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Published byBritton Randall Modified over 9 years ago
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1 Rich Flaherty VP of Sales MDeverywhere Revenue Cycle Management for ICD-10
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2 Agenda Why ICD-10 Practice implications Partner for success Asking the right questions Key takeaways
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33 WHY ICD-10?
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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
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77 Much Has Changed Since 1979
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9 ICD-10 Is Necessary Greater specificity, improved tracking Longer codes, larger code set Improved monitoring of global health trends ICD-9ICD-10 Pressure Ulcers9 codes150 codes Angioplasty1 code854 code
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10 IMPLICATIONS FOR YOUR PRACTICE
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11 Implications All aspects of patient encounter will change Disruption in operations and payment streams Loss of productivity Software breaks Staff turnover
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12 Sobering Facts 5x HFMA prediction on increase in denials. $50-200K Estimated spend on transitions costs. 80% Practices will need to upgrade software. 6 Months Recommended amount of cash flow in-house.
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13 SURVIVING THE TRANSITION
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14 Minimizing Impact Don’t underestimate the degree of change Invest in training Assess documentation procedures Engage staff early
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15 Consider an RCM Partner Choose and RCM partner invested in ICD-10 Leverage resources and capabilities Leverage operational scale, technical expertise
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16 FINDING THE RIGHT PARTNER
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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.
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18 Are There Additional Costs?
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19 Customer Support & Training
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20 GEMs & Crosswalk Supplement with extended search capabilities Natural language parsing Code set selection based on payor readiness 25% ICD-9 codes have an exact match to ICD-10
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21 Dual Coding Support simultaneous use of codes for training Benchmark productivity for live implementation Testing with outside organizations
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22 External Testing Strategy National Testing Week March 3-7, 2014 Claims tested successfully with 100% accuracy and without rejections.
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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
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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
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25 Thank You www.mdeverywhere.com questions@mdeverywhere.com 631.232.4260, option 4
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