Have you started your countdown clocks yet? It looks like it's definitely happening this year on Oct. 1, 2014. The transitions from ICD-9 to ICD-10 coding will 100% absolutely take effect for the entire healthcare system, including therapy. So what is this big change all about? Per CMS, here are a couple of key facts everyone should be preparing for.
Healthcare providers should start preparing for the fall 2014 implementation of ICD-10 codes, Centers for Medicare & Medicaid Services experts advised during a webinar yesterday. ICD-10 codes will replace ICD-9 codes on Oct. 1, 2014. They apply to all Health Insurance Portability Accountability Act-compliant healthcare provider reports, including MDS 3.0.
Healthcare providers will have an extra year to become compliant with ICD-10 coding standards and will be issued standardized identification codes, according to a final rule issued by Department of Health and Human Services on Friday.
The Centers for Medicare & Medicaid Services is looking for comments from providers, vendors and other stakeholders about the collection burdens related to ICD-10 readiness.