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After the deadline was pushed back one year, there’s no indication that the implementation of the ICD-10 codes in the US will be delayed again after the Oct. 14, 2014 timeline. That means every organization should be in the position to comply with the requirements or suffer penalties as a result. Medical regulators also agree that the implementation is not going to be a cakewalk as organizations are warned that they will risk their revenues in the implementation of the ICD-10, which would ease up incidents of provider waste and abuse. GAP and SWOT analysis At this juncture, companies should be able to adopt GAP and SWOT analysis to determine ICD-10 revenue cycle risks. GAP analysis is defined as a tool that will help the organization compare the actual performance with the potential performance. The SWOT, meanwhile, is an analysis of the strengths, weaknesses, opportunities and threats of a particular undertaking. With the GAP, you can understand the different coding impacts to each area or department. once you have those weaknesses and gaps pinpointed, you can then prepare a roadmap to address or mitigate the financial impacts. A good investment is the ICD-10 software which will make the job easier. Engage your physicians One of the most common hurdles toward the full implementation of the ICD-10 is the resistance of the physicians to come on board. A major part of this resistance is the sheer amount of codes and the need for specificity that will double or triple their documentation requirements. They think that they would not spend more time filling in the form rather than seeing patients. However, the physicians need to understand the situation and that they are part of a whole. This will also result to better healthcare for patients as well as ease up on provider waste and abuse which would, in theory, result to higher revenues and less financial spillage during reimbursements. Delegate, delegate Managing the workload is going to be crucial if you are going to succeed in the transition. At the outset, the organization should create a committee that is task to spearhead the implementation. However, the committee could not do it alone and this is particularly true in a large organization where there are different departments and even more different personalities. More than 50% of the committee’s task is communicating to the different departments what are expected of them to achieve ICD-10 revenue cycle targets. There are so many working parts in an organization and the organization must ensure that each working part is geared toward a common goal. Areas which are going to be directly affected by the ICD-10 transition include patient processing, revenue cycle, documentation, billing, diagnosis, and patient care. Jvion is specialist in ICD 10 coding systems for health care. ICD 10 used to report medical diagnoses. Find here more information ICD 10 revenue cycle and ICD-10 Software.
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