ICD 10 stands for International Classification of Diseases (10th version). This is the code used to properly portray the specific injury sustained or the illness/death a patient encounters. It translates a patient's health condition from words into an alphanumeric code. ICD was established and put into action back in early 1940, and most recently updates to ICD 10 in October of 2014. Codes are often updated with further clinical modifications, which expand on the illnesses, injuries, and cause of death. These modifications are aimed at providing more detailed information for the insurance company to observe.
Accuracy is pivotal when it comes down to ICD 10 codes. There are 21 chapters of ICD-10 and coding specificity is directly correlated to the amount healthcare facilities are able to recuperate. Thus, by staying detail-oriented and committed to accuracy, we aim to help each health care provider achieve the maximum reimbursement possible. We also set out to minimize turnaround times, from the time we receive billing paperwork to the time payouts are received. By doing this, we prioritize the time of our clients and increase operational efficiency.
ICD allows easy storage, retrieval, and standardization of data as well for analysis and KPIs. ICD is the only national mandated standard in the USA to define a patients health state. ICD allows for health records to be accessible throughout the United States for past history and continuation of care. HIPAA requires providers, payers, and clearinghouses alike to all comply with ICD guidelines for all healthcare transactions submitted electronically. By failing to follow these guidelines you subject your business to denials, appeals, and slowed processing.
ICD-10 provides for greater detail, severity, proximity, and extenuating complications than its ICD-9 counterpart. This includes improved granularity of codes and greater detail of anatomy and pathophysiology. The code expansion changes the description of similar conditions. For example in ICD-9 there are 19 codes available to describe all the variations of a fracture at a specific point in the body, in ICD-10 there are over 1620 codes that describe variations of the same injury. ICD-10 also allows documentation of external factors that may contribute to diagnosis on health related records. ICD code expands beyond the boundaries of language and allows for internationally accepted codes that correspond to a specific condition no matter what native language the diagnosis was first recorded in.
Accuracy is pivotal when it comes down to ICD 10 codes. There are 21 chapters of ICD-10 and coding specificity is directly correlated to the amount healthcare facilities are able to recuperate. Thus, by staying detail-oriented and committed to accuracy, we aim to help each health care provider achieve the maximum reimbursement possible. We also set out to minimize turnaround times, from the time we receive billing paperwork to the time payouts are received. By doing this, we prioritize the time of our clients and increase operational efficiency.
ICD allows easy storage, retrieval, and standardization of data as well for analysis and KPIs. ICD is the only national mandated standard in the USA to define a patients health state. ICD allows for health records to be accessible throughout the United States for past history and continuation of care. HIPAA requires providers, payers, and clearinghouses alike to all comply with ICD guidelines for all healthcare transactions submitted electronically. By failing to follow these guidelines you subject your business to denials, appeals, and slowed processing.
ICD-10 provides for greater detail, severity, proximity, and extenuating complications than its ICD-9 counterpart. This includes improved granularity of codes and greater detail of anatomy and pathophysiology. The code expansion changes the description of similar conditions. For example in ICD-9 there are 19 codes available to describe all the variations of a fracture at a specific point in the body, in ICD-10 there are over 1620 codes that describe variations of the same injury. ICD-10 also allows documentation of external factors that may contribute to diagnosis on health related records. ICD code expands beyond the boundaries of language and allows for internationally accepted codes that correspond to a specific condition no matter what native language the diagnosis was first recorded in.
The purpose of ICD is to:
Promote international comparability of collection, classification, processing, and presentation of health statistics.
Its imperative to have detailed documentation to meet the requirements of ICD-10. If you do not already have measures in place to do so it would be advisable to implement measures to strengthen medical records. This can be achieved various ways such as using medical scribes and/or transcriptionist, updating current medical record software, and putting in place efficient chart review processes to ensure accuracy. By adhering to ICD-10 guidelines you will be in a much better position to serve your patients and simplify the revenue cycle.
Outsourcing coding services can make a significant difference to your organization’s profitability. While you can expect to see a higher reimbursement fairly quickly by accurate coding free from coding and documentation errors, savings can also be realized through reductions in payroll taxes, insurance, and benefits. These are additional costs that should be factored in when deciding whether to outsource coding (and billing services) or whether to keep these services in-house.
We have years of interaction with insurance companies and customers/patients alike. We can ensure that both institutions are queued up in a follow up campaign to ensure expedited outcomes.
Promote international comparability of collection, classification, processing, and presentation of health statistics.
Its imperative to have detailed documentation to meet the requirements of ICD-10. If you do not already have measures in place to do so it would be advisable to implement measures to strengthen medical records. This can be achieved various ways such as using medical scribes and/or transcriptionist, updating current medical record software, and putting in place efficient chart review processes to ensure accuracy. By adhering to ICD-10 guidelines you will be in a much better position to serve your patients and simplify the revenue cycle.
Outsourcing coding services can make a significant difference to your organization’s profitability. While you can expect to see a higher reimbursement fairly quickly by accurate coding free from coding and documentation errors, savings can also be realized through reductions in payroll taxes, insurance, and benefits. These are additional costs that should be factored in when deciding whether to outsource coding (and billing services) or whether to keep these services in-house.
We have years of interaction with insurance companies and customers/patients alike. We can ensure that both institutions are queued up in a follow up campaign to ensure expedited outcomes.