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Don’t let icd 10 transition be a hindrance in effective cardiology billing

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Deadline for ICD-10 implementation has been extended to 2015; however, there are many providers, including cardiologists who still have a lot of ground to cover before taking on the new coding system.

As per a study released by Aloft Group in February 2014, merely 25% or less of ICD-10 implementation process had been completed by half of healthcare providers in the US

ICD-10 will benefit cardiology practices as well as patients. It will make cardiology billing, coding and documentation easier and efficient. But the transitioning will pose challenges for providers with limited time, money and resources.

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Don’t let icd 10 transition be a hindrance in effective cardiology billing

  1. 1. End to End Medical Billing Solutions Call now 888-357-3226 (Toll Free) http://www.medicalbillersandcoders.com www.medicalbillersandcoders.com Copyright ©-2013 MBC. All Rights Reserved. Page 1 of 7 Don’t let ICD-10 Transition be a Hindrance in Effective Cardiology Billing Deadline for ICD-10 implementation has been extended to 2015; however, there are many providers, including cardiologists who still have a lot of ground to cover before taking on the new coding system.  As per a study released by Aloft Group in February 2014, merely 25% or less of ICD-10 implementation process had been completed by half of healthcare providers in the US
  2. 2. End to End Medical Billing Solutions Call now 888-357-3226 (Toll Free) http://www.medicalbillersandcoders.com www.medicalbillersandcoders.com Copyright ©-2013 MBC. All Rights Reserved. Page 2 of 7 ICD-10 will benefit cardiology practices as well as patients. It will make cardiology billing, coding and documentation easier and efficient. But the transitioning will pose challenges for providers with limited time, money and resources.  Lack of preparation will put cardiology practices at risk for claim denials, affecting their financial health  If coders are not prepared to handle the increase in number of diagnosis codes, coding errors will lead to rejected claims
  3. 3. End to End Medical Billing Solutions Call now 888-357-3226 (Toll Free) http://www.medicalbillersandcoders.com www.medicalbillersandcoders.com Copyright ©-2013 MBC. All Rights Reserved. Page 3 of 7  Most conditions under ICD-10 will require specific documentation by physicians, which will be difficult to achieve as physicians will be busy attending increased number of patients  Increased workload will affect productivity level of coders, physicians and every other staff who will be impacted by the new coding system How can cardiologists make the transition smoother?  Compared to ICD-9, thousands of new codes will be included in ICD- 10 so, the key to success lies in focusing on codes you are most likely to use because according to CMS, not all codes apply to every specialty
  4. 4. End to End Medical Billing Solutions Call now 888-357-3226 (Toll Free) http://www.medicalbillersandcoders.com www.medicalbillersandcoders.com Copyright ©-2013 MBC. All Rights Reserved. Page 4 of 7  You will have to use available training resources to prepare for ICD- 10. Numerous training resources are offered by CMS where practices can access fact sheets, implementation checklists and other tools. This helps them jumpstart their conversion to the new coding system  It will be required for you to become familiar with new coding concepts and guidelines in order to become familiar with the changes and prepare your staff for the same
  5. 5. End to End Medical Billing Solutions Call now 888-357-3226 (Toll Free) http://www.medicalbillersandcoders.com www.medicalbillersandcoders.com Copyright ©-2013 MBC. All Rights Reserved. Page 5 of 7  Necessary preparation will be required for all points of “code contact” for ICD-10 such as scheduling, coding, referrals, lab or imaging orders, medical records, denial of appeals and so on  You will have to ensure that practice management systems or electronic health record systems are prepared for the transition to ICD-10. It will be important to know if these systems can store and use ICD-10 codes or if an upgrade will be required ICD-10 can cause a financial turmoil if you are not prepared. You will have to streamline your cardiology billing practices in order to remain financially
  6. 6. End to End Medical Billing Solutions Call now 888-357-3226 (Toll Free) http://www.medicalbillersandcoders.com www.medicalbillersandcoders.com Copyright ©-2013 MBC. All Rights Reserved. Page 6 of 7 stable. If lack of time, money and resources is posing challenges in achieving this objective, outsourcing can bring an end to all your worries. Medicalbillersandcoders.com is a reputed billing company that has been catering to varied specialties, including cardiologists across 50 states in the US. The expert team of coders and billers at MBC is equipped with the latest technology to help cardiology practices sail through ICD-10 challenges. Our aim is to streamline billing and strengthen the revenue cycle management of cardiology practices. While we eliminate your worries related to claim denials, HIPAA and EMR, you can concentrate on provision of quality care.
  7. 7. End to End Medical Billing Solutions Call now 888-357-3226 (Toll Free) http://www.medicalbillersandcoders.com www.medicalbillersandcoders.com Copyright ©-2013 MBC. All Rights Reserved. Page 7 of 7 Related Posts:  How Can Outsourcing Solve Medical Billing and Reimbursement Challenges for Physicians in 2014?  How can outsourcing help you Deal with Shortage of Trained Medical Billers and Coders?  Eliminate the Burden of Medical Billing and HIPAA Regulations with a Billing Company  Is Your Practice Prepared to Balance Medical Billing and Patient Influx in 2014?

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