Although the final ICD-10 implementation date has not been set, it’s important to continue planning for the transition. The switch to ICD-10 will affect every aspect of how your organization provides care, from software/hardware upgrades to documentation, and even reimbursement issues. Take time to assess everything from coding and documentation to interfaces, training and financial implications. Some areas that require special attention include:
Education: Due to the precise nature of the codes, physicians will need to provide comprehensive documentation so that coders can select the proper code for processing. Providers will need training on the required support for ICD-10 coding. Accurate documentation will ensure speedy reimbursements. Coders will need training on the expanded code set. In addition, ICD-10 will require increased coder knowledge of medical procedures and anatomy due to the specificity of the new code set. Anatomy refreshers are highly recommended.
Reimbursement: Coordinate with payers on contract negotiations and new policies that reflect expanded code sets, since they can affect fee schedules. Also develop a cash management strategy to ensure you have enough cash on hand to cover the transition period. During the transition, plan for a higher percentage of rejected claims due to inadequate documentation or inaccurate coding.
Information Systems: Ensure your vendor contracts (billing service or software, clearing house, etc.) can accommodate your ICD-10 needs. Make sure your IT systems are updated or upgraded and fully tested prior to implementation.
These suggestions cover the most-involved changes that need to be implemented, and making these adjustments to your systems will by no means be easy. The transition to ICD-10 is the biggest change in our healthcare system in 30 years, and it will be time consuming and expensive. Here at Medical Billing Resources, improvement of IT systems and ongoing education for our staff comprise a large portion of our annual budget. We work diligently to provide value added services to our clients, including making sure we, as an outsourced billing and coding company, are ready when it’s time to implement ICD-10. Some of our services are geared toward assisting our clients in the same objective, and many of our clients are able to take part in some pretty sophisticated programs because expenses for those programs are spread over many clients, creating an economy of scale. Most of these services would simply be too expensive for a single-provider office to afford alone. That’s why we suggest that there is no better time than now to make the switch to an outsourced billing service. Your practice can take advantage of these collectively lower technology and education rates, and be better prepared to handle ICD-10 when it does come time for its implementation.
