If you are getting a late start on ICD-10 preparation, don’t worry; there are still cost-effective and viable solutions that can help you meet the October 1 deadline – outsourcing and technology.
The transition to ICD-10 will have a tremendous impact on your organization and its revenue stream. If you are getting a late start on ICD-10, you may want to consider using an outside partner, who has been diligently preparing for the ICD-10 transition for several years. An outsourcing partner can provide immediate expertise to ensure your revenue risk is minimized.
Working with a knowledgeable outsource partner can also reduce your costs and overhead complexity. Expertise is available and there is no need to face the transition alone. Select your outsourcing partner on the basis of their coding and billing experience and knowledge. All of their coders have undergone a stringent screening process to verify their skill level, education, experience, and level of professionalism. Most are certified RHIT, RHIA, CCS, CCS-P, CPC or CPC-H.
In addition to supporting your increased workload brought on by the transition, they can help you with your denial management, an activity that will be crucial during this critical period. The partner you select should also have a proven and demonstrable record for helping other organizations similar to yours.
An outsourcing partner can also provide targeted training programs to help you retain your most experienced medical coders - those who will be the most valuable during the ICD-10 transition. Your organization’s support, through viable training programs, can be the key to retaining your most experienced staff members’ and help with the transition. They, in turn, can mentor your less-experienced staff during this challenging period.
Finally, technology has dramatically changed the medical coding process within health information management. Computer-assisted coding or CAC is a cutting edge technology that automatically derives medical codes within clinical documentation.
Healthcare organizations are now able to streamline revenue cycling processes due to CAC while becoming increasingly more compliant with the requirements of payer and quality reporting. CAC does not eliminate the need for professional medical coders; it simply assists them and makes them more productive. The coders may not be doing as much coding as was done in the past, but they are needed to review productivity and accuracy.
Following are just some of the benefits CAC provides:
• Improved Accuracy
• Improved Compliance
• Improved Consistency
• Improved Productivity
• Improved Traceability