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ICD10 costs are a whole lot higher than expected! Will physicians be ready by October?

February 20, 2014 by Ango Mark Leave a Comment

ICD-10 Implementation

Eyes to the skies! ICD-10 costs are skyrocketing!

The titters have died down! Forget those jokes about walking into a lamppost and macaw bites. ICD-10 is going to bite medical practices much harder. With the deadline for implementing ICD-10 looming closer. It is time for medical practices to do more than just wait for the next pushback announcement.

As every day, news trickles about the cost of implementation and the impending deadline, physicians are shaking in their boots. But there is little hope for another deadline shift.

The shocking increase in costs over the last four years!

The approximate cost for implementing ICD-10 in 2008 was $83290. Four years down the lane the costs have escalated to $226,105.

Medium sized practices are going to feel the pinch as well; from costs estimated to be 285,195 in 2008 it has now skyrocketed to 824,735. And the costs are going to be as much as 8 million dollars for large sized medical practices.

The costs come as a sticker shock for medical practices that are still reeling under the pressure of accommodating the enormity and breadth of ICD-10. Medical coders who were using a coding system for several years are now faced with the challenge of working with codes that are absolutely foreign to them.

Though people on the other side of the wagon argue that greater specificity can help researchers and increase reimbursements, long term pay offs mean short term losses.

It is not going to be an easy transition…

Well almost everybody knew it! Right from the day ICD-10 was announced there have been voices of dissent. But as the deadline draws near it is clear that physicians have been caught off guard. It is going to change the workflow of medical practices and medical practitioners are justifiably, freaked out.

Still don’t have an ICD-10 coder?

Practices cannot afford to bill without a trained coder. Hiring novices means struggling under a deluge of rejected medical claims. An increasing number of medical practices are thinking of hiring virtual coders. Or, fall back on the time tested solution of outsourcing.

It is the hour of reckoning and practices should either ramp up their implementation process or stay behind. Complaining about the costs is not going to help physicians. Trying, to find ways to protect their revenue stream, and, investing in the new coding system, will.

Filed Under: ICD-10, Medical Coding Tagged With: ICD 10, icd-10 cost, icd-10 implementation, ICD-10 Medical Coding

Why Inadequacies In Clinical Documentation For Anesthesia ?

July 31, 2013 by Ango Mark Leave a Comment

Bogged Down with Clinical Documentation for Anesthesia using Complex, Tough, and Ever-Evolving Coding Systems ?

Are you unable to accurately and thoroughly document the surgical and anaesthesia processes and use the right combination of billing codes and modifiers for timely and proper submission of medical insurance reimbursement claims ?

Are you experiencing nightmares due to lack of awareness of multiple ranges of anaesthetic reimbursement guidelines adopted by different insurance companies ?

The era of inconsistent, inaccurate and incomplete Anaesthetic Documentation: According to a survey conducted by Academic Health Sciences Centre, Montreal, Quebecmany of the preoperative and intraoperative variables which are important for documentation of anaesthesia are recorded inconsistently and incompletely.

Why the need for Precise and Thorough Clinical Anaesthetic Documentation ?

a• A thorough and precise clinical anaesthetic documentation helps in capturing the right combination of the diagnostic/treatment code coupled to the appropriate modifier to depict the actual surgical scenario under which operations are performed.
b•  Such an optimal combination of codes and modifiers, along with justified need for the treatment and approved care, helps in sending the correct medical reimbursement claims to insurance companies for speedy receipt of claims, without denial of claims and need to resubmit and follow up the claims.
c.•  The cumulative process results in maximizing revenue and profits.
To survive and prosper, you need to enhance documentation, boost coding accuracy, decrease denials, and safeguard payments.

Other plus points of Medical Documentation :

Medical documentation of procedures and events while a patient is under anaesthesia, serves as patient-safety tool, medico-legal document, quality assurance analysis, and dictates the outcomes in medico-legal cases. The record warrants attention to ensure its optimal contribution to patient care.

Correctly appending the appropriate modifier to the diagnostic, procedure and treatment code is critical, according to Marvel J. Hammer, an accomplished professional with considerable years of experience both in the business and medical fields.

