1. JANUARY 2013
IN THIS ISSUE
1.1
EBOOK: 8 REVENUE
CYCLE CONCERNS FOR
ORTHOPEDIC PRACTICES
& HOW TO FIX THEM
1.2 eBook: 8 Revenue Cycle Concerns for
HOW ICD-10 WILL
AFFECT WORKER’S
Orthopedic Practices & How to Fix Them
COMPENSATION Orthopedic practices are in a time of constant change
with reimbursements, patient volumes and elective
2.3 surgeries all declining. These changes are forcing
ICD-10 physician practice owners to reevaluate processes and
IMPLEMENTATION tackle inefficiencies.
SCHEDULE & WHAT IT
MEANS FOR
ORTHOPEDIC PRACTICES There's a huge correlation between profitability and
how the revenue cycle is managed; the revenue cycle
of the practice is the bloodline.
2.4
MEDICAL BILLING – DO
YOUR Physicians should reevaluate their revenue cycles. This
COMMUNICATIONS eBook will assist you, as you begin your revenue cycle reevaluation.
ENCOURAGE PAYMENT?
Click here to download your Free eBook!
How ICD-10 Will Affect Workers’ Compensation
ICD-10 is not required for entities and
organizations that are not covered by
HIPAA, including worker's compensation
programs. However, not adopting ICD-10
and requiring a different billing method can
be expected to impose significant hardships,
so many worker's compensations are
voluntarily making the switch. For those that
are, ICD-10 offers a number of distinct
benefits for their program.
F I R T Y The additional complexity of ICD-10 codes
exists primarily for the reason of creating
(855) RING-HIS medical codes that are more specific and provide more information on what
happened, where it happened, what was done in response, and what the
350 S. Northwest Highway
diagnosis actually is. Under ICD-9, a submitted claim may not have
Suite 200 accurately affected the reality of an injury, resulting in payments that were
Park Ridge, IL 60068 either above or below what should have been paid as compensation. ICD-10
www.healthinfoservice.com makes a significant advance towards eliminating this problem, allowing more
accurate and useful information to be transmitted and processed.
Read more about ICD-10’s affect on Workers’ Compensation.
HEALTHCARE INFORMATION SERVICES, L.L.C www.healthinfoservice.com

2. ICD-10 Implementation Schedule & What It Means for Orthopedic
Practices
The implementation date for compliance with ICD-10 in the United
States is October 1, 2014. Unless the date is moved back, all practices
must be fully ready on this date, since there is no grace period allowed.
Orthopedic practices have a number of challenges, and being aware of
these will help understand what to do at each stage of the process.
ICD-10 both permits and requires a greater degree of information to be
coded. In ICD-9, many codes were more generalized and did not work
well for specific diagnoses, but this is set to be changed. This will require
many people in the office to learn to be more specific about what is said,
but will also mean that coders and physicians still working with ICD-9 will have to translate it into the
codes they've been using. It may be best to state both what's been said for ICD-9 and what will be said
for ICD-10 in order for the staff to understand the difference. Working to be more specific should occur
early in the implementation schedule.
Read more on ICD-10 Implementation Schedule here.
Medical Billing – Do Your Communications Encourage Payment?
As owners, managers and administrators in the medical field you
have to know your business in-and-out if you want to be successful,
and one area of particular importance is communicating with your
patients. This is true not only in regard to their medical conditions,
but also in explaining and collecting payments on their bills.
Medical billing communication is one very important aspect of
Revenue cycle management. The wording, style and timing used
may seriously affect how successful your collection attempts will be.
For more tips on making billing easier, click here.
Have Questions? We’re happy to help.
Healthcare Information Services (HIS)
(855) RING-HIS
350 S. Northwest Highway, Suite 200
Park Ridge, IL 60068
www.healthinfoservice.com
F I R T Y
HEALTHCARE INFORMATION SERVICES, L.L.C www.healthinfoservice.com