For audio recordings and written materials presented at all sessions of AHLA’s 2012 Institute on Medicare and Medicaid Payment Issues, visit the Association’s website.
ICD-10 - Is Your Healthcare Organization On Track?
Medical coding is undergoing a sea of change and it’s coming with a heavy price tag. The Centers for Medicare & Medicaid Services estimates ICD-10 conversion costs could top $1 billion. In real-world numbers, facilities with 400 or more beds can expect costs to range from $1.5 to $5 million. Those with 100 or fewer beds may spend from $100,000 to $250,000. Plus, denial rates could go up 100 to 200 percent during the first two years of ICD-10 implementation. Claim error rates are expected to range from six to ten percent, up substantially from the current average rate of three percent.
While the final date for implementation has been postponed, you should continue to work as if the original October 1, 2013, deadline is still in effect. Find out where you stand in the ICD-10 countdown by downloading PYA's ICD-10 Preparedness White Paper. Then call or email Denise Hall, Principal and PYA ICD-10 Consulting Team Leader at (800) 270-9629, or Nancy McConnell, Principal at PYA GatesMoore at (404) 266-9876, with your questions and to learn how PYA can help you stay on track.
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