ICD-10 will replace ICD-9 in 2013. To use the new coding system in electronic transactions, you must convert to HIPAA Version 5010 software standards – or you won't get paid. But that's not the only reason to upgrade to Version 5010.
Embracing the standard by fully integrating it into your work systems and work flow – rather than merely complying with it – will put your practice on the right track. Here's why:
- Version 5010 corrects many of the flaws of the current 4010 version. Since Version 4010's launch in 2003, software developers have tweaked and patched it to its limits. Version 5010 incorporates hundreds of changes asked for by the medical industry.
- You can begin to realize the administrative simplification and subsequent savings that HIPAA promised. For example, authorizations will be streamlined, saving time and hassles on the phone for you and your staff.
- Version 5010 is a vital component for true standardization and interoperability, smoothing the way for widespread use of electronic health records.
- It will facilitate reporting of clinical data for quality performance measures, which are poised to become a driving factor for payment of claims and performance bonuses.
By now, you should be talking to your vendors and taking other steps to prepare for the conversion to Version 5010 (the deadline is Jan. 1, 2012) and to ICD-10.
TMA can help you ease the way to ICD-10 adoptionwith boot camps and webinars that examine all angles of the task ahead. Register now. Also, go to the TMA coding page to find more information, including links to free webinars that Blue Cross and Blue Shield of Texas held in April.
Action, May 2, 2011