ICD-10 Will Cause Mergers, Acquisitions, and Takeovers
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Depending on who you talk to, there may or not be benefits of the new ICD-10 code implementation coming by October 1st.
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CMS to allow more Flexibility in ICD-10 Claims Auditing
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It’s crunch time for healthcare providers as the deadline for the ICD-10 transition quickly approaches and anxiety intensifies. In order to ease that anxiety, the Centers for Medicare and Medicaid Services has announced it will reimburse incorrectly-coded claims under the Part B physician fee schedule, so long as the incorrect code is from the right family.
Read MorePrepare for ICD-10's Financial Impacts Now and After Oct. 1st
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ICD-10 implementation is just 2 months away and it is significantly impacting many practice’s financials even now. A small practice can expect to spend as much as $2,000 or even $3,000 per provider to convert to ICD-10 according to the Professional Association of Health Care Office Management. It is imperative to set aside cash reserves now or apply for a line of credit to help mitigate increased expenses before Oct. 1st and revenue reductions after Oct. 1st.
Read MoreMitigating ICD-10 Concerns
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As healthcare organizations prepare for the ICD-10 changeover on Oct. 1, there are concerns arising about harmful impacts, which are sometimes overstated. The first is fear that there will be productivity loss due to the complexity and size of ICD-10.
Read MoreThe Myths vs. the Facts Regarding ICD-10
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The following are some clarification of myths from Medical Economics that are circulating about the upcoming transition to ICD-10:
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