Inform Diagnostics announced today that they will offer a series of complimentary
webinars to educate healthcare providers on the effects that the new ICD10
coding changes will have on physician practices, and help healthcare providers
prepare to transition to the new coding structure.
To view the webinar on our site,
“Organizations need to prepare for the changes if they are to succeed,
or prepare to fail if their efforts fall short of expectations,”
said Dan Kelly, Director of Client Connectivity at Inform Diagnostics.
“ICD-10 will have a deep impact on revenue, as well as clinical
efficiencies, and will require substantial effort on the part of the provider.
Inform Diagnostics is dedicated to helping healthcare providers meet
ICD-10 will apply to all providers, and compliance with the new code regulations
will be required by October 1, 2014. According to the Centers for Disease
Control and Prevention, the Tenth Revision (ICD-10) differs from the Ninth
Revision (ICD-9) in several ways, although the overall content is similar:
First, ICD-10 is printed in a three-volume set compared with ICD-9’s
two-volume set. Second, ICD-10 has alphanumeric categories rather than
numeric categories. Third, some chapters have been rearranged, some titles
have changed, and conditions have been regrouped. Fourth, ICD-10 has almost
twice as many categories as ICD-9. Fifth, some fairly minor changes have
been made in the coding rules for mortality.
The impact of this shift is substantial. Not only does the new code set
include five times as many codes as the ICD-9 code set, the different
arrangement of codes will require more documentation, revised forms, re-training
of staff and physicians, and changes to software and other information
technology. Changes in reimbursement patterns may also result from the
increased specificity of the new code set.
Implications could include:
• Revenue Shortfalls: Improperly coded diagnoses and procedures will
not be reimbursed. The bottom line is that claims will get rejected and
revenue will be negatively impacted.
• Cash Flow Restrictions: The accounts receivable cycle will increase
due to the delays in reimbursement.
• Operational Inefficiency: If staff is not properly trained in the
new code sets ahead of time, productivity will decline as they struggle
to make the transition in real time.
“As a leading pathology service provider, we’ve always had
a focus on technology” noted Kelly. “We’ve worked with
numerous EHR systems, and we have a strong history of providing workflow
efficiencies and solutions to our clients. By combining our extensive
experience and expertise, we’ve created a technology services solution
that assists healthcare professionals in advancing workflow efficiency.”
About Inform Diagnostics
Serving more than 5,500 patients each day, Inform Diagnostics is a leader
in providing an academic-caliber pathology laboratory with diagnostic
services in the fields of dermatology, gastroenterology, hematology and
urology. Building upon our experience with health IT, we also offer accessible
technology solutions to assist healthcare professionals as they work towards
accordance with Meaningful Use initiatives.
Inform Diagnostics, a wholly-owned subsidiary of Japan-based Inform Diagnostics Holdings
Inc., employs a talented team of leading pathologists, histologists, lab
technicians, technology consultants, and other medical professionals —
all driven to help provide the highest and most up-to-date levels of diagnostic
quality, enhanced workflow and practice solutions possible. It is part
of our commitment: not only to scientific excellence, but to patients