What is ICD-10 ?
ICD-10 is a diagnosis coding system used by doctors. It was developed by the World Health Organization (WHO) in 1993 and replaces ICD-9 of 1970s vintage. The United States has been slow in adopting it's version of ICD-10 and as of date is still using ICD 9 CM.
Why migrate to ICD-10?
ICD 10 CM and PCS (the US flavours) have many advantages over ICD 9 and help provide a more precise and detailed definition of diagnoses and procedures. This will allow greater, more precise and faster insurance payments. Since ICD 10 is more detailed, it allows for greater analytics which would lead to focused diagnosis and treatment protocols. This higher granularity would also lead to saving of costs in the form of lesser investigations and/or cost of care. In view of all these advantages the federal government in the US has mandated migration from ICD 9 to ICD 10 by Oct 2014 .
Is there an issue migrating to ICD 10?
Yes. It is a huge challenge to migrate all medical entities in the US (that are covered by HIPAA) to ICD 10 within the short period provided by the federal government. There is, therefore, a vital need to ensure that all medical personnel, coders and other people involved in day to day healthcare be moved from ICD 9 to ICD 10 quickly. And this needs to be done, literally, as of yesterday!
A study conducted by Nachimson Advisors, LLC and released by AAOS along with 11 other healthcare organizations, suggests that HHS has underestimated the cost of migrating to ICD-10. The study states that the implementation cost for a three-physician practice could be as much as $83,290, while a 100-physician practice might might be set back by more than $2.7 million. (Table 1).
It is therefore, imperative that all covered entities carefully plan and implement an ICD-10 migration program that is timely, cost effective and appropriate. Any hurried, patchwork might appear successful in the short-term but will end up being a costly proposition for years to come.
Covered entities all over the US are scrambling to migrate to ICD 10. The grim reality is that post the migration date entities that have NOT migrated will face the danger of delayed or stopped payments.
Our advice - do not delay this government mandated activity. Avoid disruption of payments. We provide ICD 10 migration consultancy and training. Call us to learn how you too can migrate painlessly - before it is too late!
Call us to learn how you too can get on to the fast track - today!
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