Please do not leave this page until complete. This can take a few moments.
Today, Oct. 1, marks the official date of adoption of the tenth version of the International Classification of Diseases, or ICD-10. It’s an expanded set of medical codes for illnesses and procedures intended to bring more clarity and detail to electronic medical records (EMRs) – and to keep up with changes in technology and society.
Doctors, hospitals, clinics and nursing homes must use ICD-10 for any diagnosis or procedure performed as of today in order to get reimbursed.
The new system brings the number of diagnostic codes from 14,000 (or 17,000, depending on the news source) to 68,000; inpatient hospital procedure codes jump from 4,000 to 87,000.
ICD-10 is the latest iteration of a system developed and copyrighted by the World Health Organization. The predecessor, ICD-9, launched in 1979, is no longer adequate to document advances in medical treatments and technology.
The United States is one of the last industrialized nations to adopt ICD-10 and its implementation was delayed three times. The federal Centers for Medicare and Medicaid Services (CMS) and the American Medical Association teamed up to help the medical community get ready to use the system.
Providers have a grace period in which they can use ICD-9 to code all services delivered before today, but must use ICD-10 for services performed today or after, or they will not get paid.
As of today, CMS requires ICD-10 codes for all HIPAA transactions, including outpatient claims with dates of service, and inpatient claims with dates of discharge on and after today. Commercial insurers reportedly will work with both ICD-9 and ICD-10 codes until all claims for treatment delivered before today are processed.
The cost of conversion to ICD-10 has run to six figures for small medical practices, and news reports detail how some have taken out multi-million-dollar lines of credit in anticipation of reimbursement delays. For hospitals, conversion has run into the millions. However, it’s expected that over the long term, the U.S. healthcare system will reap the benefits of more specific documentation of health conditions, through more specific, result-oriented reimbursements. This would include increased reimbursements for patients in health plans that receive per-member, per-month fees for care, because payments are adjusted to reflect severity of patient illnesses.
Stay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Sign upWorcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
SubscribeWorcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
See Digital EditionStay connected! Every business day, WBJ Daily Report will be delivered to your inbox by noon. It provides a daily update of the area’s most important business news.
Worcester Business Journal provides the top coverage of news, trends, data, politics and personalities of the Central Mass business community. Get the news and information you need from the award-winning writers at WBJ. Don’t miss out - subscribe today.
Worcester Business Journal presents a special commemorative edition celebrating the 300th anniversary of the city of Worcester. This landmark publication covers the city and region’s rich history of growth and innovation.
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
In order to use this feature, we need some information from you. You can also login or register for a free account.
By clicking submit you are agreeing to our cookie usage and Privacy Policy
Already have an account? Login
Already have an account? Login
Want to create an account? Register
This website uses cookies to ensure you get the best experience on our website. Our privacy policy
To ensure the best experience on our website, articles cannot be read without allowing cookies. Please allow cookies to continue reading. Our privacy policy
0 Comments