Last year, the HIPAA electronic claims standard changed from version 4010 to 5010, and the transition served as a lesson for the upcoming switch from ICD-9 to ICD-10.
The Centers for Medicare and Medicaid Services released four insights to apply the upcoming coding transition.
1. Early planning and preparation. Practices most prepared for to adopt version 5010 had planned well in advance of the deadline. Practices should develop a checklist of planning activities for ICD-10 and complete them on schedule.
2. Communication and coordination. Thorough communication and coordination is crucial within your office, as well as between business partners such as vendors, clearinghouses and billing companies.
3. Risk mitigation. Be aware of and address any disruptions that may occur during the ICD-10 transition time. This could include planning for slowed billing productivity or decreased cash flow. Don't let these disruptions catch your practice off guard.
4. Testing. ICD-10 testing should take place throughout 2013 to acclimate all involved personnel ahead of the 2014 implementation deadline. Be sure to test multiple types of transactions, and share your test results with business partners.
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The Centers for Medicare and Medicaid Services released four insights to apply the upcoming coding transition.
1. Early planning and preparation. Practices most prepared for to adopt version 5010 had planned well in advance of the deadline. Practices should develop a checklist of planning activities for ICD-10 and complete them on schedule.
2. Communication and coordination. Thorough communication and coordination is crucial within your office, as well as between business partners such as vendors, clearinghouses and billing companies.
3. Risk mitigation. Be aware of and address any disruptions that may occur during the ICD-10 transition time. This could include planning for slowed billing productivity or decreased cash flow. Don't let these disruptions catch your practice off guard.
4. Testing. ICD-10 testing should take place throughout 2013 to acclimate all involved personnel ahead of the 2014 implementation deadline. Be sure to test multiple types of transactions, and share your test results with business partners.
More Articles on Finance and Revenue Cycle:
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CMS Seeks Input on ICD-10 Testing With Listening Sessions
Health Law's CO-OPs Hit Wall in Fiscal Cliff Deal