ICD-10 looms over Healthcare in America ominously. Many studies project that a tremendous number of ambulatory medical practices will have very significant cash flow shortfalls . Many of them actually may declare bankruptcy, because of the draconian changes in the required billing processes on October 1st, 2014. A number of sources of information, including the Federal government at CMS, as seen at http://www.cms.gov/Medicare/
Don’t get caught short. Arm yourself with the knowledge that will prove vital to your practice. Just as it took a year to learn anatomy, it will take your office a year to undertake the painful migration to using ICD-10 for all of your billing. To state the obvious, if you are not using ICD-10 for all medical services on or after October 1st, 2014, you will not be paid!
To state the less obvious, this is not an issue only for your billing department. You, the physician, will need to either:
Do the coding yourself (not recommended because of the tremendous amount of additional knowledge you will need in order to accomplish this), or
Produce a medical record with sufficiently detailed information and documentation that your billing department can code correctly.
Please note that the second item above will require a substantial change from the way that most physicians are now producing their medical records. Moreover, if you do not understand what will be required from your billing department, you may make inadequate and/or inappropriate changes in your documentation methodology.
Therefore, we strongly recommend that you, the physician, learn enough about ICD-10 to be able to modify your medical records in an appropriate fashion. Further, we recommend that you start doing so immediately, so that your team can be tested over the next number of months. In this fashion you will not be leaving substantial amounts of billable services unclaimed. If you do, the insurance companies will love you, but your account, your spouse and even your partners, will not.
This is an easily preventable problem. Start the process in the least painful fashion possible, with a readily available 24/7 online learning program. Then start documenting the way you will need to document, and test your billing department in their ability to code using ICD-10. Many insurance companies will be using parallel systems between now and October 1st, 2014, even beyond. Therefore,you will know with confidence that your systems are in place and rock solid.
Using the coupon code SAVE10EHR, you will save 10% on your entire purchase of the industry leading online training program. Click on the following link for further information and start preventing a financial nightmare for your practice.
Chief Communications Officer
EHR Scope, LLC