By now every provider should be aware of 5010. 5010 is the new electronic claims transmission format that becomes effective January 1, 2012. Commercial and grvernment payers are all required to use this new format.
A major change is coming. The format of all transmissions of all claims to all payers is about to change. It’s called 5010 and it’s the precursor for ICD‐10. 5010 refers to the electronic transmission of claims sent to insurance payors. The transition to 5010 will be completed on January 1, 2012, when all claims will be required to use this new format.
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The decision whether or not to outsource your billing is less complex of a decision than most physicians make it out to be. Today’s medical billing takes a highly specialized set of skills and resources to be successful. Billing has become an ever-changing complex field of codes, modifiers, rules and regulations. So here are the top 5 reasons you should outsource your practice’s medical billing function:
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ICD-10 goes into effect October 1, 2013. This is the biggest change in medical billing in years. ICD-10 has fundamental changes in structure and concepts that make them very different from ICD-9.
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