The transition to ICD-10 will initially lead to a decrease in cash flow for healthcare organizations. Officials recommend that organizations be prepared and budget for as much as 40 percent more in outstanding payments. If you are prepared the chances of minimizing the impact is greater. The key is to gain the information you need to make income projections by having a clear picture of how you clinical activities related to ICD-10 codes. Accurate financial decisions need to be made in areas such as contracting, proposed ICD-10 reimbursements, Accountable Care Organization propositions and its rewards and risks, and more.
One of the important questions to answer is whether your current documentation is enough to gain ICD 10 Revenue Neutrality coding. Another factor is whether the diagnosis related group or DRG assignment of your visits will change under ICD-10.
Is Your Documentation Sufficient?
Payers are alleged to focus their efforts on ensuring ICD 10 Revenue Neutrality where every service provided before and after the deadline for ICD-10 conversion will offer the same reimbursement. However, it is essential to have the right documentation to be ICD10 Revenue Neutral. Providers ought to evaluate charts from their top outpatient diagnosis codes and diagnoses related groups. This must not only focus on coding but areas where documentation can impact the final diagnosis. Jvion RevCore makes ICD 10 Revenue Neutrality much easier to achieve.
The solution is designed to identify critical risk areas and develop a plan to mitigate those risk areas. A prominent Southeastern hospital used RevCore’s historical claims analysis to provide insights into the ICD-10 planning, training, mapping and conversion, and documentation activities that delivered most value for their organization.
One of the important questions to answer is whether your current documentation is enough to gain ICD 10 Revenue Neutrality coding. Another factor is whether the diagnosis related group or DRG assignment of your visits will change under ICD-10.
Is Your Documentation Sufficient?
Payers are alleged to focus their efforts on ensuring ICD 10 Revenue Neutrality where every service provided before and after the deadline for ICD-10 conversion will offer the same reimbursement. However, it is essential to have the right documentation to be ICD10 Revenue Neutral. Providers ought to evaluate charts from their top outpatient diagnosis codes and diagnoses related groups. This must not only focus on coding but areas where documentation can impact the final diagnosis. Jvion RevCore makes ICD 10 Revenue Neutrality much easier to achieve.
The solution is designed to identify critical risk areas and develop a plan to mitigate those risk areas. A prominent Southeastern hospital used RevCore’s historical claims analysis to provide insights into the ICD-10 planning, training, mapping and conversion, and documentation activities that delivered most value for their organization.
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