June 25, 2014
Compared to ICD-9, the new coding system will have twice as many obstetrical codes, adding specificity to the characterization of obstetrical conditions. Even though the deadline for ICD-10 implementation has been shifted to 2015, a lot needs to be brought into order if OB GYN specialists don't want to lose revenue.
The transition will result in increasing work pressure for providers, including OB GYN practices. In order to stay on in business, they will have to follow an organized approach by establishing coordination with payers for testing existing as well as new systems.
Addition of new codes and system changes will affect billing services of OB GYN practices. Increased coding time and AR delays will have to be handled effectively else the new coding system may damage the cash flow of OB GYN specialists.
Getting your OB GYN Practice Ready for ICD-10 Complexities
Providers will need to spend money on buying the latest billing software
Forms will have to be revised
Coders will have to be trained for handling increased number of codes
Ample time will be required by OB GYN providers for documentation or it may lead to coding errors
Providers will have to spend money on new computer-assisted coding programs and required technologies for ICD-10 transition
Transition to ICD-10 can be stressful as well as expensive if practices are not prepared. To make the process smooth, providers can also start with an impact assessment and careful inventory of all changes in the office that will be required to roll-out ICD-10.
Considering the lack of time, money and well-trained resources, many OB GYN practices across the US have not been able to prepare for ICD-10 transition the way they should. Rising pressure of healthcare reforms, payment cuts and challenges related to running a practice are also affecting OB GYN billing, resulting in revenue loss. In order to ensure special attention towards assigning of codes and fulfillment of patient requirements, providers are seeking help for a billing partner.
Can Outsourcing End your Coding Woes?
Through outsourcing, OB GYN practices are ensuring billing and coding efficiency and buying more time to concentrate on quality patient care
Billing companies assign a well-trained team of coders to handle coding requirements for OB GYN practices. This team makes sure that coding for each service is done with accuracy
Latest technology and procedures are implemented for handling coding and billing tasks with precision
Such companies also offer consultation to practices on how they can prepare for the transition
Billing and coding tasks are handled even while providers are on a holiday which means they don't have to worry about missed payments
MedicalBillersandCoders.com is a reputed billing company with the largest syndication of certified billers and coders. MBC has been helping OB GYN practices across the US sail through coding challenges and prepare for ICD-10 transition.
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