ICD-10 – What’s Next
Yesterday was the ICD-10 deadline. What does that mean exactly? Obviously, there has been an enormous increase in codes and their specificity.
There is some speculation that medicare, medicaid, and private insurers’ claim payments could be delayed due to incorrect or incomplete codes.
If that happens, I would venture to say that it would probably result in lost time, revenue, and tolerance in general.
CMS has been reassuring that there will be flexibility, resources, and options during the transition. When there are delays in claims, that means restricted cash flow.
Do you have a contingency plan?
Have you set up a line of credit, just in case?
Or do you already have a billing solution that has you covered for possible delays?
Ultimately, no one can be certain of all the glitches, potential delays, and how it will affect your bottom line.