ICD-10 will have possible 68,000 alpha numeric codes, the growth is flexible and the shifting from ICD-9 is mammoth task which only has 14,000 codes with digital codes, and the space of growth isn’t flexible. The fact is whether the implementation of ICD-10 is a mammoth task or not, the delay in the implementation of new efficient approaches/methods/standards results in damaging of your business operations.
Though the cost for transfer to ICD-10 is around $285,000 for a ten-physician practice according to a study commissioned by eleven trade groups that includes Medical Group Management Association, American College of Physicians and the American Medical Association but this cost is better than the cost you may incur as a result of the delay.
Yes, you will need highly trained professionals adept with ICD-9 codes to go through tremendous amount and energy of training to even come close to making them skilled at using ICD-10. The American Health Information Management Association (AHIMA) prepared a comprehensive manual to assist healthcare providers with the ICD-10 transition process (in 2011). The fact of the matter is the sooner you start to implement the change the better it is for you.
An imperative phase of transition is planning, which involves determining your vulnerabilities and training requirements. To do this, you need to perform a risk analysis. The scheduled-training part of the planning process should not ideally take you more than 2-3 months prior to using ICD-10.
Implementation phase requires that you conduct rigorous staff training. Coders and other non-clinical staff members can take real advantage from training on medical terminology because to get familiar with ICD-10 you will need a broader foundation of knowledge.
A key phase of the implementation process requires that you monitor and adjust to the changes that are taking place in the transition to ICD-10. In this phase, the time required to make changes should be quicker and improvements should be made in real-time. Monitoring of reimbursement statistics in claim and denials, rejections and efficiency should be done with care. By doing so, you’ll be at the top of your game.
ICD-10 transition is not a piece of cake, but a dose of reality—it’s a laboriously time consuming and strenuous phase. Ultimately, this transition will result in an efficient healthcare management and will lay grounds for further improvement in ICD-11.