As the October 1, 2015, ICD-10 implementation deadline draws near, hopefully, your practice has continued preparation efforts by focusing on training and identifying commonly used codes (and greatest risk exposure) using tools such as Navicure’s ICD-10 Analyzer. But another aspect of this monumental change you must plan for is an increase in claims denials. One report* estimates denials will increase from 100 to 200 percent in the first few months after the ICD-10 implementation.
By streamlining your denial management processes now, you can help prepare your practice for the inevitable ICD-10-related denials while also improving your days in A/R performance. For example, follow this three-step approach used by Navicure-client Regional Urology, a two-office practice based in Louisiana:
- Avoid denials in the first place by leveraging electronic eligibility verification.
- Take advantage of electronic workflows to verify payments, compare them against contracted amounts, and quickly appeal underpayments or non-payments.
- Track your most common reasons for denials, then use that knowledge to train staff on better documentation, coding and billing processes.
If all this seems overwhelming, rest assured Navicure has been ready for the ICD-10 transition since June 2013. We can help your practice with denial management, too. Navicure’s denial management tools allow your practice to:
- Enhance your workflow with our suite of denial category appeal letters.
- Reduce Medicare denials pre- and post-transition with our CCI edits.
- Identify and fix any operational inefficiencies prior to the October 1 implementation date. (If not fixed, these issues will only be magnified once the transition takes place.)
To learn more about these ICD-10 tools, please contact a Navicure Client Solutions representative directly at firstname.lastname@example.org or 678-221-0682. You can also download our resource guide for more information.
*”Readying Your Denials Management Strategy for ICD-10,” February 2013, Healthcare Financial Management Association, hfma.org