For an anaesthesiology practice to get reimbursed fully and properly from the insurance agencies for its work, anaesthesia coders must be fully conversant of the intricacies of the differences between a plethora of anaesthesia processes, for instance, conscious sedation, monitored anaesthesia care (MAC), general anaesthesia, and so on. In addition, they must be fully aware of the special modifiers to be reported.

Why the urgency and criticality ? There are more than half-a-dozen issues :

a•  Improvement in anaesthesia documentation is critical, since documentation can make or break up the business of anaesthesia providers.
b•  In this economic scenario, anaesthetics have to cope-up ever-increasing patient rush, federal and state health regulatory stipulations, and quality care at affordable costs.
c• On and after October 1, 2014, entities covered under the Health Insurance Portability and Accountability Act (HIPAA) are required to use the ICD-10 code sets in standard transactions adopted under HIPAA. The HIPAA standard health care claim transactions are among those for which ICD-10 codes must be used for dates of service on and after October 1, 2014. This implies that the in-house billing and coding staffs are aware of these changes.
d• ICD-10 diagnosis codes have different rules regarding specificity and providers/suppliers are required to submit the most specific diagnosis codes based upon the information that is available at the time.
e• In addition, ICD-10 Procedure Codes (PCs) will only be utilized by inpatient hospital claims as is currently the case with ICD-9 procedure codes.
f• For instance, many carriers have special policies regarding reimbursement for anaesthesia, which are surgical/treatment-specific such as during endoscopy. This needs familiarity with respective insurance companies to ensure that the documentation supports what the insurer requires.
g• There is a need to be up to date with the latest coding guideline, and the ability to pinpoint small differences when the descriptors to some of the most common codes change.

3 Examples of intricacies of accurate, exhaustive clinical documentation :

a• Every detail supporting moderate sedation is crucial, considering how closely insurance companies audit the medical necessity and authorization.
b•  Correct calculation of time for which anaesthetic services, including time for which the surgeon is present, and so on, are provided.
c•  Assigning the correct add-on code when the anaesthetic service lasts longer than 30 minutes (each additional 15 minutes intra-service time), taking care to match the add-on code with the appropriate base code.

The way out of this impasse :

Relax….and Rest Assured and get rid of your nightmares by outsourcing your documentation, coding and billing worries to MedicalBillingStar, an established, experienced one-shop outsourcing vendor.

Why MedicalBillingStar ?

Anesthesia billing is completely unique compared to other specialties and MedicalBillingStar with a commitment to excellence has been billing for anesthesia practices has been billing for anesthesia practices. We streamline documentation, resulting in more efficient billing, and most importantly, better patient care and engagement which ensures that the necessary data is accurate. We offer a sophisticated customized EHR platform for anaesthesiologists and our solutions facilitate secure distribution of information and shortening the reimbursement cycle for anaesthesiologists by ensuring that all required data is present and complete, thus eliminating claim rejections.

Filed Under: Anesthesiology, ICD-10 Tagged With: anesthesiology billing company, anesthesiology billing services, anesthesiology medical billing services, ICD-10 Medical billing, ICD-10 Medical Coding

The AMA Suggests That Physicians Should Focus On Billing. Are You?

July 10, 2013 by Ango Mark Leave a Comment

clinic medical

Are you losing out on billable dollars ?

This is not the best time to be a healthcare provider! Financial constraints and regulatory pressures are giving physicians, sleepless nights.   Doomsayers have crawled out of the wood works to proclaim that medical practices are going to fold up and die.

It is certainly not like healthcare is circling the drain hole. But it is essential that medical practices up their game to stay afloat.

Still stuck with a payment contract that is five years old ?

The major mistake that healthcare practices make is to get paid much lower than the services they provide. Nobody likes getting on the phone and haggling with insurers. But what has to be done has to be done! Frequently negotiating reimbursement contracts will go a long way in increasing revenue.

Thorough claim analysis and evaluation of top paying CPT codes every three months can prevent and clot the bleeding.

