Here is a sneak peek into our whitepaper, "The Perfect 10: Planning an ICD-10 Conversion for Maximum Productivity and Profits." Find out how your practice can maximize your investment with a well planned out ICD-10 Conversion.
The Major Challenges of ICD-10 Conversion
In previous ICD transitions, each old code simply became a corresponding new code. And those were difficult enough. With ICD-10, it is expected that any single ICD-9 code will have multiple (at least two) possible ICD-10 codes. Some may have more than ten possible sections.
So, conversion will likely not be a simple matter of substituting one code for another. Moreover, because the system is more detailed overall, coders must be extremely careful to make distinctions that were not necessary before to make accurate selections. A billing system having a built-in coding converter will definitely help.
Selecting wrong codes will delay reimbursements and negatively impact cash flow which is the very essence of the entire concern about ICD-10. It is for this reason that virtually every payer and even CMS itself suggests that practices and RCM companies maintain solid cash reserves or prepare to have lines of credit available in the event of mass miscoding and subsequent denials.
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