ICD-10 consulting will shift to testing and revenue cycle impacts in the next few months. Testing is the only way to ensure business continuity.
There are relatively few increases in ICD-10 codes in behavioral health relative to high impact specialties such as Orthopedics. There are 27 ICD-9 codes for Anxiety Disorders and 47 codes under ICD-10 for example, vs. thousands of code changes in some specialties. Therefore, some behavioral health providers assume in error that because there are fewer codes that the ICD-10 transition has little impact on their organization, which is not true.
ICD-10 Assessments today need a faster start because there is less time to spare to get ready for the October 1, 2014 2015 deadline. What you don’t know can hurt your reimbursement if you are a provider, and put you at risk of fines if you are a payor. For most health care providers, [...]
ICD-10 Financial Risk Assessments should include an analysis of historical healthcare claims data for one, two, or ideally three retrospective periods. A data quality assessment is essential, making sure that claims are not duplicates, and that they therefore represent unique events. This is particularly important in view of interim billing on hospital claims. It’s very easy to count hospital admissions multiple times from claims data unless you reconcile claims to a single hospital stay.
ICD-10 readiness information collected from 2,600 providers, health plans and vendors indicates that the industry would not have been ready on time for ICD-10 according to the Workgroup for Electronic Data Interchange (WEDI).
We find that most analytics and revenue cycle companies are ignoring the future role coordinated medical coding will have, the transition to ICD-10, and the clinical documentation and processes on the revenue cycle. The ICD-10 transition will re-write the book on revenue cycle management (RCM). RAC audits and Electronic Medical Records (EMRs) will be subject to a new paradigm with ICD-10.
ICD-10 assessments should start with a thorough understanding of how to communicate, educate, train at all levels. Here are some topics our team can speak to for your organization including “ICD-10 Organization Strategy” and “ICD-10 and Business Continuity Planning” We have given many presentations throughout the US in the past year.
Some health care organizations are now looking for "...A good ICD-10 project manager..." to lead the ICD-10 effort. This appears for some to be budget driven. Rather than retain an outside consulting firm, some health care companies want a project manager who can deal with the regulatory, payor and provider contracting, physician outreach experience, medical [...]
Many providers and hospitals are putting off ICD-10 conversions, because they are already struggling with EHR and meaningful use. Funding is another challenge. Durel has heard from people who don't think ICD-10 is a big deal. He thinks otherwise. "... if you don't get it right, you're not going to get any bills out after Oct. 1, 2013," Durel said.
If you are shopping for a tool for converting ICD-9 to ICD-10 diagnosis and procedure codes, make sure that you include subject matter experts in the area on your selection team, and create challenges for the vendors to overcome that represent real-world clinical scenarios - not canned demonstrations.
During our year-end strategic planning session we broadened our company's footprint to more accurately describe what we do. We explain the current market landscape and how we as well as our name fit into the health care business. "Today the health care delivery system creates siloes that do not efficiently work together to control cost [...]
No World Borders, Inc, a leading healthcare management and IT consulting company closed its second private equity investment round led by Palos Verdes Venture Partners (PVVP) based in Los Angeles, CA.