Here are three predictions about ICD-10 in the coming year from Edifecs' Senior Director of Product Management Ryan McDermitt, according to PhysBizTech.
1. It's a set date. Healthcare professionals may be pondering whether or not Health and Human Services will consider further postponing the ICD-10 implementation date, but it will not happen, Mr. McDermitt said. HHS would not want to risk the backlash from healthcare organizations already in full swing to meet implementation requirements.
2. It will create a domino effect. Unlike other government mandates, ICD-10 requires collaboration from payors, providers and third-party vendors. External testing will become a priority in 2013, though providers may not be ready to test until 2014. All parties should expect a "logjam" and disruption previously unseen in the industry from rushed collaborative testing, he said.
3. Expect cash flow disruptions. Clinician and coder productivity will decrease due to the added work, especially for providers who choose to use both ICD-9 and 10 codes prior to the transition. This may seem like a good idea to give clinicians ICD-10 practice, but it could cause documentation delays and payment delays. Providers should start looking at budgets and resource allocations to avoid a shortfall.
More Articles on Coding, Billing and Collections:
Sequestration & Medicare Cuts: Likely Result From Fiscal Cliff Talks
Obama Administration Asks EMR Vendors to Increase Patient Safety Reporting
Emergency Room Costs Rise, EMRs Not to Blame
1. It's a set date. Healthcare professionals may be pondering whether or not Health and Human Services will consider further postponing the ICD-10 implementation date, but it will not happen, Mr. McDermitt said. HHS would not want to risk the backlash from healthcare organizations already in full swing to meet implementation requirements.
2. It will create a domino effect. Unlike other government mandates, ICD-10 requires collaboration from payors, providers and third-party vendors. External testing will become a priority in 2013, though providers may not be ready to test until 2014. All parties should expect a "logjam" and disruption previously unseen in the industry from rushed collaborative testing, he said.
3. Expect cash flow disruptions. Clinician and coder productivity will decrease due to the added work, especially for providers who choose to use both ICD-9 and 10 codes prior to the transition. This may seem like a good idea to give clinicians ICD-10 practice, but it could cause documentation delays and payment delays. Providers should start looking at budgets and resource allocations to avoid a shortfall.
More Articles on Coding, Billing and Collections:
Sequestration & Medicare Cuts: Likely Result From Fiscal Cliff Talks
Obama Administration Asks EMR Vendors to Increase Patient Safety Reporting
Emergency Room Costs Rise, EMRs Not to Blame