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September 2011 - Vol 11, Issue 9 |
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** COMING SOON **
Free ICD-10 Whitepaper | |
Coker Group will be publishing a timely report on ICD-10 that will be available by free download very soon. Watch your inbox for more information! |
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Compliance Timeline Checklist | |
Click below for a printer-friendly compliance timeline checklist:
Also Available:
Source: CMS www.cms.gov/icd10 |
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The Technical Side of the ICD-10 Conversion: The Untold Story
By: Jeffery Daigrepont | |
ICD-10's impact will be farther reaching than just new coding guidelines and staff training. It will have a significant impact on virtually every aspect of technology in use by most medical practices and hospitals beyond system compliance. Specifically, the impact of ICD-10 on IT systems will be profound and expose what most vendors are not talking about concerning their compliance. To make a smooth transition, clear communication between the organization and vendor will be crucial. These conversations should focus on the RISK to revealing details that vendors may choose to conceal such as pricing, testing, and third-party add-ons.
Most vendors are promising ICD-10 compliance; however, it may not be that simple. Here are common things that vendors are NOT revealing...
Click here to read more! |
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** Help for the ICD-10 Transition ** | |
Coker recently launched a self-guided transition tool to facilitate an impact assessment on your organization's preparedness level for the ICD-10 transition. After assessing where you are, it will aid in the development of your transition work plan.
For a no-obligation demonstration of this self-guided ICD-10 transition tool, please contact Jeffery Daigrepont by email at jdaigrepont@cokergroup.com or by phone at
(770) 597-0590. |
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CMS ICD-10 FAQ's | |
1. What is the ICD-10 compliance date?
October 1, 2013.
2. Will the transition to ICD-10 be postponed?
No. The October 1, 2013 compliance date is firm. There are no plans to extend the deadline.
3. What does ICD-10 compliance mean?
ICD-10 compliance means that all Health Insurance Portability and Accountability Act (HIPAA) covered entities are able to successfully conduct health care transactions on or after October 1, 2013 using the ICD-10 diagnosis and procedure codes. ICD-9 diagnosis and procedure codes can no longer be used for health care services provided on or after this date.
4. Will ICD-10 replace Current Procedural Terminology (CPT) procedure coding?
No. This change does not affect CPT coding for outpatient procedures. ICD-10 procedure codes are for hospital
inpatient procedures only.
5. Who is affected by the transition to ICD-10? If I don't deal with Medicare claims, will I have to transition?
Everyone covered by the HIPAA must transition to ICD-10 on October 1, 2013, including providers and payers who do
not deal with Medicare claims.
For more questions and answers, please click here to access the full report. |
ICD-10CM: Are You on the Right Track?
By: Jeannie Cagle, RN, BSN, CPC | |
 While some of us are still living in denial (or hoping the Mayan calendar is right about the end of the world in 2012!), it is a fact that ICD-10 will go live on October 1, 2013. At this point, you should be well into the process of transitioning to the 5010 reporting format necessary to report ICD-10, as the January 2012 deadline is rapidly approaching. These changes require more than just using a different book to select new codes - they will require careful coordination with your business partners, claims clearinghouses, vendors and others to ensure proper compliance.
When faced with budget cuts, one thing that tends to see cuts is education as it seems relatively unimportant when compared to paying the light bill or meeting payroll. However, with the coming changes for ICD-10CM, education translates to money. If the coding is incorrect on the front end it will lead to denials and delay on the back end. Coker recommends providing education in two phases. First, provide general education beginning now to familiarize the staff with the general changes that are expected and how it will affect every aspect of the practice. Then, provide an in-depth ICD-10CM code set training which should be scheduled sometime in early-to-mid 2013. Begin to educate your employees now and remind them that the overall practice impact of ICD-10CM is significant.
Each employee should begin to formulate a plan to make the needed transitions in each of their areas. Examples of areas of impact are:
Click here to see how your might be impacted. |
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Coffee with Coker - a FREE monthly webinar | |
Join Us in October!
Date: Friday, October 7, 2011
Time: 11:30 a.m. EST
Solving the Equation for Physician Compensation Success
The success of a physician organization is dependent, to some extent, on the design of an appropriate physician pay structure and incentive model. Today, numerous variables must factor into the equation of designing a suitable compensation plan that supports an organization and its physicians' needs, but also attracts physicians for the future. In this session, you will receive timely information on the latest trends in physician compensation and model structures, as well as issues influencing compensation distribution, how this information translates to your hospital system or group practice, and what measures should be established to ensure future financial stability.
Knowledge Nuggets:
- Establish and objective methodology for calculating physician compensation
- Attract top physicians to a practice by providing compensation commensurate with area norms and competitive within the marketplace
- Establish financial incentives to promote physician productivity
- Maintain the financial viability of the organization with an appropriate compensation plan that meets the organization's and physicians' needs
- Invoke partnership attitudes (employment and contracted)
- Consider the effect of ancillary services (and reduced private practice reimbursement)
- Address changing themes in reimbursement structure in compensation plans, such as Accountable Care Organizations
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About Coker Group
Coker Group, a leader in healthcare consulting, helps physicians, hospitals, and other providers find answers and solve problems in management and business operations. Our consulting team members are proficient, trustworthy professionals with experience and strengths in various areas. Coker's staff includes seasoned individuals in finance, administration, management, operations, compliance, and information systems. Coker integrity is unquestionable.
The CokerConnection© 2011 is an electronic newsletter published monthly by Coker Group, copyedited by Kay Stanley and compiled for the internet by Trish Hutcherson. The articles and viewpoints presented in the CokerConnection© are for informational purposes only and not intended to constitute legal or financial advice. If legal, financial, or other professional advice is required, the services of a competent professional should be sought. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the publisher. |
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