5 Critical Icd-10 Conversion Pitfalls And How To Avoid Them

By Author: jvionhealth health
Total Articles: 11
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As healthcare providers migrate to the new system, they will inevitably find that they have to deal with new and sometimes unexpected challenges. Some of the most important ICD-10 codes implementation risks that need to be addressed include cash flow disruptions, proper tracking of claims, software updates and choosing the right staff to manage the migration. Like most changes in the organization the most important thing is to anticipate and act proactively to solve these problems. The following are the risks and possible workarounds that will mitigate the problems.

Cash Flow Disruptions

The first thing you need to prepare for is cash flow disruptions. The migration will come with a new pattern of claims and rejections which will cause disruptions for the providers. To avoid this pitfall, providers should estimate changes before and after the migration.
According to experts, these changes may take up to two years after the migration and providers should use this as their ICD 10 revenue cycle. Create a financial model using possible scenarios so that you can make a more accurate estimation of the costs of ...
... migration. Anticipating these changes will put the health care provider in a position where they can assess and improve their business operations ahead of the migration.

Another important issue that must be looked at critically is delayed payments and claims. It is mainly these claims that will cause the cash flow disruptions mentioned above. The best way to solve this problem is to meet the provider and discuss possibilities of renegotiating the terms. Also, make a point of having these discussions with stakeholders so that there is clarity on what is expected once the ICD-10 conversion is complete.

Another important step you need to make is to ensure proper and quality software updates are done. This is an important step because it could affect the provider’s ability to file claims and that will in turn have an impact on cash flow. The best way to avoid this is to evaluate software solution providers by providing them with a small sample of the conversion that needs to be done. Assess their ability to do this properly, efficiently and on a reasonable budget.
Staffing is an important area that could be overlooked when doing the ICD-10 codes conversion. As you go through the migration it is advisable to choose a team with project management skills to ensure all problems are anticipated and suitable solutions are devised to deal with it.

Resource Link: http://migration.ezinemark.com/5-critical-icd-10-conversion-pitfalls-and-how-to-avoid-them-7d3841f62e53.html