The transition to ICD-10 will impact many areas of the medical practice as illustrated by the graphic below from the American Association of Professional Coders (AAPC).
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As many in the health care industry are acutely aware, the International Classification of Diseases 9th Revision (ICD-9) diagnosis code set is being replaced with ICD-10. This change will have a significant impact on almost every aspect of physician revenue cycle management and coding. On April 1, 2014, the Protecting Access to Medicare Act 2014
ICD-10 Compliance Date is October 1, 2015 Read More »
What are some of the overlooked unforeseen costs of implementation? Practices may secure cash flow savings or a line of credit to help weather the storm during the transition; it is suggested that practices have a minimum of the equivalent of 30 days of operating capital on hand Measure and budget for money and time
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PracticeMax prepared a series of frequently asked questions about ICD-10 and its impact on physician and provider practices. What are the main points of consideration for a practice postponing preparation, besides not getting paid? Transition is mandates by law Inability so submit claims What are three advantages to using a revenue cycle management partner like
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PracticeMax prepared a series of frequently asked questions about ICD-10 and its impact on physician and provider practices. Q: What benefits and disadvantages emerge when comparing inhouse billing/coders (who have yet to be trained) to outsourced revenue cycle management services? Effective and thorough coding and ICD-10 training takes time, money and resources In some practices
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In June, the Medical Group Management Association released the results of a questionnaire that ranked members’ most pressing practice-management challenges. In this edition of “Practice Makes Perfect,” we’ll tackle No. 1 on that list: preparing for the transition to ICD-10 diagnostic coding. In DATA, the CMS announced that the new implementation deadline for the International
Practice Makes Perfect: ICD-10 Delay Allows Time for Clinical Documentation Improvement Read More »
Pediatricians and other low-margin practices could take a significant financial hit during the transition to ICD-10 procedural and diagnostic codes, according to a study in Pediatrics, the journal of the American Academy of Pediatrics. The 68,000-code ICD-10 system is scheduled to replace the 14,000-code ICD-9 system Oct. 1, 2015. Researchers at the University of Illinois
Move to ICD-10 will Hurt Low-Margin Practices, Study Finds Read More »