and HCPCS codes to help further explain the procedures, supplies, and treatment that a patient receives.
We use revenue codes to group similar types of charges onto one line in the UB-04 (aka CMS-1450) form. Insurance companies need the correct revenue codes in the form to pay the provider for their medical claim. The purpose of these codes is to group similar charges onto one line in the form. You cannot report revenue codes on a CMS-1500 form. There are almost 81 fields in the UB-04 form, and revenue codes are located by fields 42-49 (FL42-49).
When the last digit of a revenue code is zero, this means that the service is not specified as more of a “general” service. When the last digit of a code is a 9, then this indicates services categorized under “other”. These “other” services belong under the specified category but do not have a specific code.
