ICD-10:Are you ready? We are!
Posted by Patrick Ales on Thu, Aug 18, 2011 @ 04:13 PM
Recently a physician contacted MedPro Solutions looking for billing information. He was interested in outsourcing billing as his software vendor was not ready for the 5010 upgrade and were going to charge him $35, 000 to accomplish; something they had not yet taken through beta. Amazing news as the go live deadline for 5010 compliance is January 1, 2012.
The ICD-9 and the 4010 file structure have been in place since 1979 for inpatient procedures: almost the entire life of the computer industry. After over 30 years of using ICD-9, switching to ICD-10 will be a major challenge.
The new code structure incorporates a unique code for substantially all procedures, offers expandability, and is multi axial thus enabling coders to construct more accurate code meanings. The structure is a seven character alphanumeric code structure requiring all billing systems to convert current coding fields to accommodate the changes. Technically speaking, ICD-10 codes require the 5010 HIPPA platform to be in place before use. 5010 brings about a data conversion, converting all non-compatible 4010 fields to the newly adopted 5010 data fields.
With the fast approaching HIPPA 5010 requirement and approximately 72,000 ICD-10-PCS codes, cash flow becomes a major concern. MedPro prides itself on compliance and is ready for the challenges CMS and the International Classification of Diseases 10th Revision Procedure Classification System have to offer.
MedPro is 5010 compliant and ready to hit the ground running with 5010/ICD-10 billing requirements. MedPro can eliminate the costly expenses associated with these technical issues and allow you to focus on your primary responsibility: medical care.
Blog written by Ruth Patterson, Associate VP MPS Operations