Oct. 1, 2014 will be here before you know it. Does it seem as though your practice’s ICD-10-CM clock is getting louder by the month? What can you do to reduce the noise?
If the clock is thrown out the window, would that work? Not in your dreams!
What can you do now to prepare for ICD-10 implementation so late in the game? Start with a simple reality check. Why? Our industry has predicted that approximately 50-66 percent of providers will not be ready. A/R days are expected to increase by 20-40 percent, productivity by coders is expected to decrease initially by 30-65 percent (and never to return to a pre-ICD-10 rate), and denial rates are anticipated to experience a 100-200 percent increase (with delayed payments, decreased cash flow and lost revenues).