Anesthesiology Practices Affected By Icd-10 Conversion
Anesthesiologists and other healthcare professionals are preparing for an extensive
transition as a new set of diagnosis codes from the International Classification of Diseases, Tenth Revision (ICD-10) are mandated to be implemented by Oct. 1, 2013. The transition will increase the number of codes anesthesiology practices and otherhealthcare providers use nationwide by almost eight-fold.
How does this affect my practice?
The good news for physicians is that ICD-10 should produce a number of benefits, including improved outcomes analysis, greater diagnoses and payment precision, and improved efficiency in care documentation and claims processing.
The bad news is that failing to prepare adequately for ICD-10 could leave groups vulnerable to serious cash disruptions and compliance issues.
The new code set expands the field length of codes, allowing for the addition of codes supporting medical advances and increasing specificity in clinical documentation.
What business issues need to be addressed?
For anesthesiology practices, this will be a complex and resource-intensive transition. However, the benefits including more accurate
anesthesiology billingand claims processing in addition to improved business intelligence,will be realized quickly once the system is in place.As a result of coding and transaction standard changes, anesthesiologists will need to address several business issues in order to adhere to new coding compliance changes and minimize any potential disruption of care services and cash flow.
Readiness Assessment: Assess high risk areas from an operational, clinical, payer readiness and budget perspective in order to develop next steps.
Road Map Implementation: Map out next steps for the practice looking at everything from coding and documentation training to payer testing.Training:Coders and physicians must be educated on new requirements including codes sets, documentation and technology. The increased specificity component will require healthcare professionals to develop in-depth knowledge of anatomy and physiology.
IT systems:Existing applications and platforms may require modification to support ICD-10. Practice workflow may need modification to accommodate new information technology.
Contracts and coverage determination analysis:Health plans will likely modify coverage determination policies and reimbursement schedules. Contracts may also be altered.
Cash Flow:Practices must be prepared for the fact that even under the best circumstances; cash flow will slow down for a significant period of time.
Pre and Post Implementation and Auditing: Implement systems, technology, workflows, process, risk migration tools and support, augmenting your staff with industry experts and project leadership
The ICD-10 transition will affect not only claims and collections, but virtually all aspects of an anesthesiology practice. Financial consequences could be severe for organizations that delay or fail to adequately plan for the process.
What can I do to prepare for the transition?
To learn what your group should be doing to better meet all contingencies, download this in-depth
white paper, visit our
ICD-10 resource page and/or view an informative
webinar.
by: mckesson
Top 10 Most Popular Cadbury Products In Australia Pragmatic Ways Of Psd To Wordpress Conversion Implementing An Ideal Emr System For Your Practice Use Silicon Wristbands In Various Occasions Chakra-basics Amber Light Bar For Providing Efficient Warning Signals 3 Signs Your Manager Likes You Building Societies- Catering To Varied Needs Cnc Machining Technology Fans Fear The World's First "shut Down" Know About Four Wheeler Mobility Scooters Mobility Scooters Need To Be Charged Electrically Mobility Vehicles Are A Boon To The Uk Citizens