Thursday, March 5, 2015

ICD-10: Get your practice ready for the biggest change

The biggest change to the healthcare industry, ICD-10, will come into effect on October 1, 2014 to replace the old ICD -9 system of diagnostic coding. It will also increase the number of diagnostic codes from the current 14,000 to 68,000, signaling a fivefold increase. ICD-10 will enable physicians to track and trend diseases better, code accurately, support future technology, support new payment models, improve utilization and manage quality.

In addition, business-process analysis of health plans, coverage limits, documentation, changes in superbills, system changes, cash flow disruption, staff education and increase in documentation costs will also add to the complexity that ICD-10 will bring to providers.

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