The U.S. healthcare industry is preparing for the implementation of ICD 10 code sets on October 1, 2014.According to AMA there are many physicians who believe the implementation of ICD-10 is unnecessary. In this scenario, it is crucial for healthcare providers and their staff to know exactly why ICD 10 is being implemented and about the changes they can expect. http://www.outsourcestrategies.com/

2. ICD-10 is being implemented by October 1, 2014: Are You Ready?
The U.S. healthcare industry is preparing for the implementation of ICD 10 code sets
on October 1, 2014. The 10th revision of the International Classification of Diseases
(ICD) will replace the ICD 9 codes currently in use. However, according to the
American Medical Association (AMA) there are many physicians who believe the
implementation of ICD-10 is unnecessary. In this scenario, it is crucial for healthcare
providers and their staff to know exactly why ICD 10 is being implemented and
about the changes they can expect.
Reasons for the Switch to ICD-10
>ICD 9 is out of date: The primary reason for ICD transition is that ICD-9
has is outdated and does not reflect “new and changing medical
advancements”. ICD 9’s structure limits the number of new code sets to be
created. Certain codes added in recent years are in the wrong chapters
because the proper chapters were full, with nowhere to add new codes.
Medical science is advancing fast with new procedures and treatments, and
there new codes are necessary for diagnoses.
>Lack of specificity: ICD 9 lacks specificity and does not lend itself well to
updates. Accurate anatomical descriptions are not possible with ICD-9-CM
code. ICD-9 may identify an organ, but not the specific location such as, for
instance, the ovary, but not necessarily the left ovary, right ovary or bilateral
conditions of the ovaries. New codes will allow for a greater level of detail,
including etiology, manifestation, and laterality.
For example:
-ICD 9 CM code 813.81- Closed fracture of the radius
-ICD 10 code S52.131A – Displaced fracture of right radius, initial
encounter for closed fracture
>Accommodating new codes: ICD-9-CM has approximately 14,000
diagnosis codes with only 10 subcategories. The new ICD-10-CM has total
68,000 codes. Similarly, ICD-9-PCS have 3000 codes, while it is 87000 in
ICD-10-PCS. More room has been provided in ICD-10 for future expansion.
Benefits of ICD-10 Implementation:
ICD-10 implementation is expected to provide multiple benefits for healthcare
providers.
-Streamlined claim submissions
-Quality measurement
-Improved quality in clinical documentation
-Improved quality in healthcare
-Limited healthcare fraudulent activities
-Great accuracy with the fewer codes

3. Are You ICD 10 Ready?
It is crucial for medical providers to prepare for ICD10 well in advance. According to
AAPC (American Association of Professional Coders), “ICD-10 implementation will
radically change the way coding is currently done and will require a significant effort
to implement.” Healthcare providers and coders must be educated to implement this
major change fully.
The most important components involved with implementing ICD-10 in your
healthcare practice are to upgrade your software version HIPAA ASC X12 version
5010 and to provide your staff with the necessary training on ICD-10. The major
differences between the two systems will affect information technology and software
in your practice. Many reliable medical billing companies have updated their software
versions and are ready to handle ICD-10.
With all its advantages, ICD-10 is a complex set of codes. It may be even more
challenging to handle medical billing and coding in-house as ICD-10 involves a
much greater number of codes and more specificity. An ideal option would be to
outsource your billing tasks to an established medical billing company with AAPCcertified medical coders who are ICD-10 ready.