ICD-10 will affect revenue cycle management processes from top to bottom. Healthcare professionals should plan to comply with the new codes by October 2014.
Although the ICD-10 compliance date was pushed back a year to October 1, 2014, that doesn’t mean physicians can leave it on the backburner. In order to prevent the new coding system from affecting revenue cycle management, healthcare professionals are urged to get a jump start on preparations. Here are a few ways to get started.
Get informed. Different healthcare organizations, including the Centers for Medicare and Medicaid Services (CMS), the American Medical Association (AMA) and the American Health Information Management Association (AHIMA), offer information about ICD-10, as well as resources to help physicians make the transition. Learn as much as you can about the updating coding system and find out what you will need to do to in order to comply.
Form an ICD-10 team. Once you have found out what the transition to ICD-10 entails, put together a core group of staff members that can help your practice meet its goal. Be sure that each of your departments are represented, specifically your billing and coding teams, which will likely be the most affected.
Come up with a plan. Work with your ICD-10 team to come up with a plan about when the transition will take place and how it will be handled. Will you be working with outside consultants, or will you take care of everything in-house? How will training be addressed? Are you aware of the different aspects of your practice (not just revenue cycle management) that will be affected by the switch in coding systems? These are all important questions that need to be asked and answered prior to moving ahead with ICD-10.