By now, you’re probably bracing your practice for the conversion to ICD-10 code sets. Maybe you’ve even already budgeted for the major initial costs.
But even if you’re well prepared for the technology purchases and administrative training time the switch will require, ICD-10 could still hurt you if you’re not aware of its potential consequences.
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If your practice is not ready to make the switch to the ICD-10 coding system on October 1, 2013, payments will stop for services provided after that date.
Healthcare providers who are unprepared for the ICD-10 deadline will face cash-flow disruptions, billing backlogs, increased claim rejections and denials, as well as an expensive path to get back on track.
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The American Medical Association (AMA) concluded their most recent policy-making session with their delegates voting “to work vigorously to stop implementation of ICD-10.”
The AMA’s opposition of ICD-10 (The International Classification of Diseases and Related Health Problems, 10th Revision) is based on the potential disruption it will cause to healthcare providers.
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The impending transition from ICD-9 to ICD-10 diagnostic coding sets has healthcare providers concerned over the confusion that may result when they switch from roughly 18,000 codes to nearly 150,000.
The Centers for Medicare & Medicaid Services (CMS) is attempting to alleviate some of the anxiety for the October 2013 deadline by publishing a guide to implementing ICD-10.
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