Consider that with ICD-10:
Essentially EVERY healthcare provider will either:
- Upgrade or replace their billing management system
- or Retire
Based on studies in other countries that have also converted from ICD-9 to ICD-10 (Australia, Canada and many others);
Accept, expect and prepare for:
- Coders requiring 25% more time per claim.
- Disruption in reimbursements 2-5 years.
- The need for a line of credit from your bank.*
- The necessity to process ICD-9, ICD-10 and ICD-10-PCS codes concurrently & bidirectional.
- The need for additional staffing.
- The need to obtain info @ scheduling!
- Backlog of programming requests**
- Nothing to get done in 2015 !
*Do this before you have any cash flow problems.
** Do not rely on programming promises. All ICD-10 systems should be complete, fully functional and installed by 2013. Expect nothing to get done in 2015! Despite the extreme urgency, everyone is going to be so busy that an extreme backlog and shortage of healthcare programmers will severely limit project development and deployment in 2015.
All of these changes will be occurring under very stressful conditions. Essentially every hospital, clinic, surgery center, insurance company, CMS, state Medicaid, and healthcare provider will be affected.
Again, approximately 823,687 businesses and 2,572,989 providers will be affected on October 1, 2015. (NPPES.gov records 9/2011)
You should now understand why chaos is anticipated.
What to do?