CMH Billing

As I continue to read up on the ICD10 diagnosis code change coming there is one thing that has come up on more than one website, and therefore, I felt I should pass along. I'll have more details on the diagnosis code changes as the time approaches.

Articles repeatedly warn providers that payment of claims may be interrupted or delayed and that providers should plan for this by saving money in the bank in the months preceding the change.

When I read it once I thought it was an interesting take on the change. I thought perhaps it would be like the whole Y2K scare. You may remember the computer world was going to end, and then it did not.

But these articles suggest that even if only 1/4 to 1/3 of claims are delayed either because of provider error, provider program errors, clearinghouse errors or insurance companies not being ready, then providers are asked to imagine how much money would be delayed in their individual practice.

You take your monthly insurance payments and divide by 4. What if that amount failed to come in for October? What if it also failed to come in November?

See, that is scary. That is the scariest part of the whole process of the change. There are just so many pieces that have to get it right.

Some providers are working only with large insurance companies and so their income is a bit more protected. But if you have claims going to smaller companies, like EAP companies or third party administrators, then there may be a chance of a delay.

Here are some articles on the progress of the change as it pertains to your bank account.

http://www.cnbc.com/2015/04/07/could-icd-10-hurt-your-doctors-practice.html
http://www.healthcareitnews.com/icd10-2013/how-much-emergency-cash-should-providers-keep-icd-10

The death knell of the solo doctor practice? On Oct. 1, all U.S. medical and billing codes will migrate to a new global standard, but is the health-care system ready for the change?

Way to go John Duggan!! Getting the word out there.

Federal health records program leaves some medical professionals out of loop An effort is underway to be included in system meant to cut paperwork and increase efficiency.