December 2014

December 2014

Most of us decry holiday decorations appearing in stores the day after the Halloween candy clears the aisles.

Many DCs are feeling similarly about ICD-10 rearing its head before the end of 2014. It's too early, they tell each other. It's too much! And, hey, we already went through this hoopla and the deadline got postponed. Who's to say that won't happen again?

The odds of another postponement are almost nil. Chiropractic has long been out of step and is soon to be even farther behind if we don't hit this deadline this time around. So get ready to face the music!

Here's an end-of-the-year to-do list to so that you can hit the ground running in 2015 and nail that October 15 deadline just in time to buy next year's Halloween candy.

By the end of December, 2014:

  • Assign a team member to serve as your ICD-10 project manager
  • Register for ICD-10 industry updates from CMS
  • Create an electronic and/or paper file system to serve as a repository for all your ICD-10 training and transition materials
  • Make sure your software has been upgraded to Version 5010 for electronic transactions
  • Contact your practice management software vendor, electronic billing clearinghouse, EHR software vendor, and contracted third-party payers to verify their plans and timelines for ICD-10 transition
  • Begin to gather resource materials to familiarize yourself with ICD-10 and its effect on your practice
  • Establish a budget to fund software changes and upgrades, technical support, doctor and staff training, etc.
  • Start saving now to create a cushion of three to six months' of revenue to tide you over come October when reimbursements are likely to slow.

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