IS YOUR MEDICAL CODING VENDOR READY WITH ICD-10???
1st October 2015, a day that will be remembered in the history of American Healthcare and a day every physician and facility in the US are eagerly waiting for. On this day, the Healthcare industry will remarkably witness a shift in the scenario of ‘how medical coding is done’ from ICD-9 coding system to ICD-10-CM (diagnoses) and ICD-10-PCS (procedures). The ICD-10 coding system is already implemented across many developed countries in the world and the US will be the latest member to join after many inconclusive debates and discussions.
ICD-10 has a historical origin and is the latest addition to the ICD(International Classification of Diseases) series approved by the 43rd World Health Assembly in May 1990. Many WHO member states started following the ICD-10 coding system as early as in 1994, followed by the UK in 1995 and then by rest of the Europe in 2000.
Significance of ICD-10
All the departments under the Healthcare umbrella are bound to be impacted by ICD-10 coding system. The first phase i.e the transition from ICD-9 to ICD-10 is guaranteed to experience a financial turmoil if the physicians and facilities are not properly trained.
The ICD-10 coding system with its large set of detailed codes is expected to bring a positive result for the Healthcare industry. The codes help in understanding and identifying the areas for investment in medicinal procedures. The WHO also uses the ICD-10 code set to track its metrics related to mortality and comorbidities at an international level.
- Improvement in quality of patient care
- Health policy planning and Research
- Offers precise evaluation of future new medical procedures.
- Helps in understanding, tracking and Measuring the care outcomes
Why outsource ICD-10 coding services
Training your coders in ICD-10 codes alone is not sufficient as ICD-10 primarily deals with justifying the necessity of a medical treatment. The ICD-10 coding process is robust and requires more patient information than what is available to coders. If the documentation is not clear the chance of a physician’s involvement and spending more time with the coders is very high. To keep yourself free from increasing denials and other obstacles that can potentially impact your revenue, consult and outsource your ICD10 coding services to Promantra.
Saving training Costs
If you’re staff is not seriously trained to deal with the large set of ICD-10 codes, the revenue graph is guaranteed to fall due to increase in denials and compliance issues if coding is not done accurately. By training the staff you’re investing lots of money and also wasting valuable time that can be used for managing patients or other work. Outsourcing your coding to professionals not only save time but also increases revenue.
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