Published on March 4, 2014
Awareness key to a successful ICD-10 shift © CureMD Healthcare
ICD-10 Shift • Care organizations and providers have just around 7 months to go before ICD-10 storms into • Physicians, health systems, hospitals and practices are rushing to gear themselves up for the big change • Coding and compliance experts believe physicians are not aware of the new codes and are not thinking about the consequences of their decisions • Those implementing ICD-10 in the practices need to start being more attentive to this shift as it will help them in the future
ICD-10 Shift • The focus should not be just to spend money but to plan well • The margin for error is very little any delay would be destructive • The Centers for Medicare and Medicaid Services (CMS) has already pushed the implementation deadline back once and remains steadfast with the current one • It has time and again stressed that October 1, 2014 will be the time the system is implemented nationwide and no relaxations will be given
ICD-10 Shift • Care providers who are not getting themselves ready for ICD-10 yet must start putting plans in place to oversee the big shift • They need to start consulting organizations which have the necessary expertise, technology and resources and can help them through the transition • The American Medical Association estimates ICD-10 implementation costs between $83,000 and $2.7 million depending on the organization size
What issues to address? • Practices must address these issues before implementing ICD-10 – Is my organization ready to make a smooth transition? – Do we have enough staff and skilled coders? How can we train coders for our practice? – How can productivity be least impacted during training, transition and implementation phases? – Will our IT department be able to handle ICD-10 transition? – What will be our final cost? – How do we manage our revenues during implementation of the new system? – Are our clearing houses and payers ready for the change?
Read more on blog.curemd.com • To read more on this topic, visit: • http://blog.curemd.com/awareness-key-to-asuccessful-icd-10-shift/
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