Advanced Revenue Cycle Analytics: An Overview
As you prepare for the ICD-10 changeover on October 1, 2014, what will you do with your paper superbill?
Healthcare Technology Puzzle
Today, one superbill fits all the ICD-9 codes applicable to a given practice. How do you suppose all of the ICD-10 codes relevant to your practice are going to fit onto an 8.5 by 11” piece of paper? You can make the font smaller, increase the page size, or increase the page count, but none of these are feasible solutions because the last thing healthcare practices want to do is slow a physician down.
Practices nationwide are going to need a solution to fit all of the new ICD-10 codes onto the provider’s encounter “form”. With change comes a cost, and the total cost of preparing and upgrading to ICD-10 will be high. The Nachimson Advisors, LLC published A Report to the ICD-10 Coalition in 2008 stating that small (e.g., three-physician practices) may pay up to $83,290, medium practices around $285,195, and large practices (e.g., one hundred physicians) over $2.7 million. Given the aforementioned estimates, the estimated cost per physician to transition into the ICD-10 code set is approximately $27,000.
Real Estate Solutions
As you research methods of preparing for your practice’s ICD-10 transition, consider:
1. An electronic method of charge capture. Something that can be designed to look like your current paper superbill will provide an easy transition for your physicians.
2. Mobile charge capture. Doctors carry devices in their pockets that could be designated for yet another use: replace those folded note cards, stay organized, and ensure each charge will be sent in as you complete your rounding list.
Going electronic will be the only feasible option for practices that need access to far too many ICD-10 on their superbill.
“ICD-10 is going to be a big change for providers. Avoid layering change on top of change. By migrating to an electronic superbill in 2012, a healthcare practice can reduce the change a provider faces on October 1, 2014.”
— Matthew Menendez, VP of Sales and Marketing at White Plume Technologies
Want to learn how you can make the ICD-10 changeover can be a smooth transition? Contact us.