Deadline is October 1st, 2015
The discussion is back on about how replacing the current ICD-9 code set will impact practices and medical revenue cycle management
companies. How difficult will it be to identify and select the correct ICD-10 codes? How will the practice’s revenue be affected? Is the current
software being used ready right now to handle ICD-10?
What Percentage of Healthcare Facilities are ICD-10 Ready?
Statistics show that overall, only 41.8% of healthcare facilities have an ICD-10 implementation plan in place for the 2015 deadline.
There are two facets to being ready and implemented:
● The practice needs to be knowledgeable about ICD-10● The Software being used (PM & EHR) must be ICD-10 compatible and include a code
converter
Educate staff on the ICD-10 requirements and be sure that everyone is becoming familiar with the most commonly used ICD-9 codes and their corresponding ICD-10 codes.
How To Create a Smooth ICD-10 Transition
This is especially true for the providers since they most likely will be coding through the EHR during the encounter. If your current software already has a code converter built in, it should
be used now for “practice” purposes.
Typical CostsICD-10 implementation could cost $83,000 or more depending on the size of the healthcare facility.
These costs stem from:
● Staff Training● Various IT Charges● Potential Cash Flow Disruptions
Potentially minimizing these costs is possible if:
● The software vendor has an ICD-10 solution available at no additional cost.● The solution is already implemented (or will be soon) so that users can begin preparing
for coding conversions.
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