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Is Your Practice Or Office Getting Prepared For ICD 10?
A survey was conducted late April 2010 by AHIMA (American Health Information Management Association) regarding the status of organizations preparation for 5010 and ICD-10-CM.
The results of the survey were recently reported in the July 2010 Issue of the Journal of AHIMA. There were 800 respondents to the survey of which 90% were Health Information directors or supervisors. The deadline for 5010 is January 1, 2012 and the deadline for ICD-10 implementation is October 1, 2013.
The results reported included the following:
• 52% of the respondents stated their organizations had not started preparations
• 49% of those who had started did not know when they would begin.
• 56% of the hospital based respondents stated they had started preparations.
• 41% of clinics or physician offices responding had started preparations.
Physician offices will need to work with their Medical Billing Service Company during the preparation and implementation stages.
The following milestones for compliance with 5010 and ICD-10 have been recommended to be completed by the end of the current year 2010.
• Establish responsibility and structure organizationally for transition
• Develop impact awareness within the organization of ICD-10 code set
• Establish cost and prepare budget for changes required for information systems with the implementation of 5010 and ICD-10 CM/PCS.
• Establish the strategy for 5010 implementation internally in conjunction with appropriate vendors if applicable.
• Complete system modifications to facilitate the 5010 standard.
The clock is ticking and clinics and physician practices need to start preparations now along with their Medical Billing Service Company to be ready for the established deadlines.
About the Author:
PGM Medical Billing Services
At PGM, we believe physicians should focus on practicing medicine, not submitting claims and collecting payments. As insurance carriers and HIPAA requirements change, physicians are dedicating more and more of their time and resources to administrative tasks and red tape. By effectively managing this time-consuming work, PGM gives time back to physicians allowing them to do what they do best.
Our specialized medical billing service is focused on maximizing medical provider reimbursement. For the past 30 years, PGM’s medical billing service has been helping physicians not only get paid more, but get paid faster. Our complete practice management solution includes claim submission and follow-up, payment posting, advanced claim scrubbing to minimize denials, and much more.
PGM medical billing services will maximize your collections, reduce your time to payment and help you lower and better manage your expenses, all dramatically improving your bottom line.
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