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Miraca Life Sciences Offers Webinars on ICD-10 Compliance
Date:1/8/2014

helping healthcare providers meet this challenge.”

ICD-10 will apply to all providers, and compliance with the new code regulations will be required by October 1, 2014. According to the Centers for Disease Control and Prevention, the Tenth Revision (ICD-10) differs from the Ninth Revision (ICD-9) in several ways, although the overall content is similar: First, ICD-10 is printed in a three-volume set compared with ICD-9's two-volume set. Second, ICD-10 has alphanumeric categories rather than numeric categories. Third, some chapters have been rearranged, some titles have changed, and conditions have been regrouped. Fourth, ICD-10 has almost twice as many categories as ICD-9. Fifth, some fairly minor changes have been made in the coding rules for mortality.

The impact of this shift is substantial. Not only does the new code set include five times as many codes as the ICD-9 code set, the different arrangement of codes will require more documentation, revised forms, re-training of staff and physicians, and changes to software and other information technology. Changes in reimbursement patterns may also result from the increased specificity of the new code set.

Implications could include:

  • Revenue Shortfalls: Improperly coded diagnoses and procedures will not be reimbursed. The bottom line is that claims will get rejected and revenue will be negatively impacted.
  • Cash Flow Restrictions: The accounts receivable cycle will increase due to the delays in reimbursement.
  • Operational Inefficiency: If staff is not properly trained in the new code sets ahead of time, productivity will decline as they struggle to make the transition in real time.

“As a leading pathology service provider, we’ve always had a focus on technology” noted Kelly. “We’ve worked with numerous EHR systems, and we have a strong history of providing workflow efficiencies and solutions to our cl
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