Your diagnostic radiology medical revenue cycle management faces several ICD-10 preparedness challenges prior to the implementation deadline. Software upgrades, training classes, and anticipated loss of productivity, to name a few. But the biggest challenge may just be keeping the lights on in the months after the “go live.”
Without the right radiology coding, billing and collections team in place, there’s the chance for declining revenues and the very real possibility your healthcare revenue cycle management will take a hit. Denial rates potentially could increase between 100 and 200 percent, AR days increase by 20 to 40 percent, prolonged declining payments and a near doubling of claim error rates.
You can turn your ICD-10 transition risks into radiology billing growth opportunities. Did you know payers may start using the conversion to ICD-10 as another way to optimize your practice reimbursements?
The time is now to prepare and ensure a smooth ICD-10 transition for your medical practice billing, continuity of claims processing and increased/uninterrupted cash flow. And if you thought attention to detail was important in ICD-9, there’s a whole new level of specificity to think about now in ICD-10.
With 68,000 diagnosis code and 87,000 procedure codes, an exacting level of specificity in your documentation is critical to pinpointing the right code in your physician medical billing. One incorrect character and your entire claim will be rejected. That’s why coding expertise makes all the difference. Coders with the right training are able to deftly translate clinical information from the operative report into the ICD-10 system. The best trained ones know how to correctly document co-morbidities, manifestations, etiology/causation and complications with painstaking accuracy.
To keep your practice secure and profitable, it takes contracting with a third party, independent medical coding and billing with special expertise in ICD-10 implementation and compliance. They understand the ICD-10 guidelines, GEMs, all the nuances of the training process and why knowledge of anatomy is so important. revMD.com offers technology integration with a knowledgeable and passionate radiology coding staff to give you peace of mind as we build you a lasting and profitable practice – yes, even through the ICD-10 transition.
revMD.com is the results-proven alternative for physician medical billing, with a niche specialization in diagnostic radiology coding and billing, ICD-10 and PQRS preparation that generates unprecedented results and builds profitable medical practices. Leveraging a history of industry wide success spanning 26 years, revMD.com partners with medical practices throughout the U.S. to optimize revenue for hospital based and community based physicians. For more information, visit www.revmd.com.