Embed Size (px)
DESCRIPTION
Revenue Cycle Management for ICD-10. Rich Flaherty VP of Sales MDeverywhere. Agenda. Why ICD-10 Practice implications Partner for success Asking the right questions Key takeaways. WhY ICD-10?. Senate Passes One-Year SGR Patch, ICD-10 Delay Bill. ICD-10 Delay: Politics Versus Policy. - PowerPoint PPT Presentation
Citation preview
1
Rich FlahertyVP of SalesMDeverywhere
Revenue Cycle Management for ICD-10
2
Agenda
• Why ICD-10
• Practice implications
• Partner for success
• Asking the right questions
• Key takeaways
33
WHY ICD-10?
44
55
Pros and Cons of ICD-10 Delay
ICD-10 Delay Creates Headaches
Senate Passes One-Year SGR Patch, ICD-10 Delay Bill
ICD-10 Delay: Politics Versus Policy
66
77
Much Has Changed Since 1979
88
9
ICD-10 Is Necessary
• Greater specificity, improved tracking
• Longer codes, larger code set
• Improved monitoring of global health trends
ICD-9 ICD-10
Pressure Ulcers 9 codes 150 codes
Angioplasty 1 code 854 code
1010
IMPLICATIONS FOR YOUR PRACTICE
11
Implications
• All aspects of patient encounter will change
• Disruption in operations and payment streams
• Loss of productivity
• Software breaks
• Staff turnover
1212
Sobering Facts
5xHFMA prediction on increase in denials.
$50-200KEstimated spend on
transitions costs.
80%Practices will need
to upgrade software.
6 MonthsRecommended
amount of cash flow in-house.
1313
SURVIVING THE TRANSITION
14
Minimizing Impact
• Don’t underestimate the degree of change
• Invest in training
• Assess documentation procedures
• Engage staff early
15
Consider an RCM Partner
• Choose and RCM partner invested in ICD-10
• Leverage resources and capabilities
• Leverage operational scale, technical expertise
1616
FINDING THE RIGHT PARTNER
17
When Will Your System be Compliant?
1/3 ICD-10 Ready Now 2/3
Not Ready
27%Would not have been ready by Oct. 1, 2014
deadline.
18
Are There Additional Costs?
19
Customer Support & Training
20
GEMs & Crosswalk
• Supplement with extended search capabilities
• Natural language parsing
• Code set selection based on payor readiness25%ICD-9 codes
have an exact match to ICD-10
21
Dual Coding
• Support simultaneous use of codes for training
• Benchmark productivity for live implementation
• Testing with outside organizations
22
External Testing Strategy
National Testing Week March 3-7, 2014
Claims tested successfully with 100% accuracy and
without rejections.
23
Key Takeaways
• ICD-10 is inevitable and necessary
• Keep the pedal to the metal
• Don’t stop your ICD-10 preparations
• Partner for success
• Ask the right questions
24
About MDeverywhere
• Leader in Revenue Cycle Management
• MicroMD Strategic Partner
• Serving 7,000 physicians, 40+ specialties
• MDe clients increase collections 10-15%
• Decrease denials by 95%
• NCQA CVO certified
