ICD-10: Flash Forward to 2014
Flash forward to February 1, 2014, four months after your practice or organization has started using ICD-10 codes. As you review how well the transition went, what do you see?
Was your practice or organization successful in…maintaining coding accuracy and productivity; retaining a stable accounts receivable position; and sustaining a viable cash flow?
These three goals can’t be achieved without support from you and others during the implementation process. It’s the hard work and execution by many individuals in various roles that will lead to your organization’s successful transition to ICD-10.
It is imperative that everyone understand how they can influence financial outcomes and, more specifically, support workflow processes. To have a “This is very important to our success” attitude rather than a “This isn’t my problem” approach as it relates to the implementation of ICD-10 is crucial to a smooth transition. You must take ownership and personally commit to proactively preparing for this significant change. Otherwise, the view on February 1, 2014 may be disappointing and frustrating.
There are a lot of cogs in the ICD-10 wheel, focusing on only the coding aspect and skipping over the billing and technology outcomes; for example, you could see increased claims denials, declines in productivity, and other negative results. It will require hard work by many individuals in various roles to ensure your practice or organization successfully transitions to ICD-10.
By understanding the broad impact this change has on healthcare and, more specifically, your practice or organization, you can play a major role in minimizing potential negative outcomes, and begin to proactively work toward:
- Maintaining coding accuracy and productivity
- A stable accounts receivable position
- Sustaining cash flow
Over the next several weeks, we will creating additional blog posts focusing on the steps you can take within your organization to make this transition as smooth as possible.