CMS to Add 5,500 New Codes to ICD-10 in October
How has your business managed the transition from ICD-9 to ICD-10 since the initial launch last October? Providers spent hours training staff on these new billing codes in hopes that their reimbursements would not suffer because of inaccurate documentation. Did all that training pay off?
A recent report from RelayHealth Financial indicates that while only 1.6% of ICD-10 claims have been denied since October 2015, this equates to approximately $12.9 billion denied to providers.1 Because claim denials haven’t spiked as was feared at the time of ICD-10 implementation in October 2015, you could assume that ICD-10 hasn’t hurt providers. However, according to RelayHealth Financial’s Marcy Tatsch, vice president and general manager of reimbursement solutions, one in five claims are still being denied or delayed. She said this translates to as much as a 3 percent drop in revenue.1
Breeze through ICD-10 with Mediware!
Additional news is that CMS is now planning to add 5,500 new codes to the ICD-10 library. About 1,900 will be diagnosis codes, and 3,651 will be hospital inpatient procedure codes.2 According to CMS, these changes will update the cardiovascular and lower joint body systems and will include codes for face transplants, hand transplant, and donor organ perfusion.2 Apparently, all of these codes are backlog changes that were on hold since the October 2015 implementation.
Is your business prepared for additional code changes? If you are a current Mediware customer, your system will be updated for these new coding changes. Stay proactive, continue employee training, and work with your software system, so these updates are not a burden.