The following is an excerpt from our recently published Survival Guide for the new ICD-10 standard:
"The official ICD-10 implementation deadline has been pushed back from Oct. 1, 2014 to Oct. 1, 2015, giving physicians an additional year for preparation. However, the countdown is on – which means that physicians now only have a little over 8 months left to successfully transition in speciality private practices.
As previously touched on, the inability to achieve full ICD-10 readiness by the current deadline will result in claim denials and major disruptions to the practice’s revenue cycle. Practice owners can’t afford to fall behind on overhead due to an under-developed ICD-10 administrative process. The sooner they begin their ICD-10 preparations, the less stress, administrative chaos, and cash flow delays they will have to deal with.
In order to make the ICD-10 transition as smooth and painless as possible for physicians and their office staff, PracticeForces will cover a few simple tips that shed some light on where to start and what to do for ICD-10 implementation in a specialty practice."