In a vote on Monday March 31, the senate approved a temporary fix for the (sustainable growth rate) payment formula for Medicare. This move was expected. The unexpected move was the delay of ICD-10 for at least another year. Kimberly Davis, Vice President for Medical Management Services said that “this move will in no way effect the MMS approach to ICD-10 readiness, its full steam ahead.”
On Thursday the House of Representatives passed a bill to temporarily “fix” the MCR payment problem that has been plaguing providers for several years. Instead of repealing the law which would mean providers would receive a 24% decrease in payments, the law would stop the decrease temporarily for 1 year. Added to this bill was a delay to the start date of ICD-10 by one year.
CMS put out a great file back in September 2012 about the transition to ICD-10. This article Medical practices layout a checklist to give medical practices a practical appraoch to meeting the October 1st deadline for the new ICD-10. The ICD-10 transition takes planning, preparation, and time, so medical practices should continue working toward compliance. The following quick checklist will assist you with preliminary planning steps.
An email from a vendor came the other day saying that their tools were designed to make conversion to ICD 10 easier. So my interest peaked until the reality sunk in that it was really just a sales ploy.
“Chief Strategy Officer”, an interesting title. And in these unsure times, may be just what healthcare practices need. Everyone is under the pressure of what will happen next. How do we capitalize our strengths, minimize our weaknesses, deal with the healthcare exchanges, satisfy patients, make more money for providers, and convert to ICD 10; all while increasing our dependence on technology? Expensive technology.
New studies indicate that new habits take about 2 months to become routine. That means the new EHR takes 60 days to even get used to, much less take advantage of cost savings associated with using. For providers, the habit of documentation (and it is a habit) will take some time to change in order to meet ICD 10 guidelines.
MedPro Solutions, the billing arm of Medical Management Services is preparing for ICD 10. In order to serve billing customers, MPS began readiness training in early 2013. While the potential for loss of revenue is the number one concern among the healthcare industry, MPS commits to maximum preparation as Oct 1, 2014 approaches.
Since 1977 healthcare practices have been using ICD 9. It’s become familiar and habitual. Everyone knows exactly where on the superbill the appropriate diagnosis is for the patient just seen. The prompting box is checked along with the procedure and off the superbill goes into the billing process. Most perform this task almost without thinking.
Are you too busy to take a hard look at your operations to be able to make the changes needed to make the impact your practice needs to be really financially and operationally robust? Are you putting off inevitable decisions because daily routines do not give you the thinking time you need? Are you keeping a “warm body” on payroll because of the hassle? Do you know what changes need to be made but don’t have the determination to really make them?
“Chief Strategy Officer”, an interesting title. And in these unsure times, may be just what healthcare practices need. Everyone is under the pressure of what will happen next…..how do we capitalize our strengths…minimize our weaknesses, deal with the healthcare exchanges, satisfy patients, make more money for providers and convert to ICD 10….all while increasing our dependence on technology…expensive technology.
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