It is time to work towards ICD10
The countdown to ICD-10 begins!
• The transition to ICD-10 is indeed a transformational event.
• With less than half a year until the day of conversion of ICD-10 on
October 1, 2014, a physician’s ultimate life preserver would be
planning and training It’s time to pull up your socks, if you cannot
bill with ICD-10, it won’t be just a little cut, it will be a 100% cut in
ICD-10 is a lot more complex!
• The number of outpatient diagnostic codes will increase from 13000
to more than 68000.
• Transitioning to the new coding system will require training for
coders, billers and providers, in the documentation requirement, as
well as changes in the billing software.
Time to update your workflow and systems…
• This is the time to identify key benchmarks and measurements that
the new technology change, must support.
• A bad approach can lead to missed requirements, workflows that do
not support the code transition and configurations, and, result in
claims being denied, or billed under both codes.
• Strategically an inventory should include any system and functions
that would benefit from the use of more expansive ICD-10 code set.
Systems should be analysed for their ability to handle ICD-10 CM’S
extended alphanumeric structure.
ICD10 is a million times more granular than ICD9…
• As ICD-10 is more robust than ICD-9(with up to seven characters),
practices should assess whether their current clinical documentation
will support the level of specificity necessary.
• An experienced auditor should conduct the audits evaluating
random samples and reviewing various record types. Clinical
documentation assessment tools determine whether current
documentation supports ICD-10.
How does it impact your bottom-line?
• Physician practices will be wise to include ICD-10 in their payer
contract negotiation discussion for the next two years to decrease
their risk concerning compliance error and claim denials.
• As the implementation of ICD-10codes become apparent, so will the
implications for greater payment for greater complexity and lesser
payment for lesser complexity.
• For this reason it is critical for the practice to know which insurer has
transitioned to ICD-10 and which have not, so it can prepare the
billing accordingly and ensure proper and prompt payment.
For details call 877-272-1572
or visit us