It is okay to discuss money with patients !

Do you feel delicate when discussing about money with patients? Instead of dillydallying be forthright with your patients about treatment costs and payment options. Give them a lowdown on what and how much the insurer will cover.

A lot of patients promptly sue their doctor the minute they receive a bill. Discussing about payment prior to a medical procedure will prevent heartaches and heated arguments.

Don’t rely on straight- out of a- can solutions…

Most EMR/EHR systems come with coding and billing features. But no matter how loaded your system is, don’t lean on it completely. There are certain factors such as duration of treatment or the extent of injury that play a crucial role in increasing reimbursement. Middle of the road coding isn’t going to cut it anymore.

Why work just eight hours ?

As pressures mount and operational costs skyrocket, outsourcing has become a viable option. It makes a lot of sense to work with a billing company that works 24 hours. You not only process claims faster you can clear revenue backlogs.

Furthermore it is a nice feeling to walk in to your practice the next day knowing fully well that your biller has transmitted your claims to the insurer. And that now, finally, the accent will once more be on patient care.

Filed Under: EHR, EMR, ICD-10, Medical Billing, Medical Coding, Revenue cycle management Tagged With: billing company, billing services, EHR, EMR, Healthcare, Physicians, Revenue cycle Management

Complicated Crosswalks, More Codes And Stricter Documentation Requirements. But ICD 10 Is Not The Loch Ness Monster !

May 15, 2013 by Ango Mark Leave a Comment

Are you ready to get cracking on ICD 10 ?

The deadline for adopting ICD 10 is inching a little closer every day ! It is time for the eternal question. Are you prepared? A study by the Health Revenue Assurance Associates says that 20% of medical practices are yet to start an education or training program on ICD 10.

About half of the medical practices surveyed were way behind timelines set by Medicare and Medicaid. The transition is going to be tough. No matter what mild mannered, reassuring experts say ! And that is why the sooner a practice makes the switch, the better.

Confounding crosswalks…

Medical practitioners who think cross-walking ICD 9 codes with the latest codes is just a matter of few mouse clicks, have a second think coming. The General Equivalence Mappings does offer a detailed crosswalk of both the coding systems.

But the fact that there are very few one to one matches between both coding sets is going to make the transition, tricky.

According to a study by researchers from the University of Michigan and Illinois, mappings for specialists are going to be, especially, complex. Emphasis has to be laid on understanding and managing, mapping categories and networks.

ICD-10-Crosswalk

A little bit of effort from everybody…

It isn’t the coding or billing team alone that is going to struggle with the new codes. It is going to take a bit of effort from all concerned.

As ICD 10 is all about greater specificity and granularity, physicians will have to focus more on the medical documentation they send to the billing team. More documentation could mean just one thing, more revenue !

Have you forgotten your insurer ?

Well, your insurer is a part of your team as well. Ask for a testing plan and send a few “test” claims to the insurer. Coordinate with your payers to make sure you are ready for the D day. Keep in mind that you cannot send ICD 10 claims till the compliance date. But don’t let that stop you, from sending out trial claims, to payers.

Why ICD 10 is not the Loch Ness monster, after all !

The entire hullabaloo surrounding ICD 10 makes the codes look like small, poisonous creatures, out to get physicians. In the long run ICD 10 can prove to be good for practices. It could mean more accurate payment for medical procedures. Fewer miscoded claims. And, a better idea of how much you’d be paid, prior, to a medical treatment.

Filed Under: 2013, 2014, ICD-10, Medical Coding Tagged With: Healthcare, ICD 10, ICD-10 Certified Coders, ICD-10 Crosswalk, ICD-9, Medical Coding, Physicians

At 84,000$ Will ICD 10 Sound The Death Knell For Private Practices?

February 21, 2013 by Ango Mark Leave a Comment

Will Your Practice Get Caught, In The ICD 10 Quicksand ?

ICD 10 is lurking round the corner. 55,000 more codes and an entirely new coding structure is no stroll in the park.  Medical practitioners might just be thrown of track. It is being feared, that it could be a deathly blow to practices, which operate on small budgets. Small medical practices will be forced to align with hospitals to survive in this tough economic climate.

