March ICD-10 Action Items
by Leigh-Ann Renz, 3.15.15
Meeting ICD-10 Compliance for Mental / Behavioral Health, Psychiatry and Substance Usage
March Item #1: Update Your Contracts
Check your contracts with all of your providers and confirm if they specify coding format. Many current contracts specify that coding needs to be in ICD-9, and this needs to be updated to reflect the ICD date changes. You’ll want to have your contracts updated to reflect that coding needs to be in ICD-9 for all dates of service through 9/30/15 – and needs to be in ICD-10 for all dates of service 10/1/15 and after.
If you have to contact your payers to request an updated contract, take an extra moment to talk to them about ICD-10: how prepared are they? When do they suggest you start testing? Are there any special provisions for mental / behavioral health or substance usage agencies? Do they offer any ICD-10 resources? Are they up-to-date with DSM-5?
Act on any guidance or help they might offer: while we provide a generic time line to help practices stay on track to meet the deadline, the bottom line comes from your payers. They will determine your revenue stream throughout this transition, and you should adhere to any timelines and guidance they provide.
Click here for more information about updating your contracts.
March Item #2: Start Saving
Meet with your bookkeeper or CPA: explain to them that reimbursements may be backlogged as part of the ICD-10 change, and that experts are advising practices to have a six month cushion in place! See if there are any areas where you can minimize expenses, increase revenue, or otherwise build up savings to cover this transition period.
If you’d like help minimizing denials and getting more claims actually paid, consider using a Revenue Cycle Management service to increase bill cycle efficiency and reimbursement flow. There are services specific to mental & behavioral health / psychiatry / substance usage agencies, and the return on investment can make a huge difference in your bottom line. Click here for some options.
Check out our ICD-10 Resource Center for more information.
(Disclaimer: Ultimately, it is the responsibility of each practice to ensure coding compliance. PIMSY EMR/SMIS has gathered information from various resources believed to be authorities in their field. However, neither PIMSY EMR/SMIS – nor its employees – nor the authors – warrant that the information is in every respect accurate and/or complete. PIMSY EMR/SMIS assumes no responsibility for use of the information provided. Neither PIMSY EMR/SMIS – nor its employees – nor the authors – shall be responsible for, and expressly disclaim liability for, damages of any kind arising out of the use of, reference to, or reliance on, the content of these educational materials. These materials are for informational purposes only. PIMSY EMR/SMIS does not provide medical, legal, financial or other professional advice and readers are encouraged to consult a professional advisor for such advice.)