Healthcare providers could experience financial and information losses when they make the mandated transition to the new International Classification of Diseases coding system in October, according to researchers at the University of Illinois-Chicago.
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.