ICD-10-Medical-Coding-Infographic

Another Nail In The Coffin For Small Practices…

ICD 10 is being likened to Y2K. Though it petered out eventually and died a natural death, the panic and havoc it caused still remains fresh in people’s memories. But with ICD 10 coding we may not be as lucky. It is highly unlikely that ICD 10 will be postponed once again. Or like what most medical practitioners, pray for nowadays, simply disappear.

ICD 10 Comes With An 84,000 $ Price Tag  !

Don’t gasp! That is the figure put down by the MGMA. For the small practice that is barely making ends meet, this is an astronomical amount. Consolidation is the only glimmer of hope. But it can prove to be a double edged sword. As physicians will lose their freedom to decide their working hours and make key clinical decisions, independently.

It seems to be a throwback to the 80’s when there was a mad scramble to partner, align and consolidate.

And The Price Is Not The Only Headache…

If the fear of hogging headlines is the major fear of big hospitals. To keep the lights on in the building is the biggest challenge of small and medium practices. A few of the challenges that ICD 10 throws in the face of medical practitioners are:

  • Loss of productivity.
  • A hit in the coders efficiency and working hours during the transition.
  • Expensive system upgrades.
  • Additional staff to handle the workload especially when both ICD 9 and ICD 10 are used to submit claims.
  • Higher chances of fraud and abuse charges due to the lack of training, knowledge and resources.

Here Is What Small Practices Can Do To Keep Their Head Above The Water !

  • Partner with a medical billing agency to handle the transition.
  • Make use of online resources to the fullest extent.
  • Start early and phase out the implementation to avoid drastic changes and expenses.

Is icd 10 proving to be too expensive for small practices from ango mark

Filed Under: 2013, 2014, ICD-10, Medical Coding Tagged With: ICD-10 Delay, ICD-10 for Small Practices, ICD-10 Medical Coding, ICD-10 price tags for Private physicians

Dont let 55,000 more Codes Faze you !

October 9, 2012 by MedicalBillingStar 1 Comment

Is 10.1.2014 a Date set in Stone ?

Much to the consternation of physicians, according to the department of health and human services, it most certainly is. After frequent postponements, much hullabaloo and divided opinions, a date has been finally announced to make the transition.

Though the granularity in codes can lead to more clarity and a more structured coding system, most codes physicians fume, are never going to be used.

An Expensive Change !

Change comes with its own baggage. Now healthcare providers will have to make major changes to the infrastructure and workflow of their practice, to accommodate the revised coding system. One of the biggest roadblocks is to train staff and set up a testing schedule, amidst busy workdays. The slew of recent changes in healthcare informatics and billing regulations is going to leave physicians with little time to catch their breath.

What Defines ICD 10 ready ?

This is a question that stares at the face of every healthcare provider today. Most find working with codes that are not going to be of any purpose or use till 2014 a drain of time and human resources. But, the time to start gearing up for the change is, now !

Small Steps can make Huge Strides.

Small steps can shorten the path to adapting to an entirely new coding system. One easy way for medical practices, to stay ahead of the curve is to have a database of ICD10 codes that they’re most likely to use. This will get the “55,000 more codes” scare out of the way.

Assess the Impact of ICD 10 .

Performing a realistic and comprehensive assessment of the impact that ICD10 is going to have on your practice is essential. Draw a bucket-list of the aspects of your workflow that are going to undergo major change during the transition, and start a testing plan on them. Educate staff members or if you work with a vendor request for a detailed plan of action to deal with the onslaught of codes.

Being quick and informed can beat those deadline blues, and make your practice truly ICD-10  ready ! Whether you are planning on creating a training program for your team or ask your ICD-10 medical coding services company to set up an implementation plan, do it today !

Filed Under: ICD-10 Tagged With: ICD-10 Medical Coding Company, ICD-10 Medical Coding Services, Medical Coding Company, Medical Coding Services, Medical Coding Services United States, Online Medical Coding Services company

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