ICD-10 Myths (Part 5)
by Leigh-Ann Renz, 3/11/14 (updated & revised 6.19.15)
ICD-10 Myth # 5:
"I don't need to worry about ICD-10 because I only see self-pay clients"
Even if your practice is entirely self-pay (and you don't provide receipts to your clients to seek reimbursement on their own), you should still plan on transitioning to ICD-10 - here's why:
> Clients often submit their receipt for out-of-network reimbursement and you may not be aware of it.
> By not making this shift when the rest of the entire industry is, you may be questioned on not having an updated/ethical/current standard-of-practice program.
> It's a liability risk to you if there is any future legal action involving your and/or your client. ("Why aren't you practicing according to current standards?")
> Within the next few years, the US will be required to follow the rest of the world to ICD-11. Compared to the current change to ICD-10, it's been promised that the switch to ICD-11 will be much easier. By making the more difficult transition to ICD-10 now, you minimize the workload and confusion of the next coding change-over, which will be significantly easier for those who have already made the ICD-10 leap.
> If your practice changes and you do accept payers in the future, you'll have clear client charts and documentation ready for reimbursement. Making the ICD-10 transition now will also minimize the difficulty of getting up to speed down the road.
ICD-10 Myth # 1: "I've heard that the government's going to extend the ICD-10 deadline."
ICD-10 Myth # 2: "ICD-10 doesn't affect me because we use DSM-5"
ICD-10 Myth # 3: "I don't need to worry about ICD-10 because my EHR is taking care of it."
ICD-10 Myth # 4: "ICD-10 doesn't apply to me because I work in mental health."
ICD-10 Myth #6: "As a provider, I don’t need to worry about ICD-10 – our billing person's going to take care of it”
ICD-10 Myth #7: "Workman's compensation is going to stay on ICD-9"