Although October 14, 2014 is almost a year away; it is amazing how many practices and hospitals still do not yet have a plan for conversion from ICD 9 to ICD 10. Some have likened the conversion no less important or with similar unknowns as 1999 to 2000 conversion.
Andy Popple, President of MMS predicts that “hospitals and practices will see a 60-90 day cash flow hit” because of the industry wide unpreparedness. The scope of this project will not just effect computer operations but the entire practice; i.e. operations, software, and backend processes will all need thorough attention to the impact of ICD 10.
Most practices have become comfortable with and accustomed to the use of super bills. The super bill has most common diagnoses for the practice included on the bill so the provider can simply check a box that will be converted to the ICD9 code for billing will be rendered useless. Only 24% of the time will a one to one conversion be possible from ICD 9 to ICD 10. So what happens the other 76% of the time? The combination of codes with higher specificity is the whole point of ICD 10. How providers will now code visits and procedures will be the result of planning and education. How billing software handles the expanded codes, how the clearinghouses process these codes and how carriers both federal and commercial will pay these codes will require testing and ongoing dialogue with clearing houses and carriers. If your practice is not in the testing queue now, the likelihood of getting the attention you need to assure the practice of success is not optimal.
Can your practice/hospital afford a cash flow hit? Like all practices, you are dependent on cash flow to pay bills and salaries…..can you go without that cash flow or even a 50% decrease in cash flow for 60 days? 90 days? 120 days?
Medical Management Services wants to help practices and hospitals chart their way through the perilous waters of ICD 10 conversion. We take a three pronged approach to ensuring your success.
- Operational readiness
- Software readiness
- Post ICD 10 implementation audit
Our team of experts will assess your readiness, offer clear and practical remedies to where your practice is lacking in readiness and guide your team to conversion success.
Call us today and let’s get started…it’s already late!!