3 Things You Need to Know About ICD-10

The implementation date for ICD-10, the new set of medical billing codes set to take effect on October 1, 2015, is quickly approaching. And while learning the entire set of new codes is not necessary, there are a few key points that health care service providers and practices should keep in mind in order to ensure readiness to meet the implementation deadline when it arrives.

How Will ICD-10 Affect Your Practice?

ICD-10 Codes Will Become Obsolete

With questions about whether an extension or grace period will affect the implementation deadline, it is important for health care providers and medical practices to keep in mind that as of October 1st, the old ICD-10 codes will no longer be considered valid, and the ICD-10 codes must be used for all new claims starting on October 1st.

Private and Commercial Insurance Carriers May Have Their Own Deadlines and Regulations

Commercial insurance providers like Aetna, United Healthcare, Cigna, Healthnet, Kaiser Permanente, etc may not be required to provide a grace period for coding, like Medicare and Medicaid, therefore it is important for practices and healthcare service providers to know the guidelines and coding requirements for each commercial insurance carrier as well.

Additional Diagnostic Testing Will Not Be Necessary Under ICD-10

In instances where a definitive diagnosis and corresponding medical documentation is not available, clinicians will be able to use symptom-based or non-specific codes under ICD-10. Ordering unnecessary diagnostic tests and procedures to obtain more specificity for the purposes of medical coding under ICD-10 is discouraged.

Contact a medical billing and practice management expert today!

To learn more about how ML Medical Billing can help your practice transition effectively from ICD-10 to ICD-10, as well as increase your practice’s overall profitability, call (888) 719-7602 today to schedule a consultation. Prospective clients can also try our free online profit calculator!

Next, read more about 5 Reasons to Outsource Your Medical Practice’s Billing Department.