ICD-10 Delay Leaves Health Care Professionals Frustrated

Many health care professionals breathed a sigh of relief in late March when the U.S. Congress delayed implementation of the new ICD-10 coding set along with a Medicare Bill. However, other doctors and health care administrators were frustrated by the delay. Some find it disheartening after being assured repeatedly that this change-over would take place as originally scheduled. Such frustrations are understandable. The administrator of the Center for Medicaid and Medicare Services (CMS), Marilyn Tavenner had warned the medical community...

Data, Financial & Productivity Losses to Accompany ICD-10 Conversion

Thanks to the HHS mandate, in six months the healthcare system will be facing the transition to ICD-10. This transition may spell trouble for some healthcare infrastructure providers and large facilities as experts are anticipating data and financial losses. In fact, researchers from the University of Illinois at Chicago have indicated the transition may not only cost healthcare facilities significantly more money than previously thought, but have other unwelcomed side effects as well. Although no cute or funny code exist...

90% of Physician Practices Not Ready for ICD-10

With the October 2014 deadline for physicians to transition from ICD-9 to ICD-10 approaching, less than 10% of private practices are ready. In a survey of medical professionals, Porter Research found that even though 87% of respondents said they are confident they will be ready when the time comes, 74% had not started the implementation process in the final quarter of 2013. Kind of makes you shake in your boots, no? A significant majority of respondents expressed concerns about loss of revenue...

The Sin of Not Paying Attention To ICD-10

Not complying with the new ICD-10 updates may not land you in a version of Hades, but when your claims start bouncing back, that’s how it will feel. Don’t ruin the cash flow of your business by ignoring an essential part of good healthcare administration. Get your ICD-10 coding book now and get to work updating your practice before the newly revised October 1, 2015 start date. Here are a few key items to consider: Buying the Book The ICD-10...

ICD-10 Testing: Time to Get Real for Medical Billers

As we get close to the end of the year, there are conflicting calls from various groups regarding ICD-10. Last week, the American Medical Association called for a delay, citing costs between $83,000 and $2.7 million per practice to implement. This week, the American Hospital Association warned that a delay in implementation would increase costs. According to FierceHealthIT, a July letter sent to House and Senate Members from AHA Executive Vice President Rick Pollack and BCBS Association Senior Vice President...

Why ICD-10 Will Rock Your World [Bye Bye ICD-9]

The changeover from ICD-9 to ICD-10 is mandatory, so one could argue it doesn’t matter if ICD-10 is an improvement. But it is better, and perhaps understanding the reasons will ease the pain for practices as they budget and plan for the changeover. ICD-10 is more logical than ICD-9. According to CMS, the structure in ICD-10 makes it easier to use than ICD-9. Once coders adjust to the new system, finding the right code will be simplified because of the...

9 Surprising Reasons Your ICD-10 Transition Will Fail

We’ve said it before, but it bears repeating—it’s time to plan for the ICD-10 transition next fall. Many practices are focused on other projects or putting off ICD-10 training until the deadline is closer. At this point, procrastinating may lead to an ICD-10 crisis next October. Here are nine possible reasons for failure. 1. You didn’t start soon enough. Many tasks associated with the ICD-10 transition are time consuming, including training, evaluating the effectiveness of the training, and implementing new...

The Practice Management Weekly Digest: ICD-10 Pilot, Web-based Billing, EHR Deaths

Welcome to PracticeSuite’s weekly digest. Stay up to date on all the latest RCM, EHR and medical billing news. Accuracy of coding in ICD-10 pilot varies, report says Researchers for the Healthcare Information and Management Systems Society found that ICD-10 coding accuracy varied widely by type of medical condition. Along with the Workgroup for Electronic Data Interchange, the society has produced a 54-page report with the results of a national pilot program that took place from April to the end...