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The ICD-10 Transition: A Benefit or Detriment to Medical Practices?

The ICD-10 Transition: A Benefit or Detriment to Medical Practices?

Despite a lot of wishful thinking from physicians, administrators, billers, and coders, it's becoming clear that the transition to ICD-10 will happen on Oct. 1, 2014. There will be no delay.

Though practices have many concerns about the transition, it will benefit them in the long term. That's according to Michael Wilson, chief executive of Healthcare Information Management (HCIM), a healthcare software and consulting firm in Walnut Creek, Calif.

Wilson recently told Physicians Practice that benefits due to the transition will include more accurate payment of new procedures, better administrative performance, and improved patient care.

"It will allow for more granular coding, so, as we move toward electronic records being shared with other caregivers, we're going to start getting a clearer picture of what works best for successful patient outcomes," he said. "It will also have a financial benefit to physicians by allowing them to bill for more complex treatments when dealing with high-risk, sicker patients."

Still, readers expressed doubt. One commented: "Despite the cheery tone to this article I remain highly skeptical of any positive benefit to a rural, single provider primary-care practice (America's workhorses of primary care) and only major negative results from ICD-10."

How do you think the transition to ICD-10 will affect your practice long term? Will it be a benefit? A detriment? Why?

Share your thoughts in the comments section below.


 

 
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