So now that ICD-10 is less than one year away, has your practice started thinking strategically thinking about the best possible transition? Have you been researching the most common CPT codes? Have you talked to your software vendor about upgrades related to ICD-10? Is there a training plan in place for your staff?

The expansion of codes can be overwhelming but it doesn’t have to be as painful as everyone makes it out to be. For the purpose of this blog, we’ll simplify to address some of the major concerns.

Documentation

Payers are easy to deny claims based on unspecified codes and when ICD-10 hits it will become even easier to deny your claims. So best practice would be to be as specific as possible when coding so research your most common diagnosis and research the lateral comparison for when ICD-10 takes affect. CMS has provided a great tool for starting research here.

Productivity

If you’re not prepared for ICD-10 then it is guaranteed you’ll lose revenue due to a loss in productivity. Investing in ICD-10 training, researching commonly used codes, and having a “game-plan” for the transition will be far less costly.

Reimbursement

Without proper coding you simply will not get paid. Without knowledgeable coding you simply will not get paid as much. Review your reimbursement contracts among your top five payers and estimate the impact or changes necessary to maintain the same level of reimbursement. Due to the specificity of ICD-10, you’ll likely even find opportunities to increase revenue for your practice.

To get a free ICD-10 readiness assessment contact HealthCell today at 630-297-8501.