In only a couple months, the United States will be transitioning from ICD-9 to the new ICD-10 regulations. The new coding system will improve the quality of data and allow physicians to get reimbursed more efficiently. Updates include more specific procedural codes and diagnostic codes, making it easier on healthcare organizations.
Many fear that productivity will decrease and technical problems will cause healthcare to be less efficient rather than more so. It will be a difficult transition; however, we will not be the first country to implement the new system. In fact, Canada and Australia have already been using ICD-10 since the early 2000s.
Lessons to Learn from Canada’s Implementation of ICD-10
There are lessons to be learned from the ICD-10 coding transition in Canada. Canada implemented ICD-10, but did not properly train those coding on the new regulations. For this reason, both efficiency and accuracy plummeted.
Investment of time and funding are essential. Workshops and/or educational training sessions Those training need to be informed, and in turn those coding under the new regulations need to be informed. Without training, the shift to new codes will create confusion for all involved - the patient, the physician, and the practice.
The transition will take longer and create more chaos without educated and informed professionals leading the process. Not only that, it could potentially be quite costly.
Preparing for Implementation
First and foremost, it is important to evaluate the current status of your practice. How is your current productivity? Prepare for the changes that come with the new regulations. Look into current documentation and EHR processes. What will change? Are you prepared to make that change?
Analyze the direct impact on your practice. Invalid codes or failed transactions result in more denials. Look into what procedures and diagnoses you currently code, what will change, and how you will account for that change. Take into consideration whether some procedures will take longer to code under the new regulations to adapt for peak productivity.
Be prepared to hire more staff if need be. Coding under ICD-10 may require more hours spent billing and coding - not to mention training - and more staff may be required.
Have Questions About ICD-10 Compliance?
With the encroaching October deadline, it is essential that your practice is ready to make the shift to the ICD-10 regulations. Trust Medical Business Management to make the shift efficiently.
Our trained experts are ready to provide the ICD-10 coding services you need to ensure that you are getting paid appropriately for your services. Contact Medical Business Management today to learn more.
