Navicure, a medical claims clearinghouse for physician practices, recently announced that its systems are ready to begin testing the ICD-10 code set with clients, vendors, and payers. In addition, the company will continue to create and provide new educational resources, such as white papers, timelines, and webinars to support the industry through the transition process.
The ICD-10 code set, which will go into effect October 1, 2014, will have 54,000 more codes than the current ICD-9, and the codes will require more enhanced detail and specificity. Due to this increased specificity, transitioning to the new code set will affect all areas of physician practices, including workflow productivity and revenue cycle management. As a first step in preparing for ICD-10, physician practices need to evaluate current documentation processes so they can determine how to best update their processes and supporting technology, including clearinghouses.
“Just as with the 5010 transition, we have been focused on making sure Navicure is ahead of the curve on every aspect of ICD-10 preparations from technology to education,” says Jim Denny, founder, president, and CEO of Navicure. “This includes making sure our systems are ready, and continuing to provide clients with the exceptional customer service and educational resources they deserve and have come to expect. Our clients experienced minimal disruption during 5010, and we anticipate that being the case for ICD-10 as well.”
Navicure’s solution also remains compatible with both 4010 and 5010 transaction formats. The company’s denial management solutions, analytics tools, and educational resources also aide physician practices in their transition efforts. It is important for practices to have access to these tools and services because according to a February 2013 article on HFMA.org, the Centers for Medicare & Medicaid Services estimates that denial rates will increase by 100% to 200% during the early stages of implementation. Early preparation and communication with technology vendors, payers, and other business partners will be essential to transition success.
For more information about preparing for the ICD-10 transition, visit www.icd10hub.com or www.navicure.com.