How will ICD-10 impact my practice?
ICD-10 is expected to create a challenge for medical providers, namely in the area of productivity. Given that the ICD-10 is so substantially different than ICD-9, coders must be able to learn how to do their jobs dramatically differently. As such, medical coder productivity is expected to drop by at least 25%.
Based on a large-scale study by the MGMA, less than 10% of providers are ready for ICD-10 and
according to a study by KPMG, most healthcare providers haven’t properly determined how the transition to ICD-10 will affect them. As an alternative to re-training their staff, assuming the major costs of a loss of productivity as well as experiencing potential losses in billing due to poor coding, many medical providers are looking to external billers with expertise in ICD-10.
Is DrChrono ICD-10 ready?
DrChrono’s billing team has been prepared and ready for ICD-10 since we learned of its proposed use. This is a major advantage for our clients because we mastered ICD-10 ahead of the curve and have a cohesive strategy for working with this coding system.