eClinicalWorks® based Medical Billing Clients Successfully Tackle IDC-10 Transition

Professionals throughout the healthcare industry have been preparing (and dreading) the ICD-10 transition. As of October 1, it’s game on! How’s it going? Well, reviews were mixed in the feedback recently gathered by Healthcare Finance. However, one comment popped out at us. One user reported, “Well ICD-10, you scared me more than Y2K in 1999, but both were much ado about nothing! Thanks, eClinicalWorks® based Medical Billing Company. Together, we got this.” While the ICD-10 transition has been challenging, the clients of eClinicalWorks® based medical billing have the benefit of a partner to guide them through it. How is your office handling the transition? Here are a couple of tips to keep in mind as you navigate this transition period.

Prepare for an Interruption in Cash Flow

Physicians may experience a decrease in productivity, which could lead to a cash flow crisis. First, as productivity slows, physicians may not be able to see as many patients in a day, causing decreased revenue. Secondly, practices should expect possible denials or delays in payments. The Centers for Medicare and Medicaid Services (CMS) announced in July that it will be lenient regarding minor coding errors during the first 12 months of implementation. They will not deny claims due to a lack of specificity if the claim is at least coded in the right family. For example, if you put in the right code for an ear infection, but forgot to note if it was the left or right ear, CMS will cut you some slack. However, insurers may not be so forgiving. Many insurers have said they will follow the lead of CMS, but there’s no legal basis to force them to do so. Physicians should consider having a line of credit available to cover at least three to six months of practice expenses to prevent a cash flow emergency.

Consider Hiring Help

Hiring an additional coder or two, may help prevent the dip in productivity that many practices will experience. But this might increase your expenses as coders demand handsome compensation.

eClinicalWorks® based medical billing company can be a great solution. EMR Billing Solutions has the experience and expertise required to handle this transition, yet it is not expensive. So your budget will remain under control and you will be working with professional medical billers. EMR Billing Solutions is proud to be helping clients through the biggest changes healthcare has seen in decades.