The International Classification of Diseases, Tenth Edition, or ICD-10 is a coding system that went into effect in the U.S. healthcare industry on Oct. 1, 2015. It is used to standardize codes for medical conditions and procedures. The ICD-10 codes have enabled more accurate medical billing by offering many more classification options compared to those found in its predecessor ICD-9. For thousands of physicians and other clinicians in the United States, the change from ICD-9 to ICD-10 was a major concern demanding time, preparation, and a lengthy period of adjustment. Intelli-Med has proven to be an ideal ICD-10 compliance partner and remained fully committed in meeting all applicable time frames for ICD-10 compliance prior to October 2015. We have worked closely with our clients to ensure their smooth transition to ICD-10. To find out more about ICD-10 and its latest updates, please visit the CMS site.
IMPACT ACROSS HEALTHCARE INDUSTRY
The transition  of ICD-10 affects all those who use the healthcare information that involves a diagnosis and/orinpatient procedure code, including
BENEFITS OF ICD-10
In 1992, the World Health Organization (WHO) first introduced the ICD-10 code set, and it has become the diagnostic coding standard in developed countries outside the US. A few of the primary benefits of these coding standards are listed below:
- An increased ability to track diseases, through better specificity and detail.
- Accurate reﬂections of current technology and medical treatment.
- An increase in diagnosis codes makes it easier for physicians and coders to choose the right code; enhance coding accuracy and specificity to classify anatomic site, etiology, and severity.
- Provide payers and program integrity contractors with opportunities for more effective detection and investigation of potential fraud or abuse.
- Improvement in clinical, financial, and administrative performance.
DIAGNOSIS CODE COMPARISON
Diagnosis Code Comparison includes
CHALLENGES FOR PROVIDERS
- Identifying the correct ICD-10 code.
- Educating yourself on new coding standards and diagnosis recommendation.
- Creating the documentation according to diagnosis.
- Identifying the key metrics of your practice: turnaround time & monthly cash-ﬂow.
- Training your medical staff and coders.
- Documenting and scanning of 8 to 10 pages super bill.
- Increase in turnaround time.
- Decrease in monthly cash ﬂow.
- Time and effort of documentation.
- Disruption of clinical workﬂow.
- Possible diversion from patient care.