Feb 26, 2016

Hang on to Your Money! Did you Know About the Mysterious ICD-10 Grace Period? But What Does This Mean for You…

Alanna Diffendal   |   Updated May 24   |  Reading time: 2 minutes

RXNT Logo and name displayed on a building outside

A blog released by RXNT in early January titled  “Providers Are Not Out of the Woods From ICD-10 Transition”  suggested that it may be too early to determine the true financial impact from the industry’s replacement of the 30-year old ICD-9 coding system to ICD-10 coding.

An article released by the Bureau of National Affairs, Inc. solidifies that providers should not get comfortable with initial flexibilities that they are experiencing from Insurance Payers. Under the ICD-10 grace period, claims that are coded within the appropriate family of codes (although not at the highest level of specificity) will not be denied. While many providers feel they have transitioned smoothly, there could still be bumpy roads ahead. Click here to read “ICD-10 Works, but Concerns Remain Over Audits, Productivity”.

Healthcare Providers utilizing cheat sheets or working off of ‘common codes’ for particular patient types will not survive the audits that could determine the ICD-10 affect and medical necessity chart reviews of the future.  There is an alarming need for providers and billers to learn how to code outside of these diagnosis coding ‘shortcuts’. These codes can possibly be considered non-specific and result in medical necessity paybacks after the grace period ends this October.

Now is the time for healthcare providers to evaluate their clinical encounter progress notes for proper documentation, as well as determine how their Practice Management software is working for them. Adopting RXNT|EHR can assist providers with thorough charting to meet documentation guidelines. RXNT|EHR and RXNT|PM have partnered with IMO Problem (IT)™ Technology that allows user friendly searches for ICD-10 coding using familiar clinical language, including a drill-down feature to reach the highest level of specificity from a category of diagnoses and to maximize reimbursement capabilities.

If your practice is beginning to recognize an impact from ICD-10, or you are ready to learn how adopting RXNT|EHR and RXNT|PM can offer you a high quality, integrated solution at a cost effective price, contact: S[email protected] or call 1-800-943-7968 ext. 3.

Learn More

Sign up for our monthly newsletter and get news, trends, tech updates, and more delivered to your inbox!

Featured Resources
The Record RCM Blog 1 V2

The Hidden Data Sinking Your Medical Practice’s Revenue Cycle

The Record RCM Blog 4 V2

Solving the Challenges of Patient Payment Collection

The Record RCM Blog 3

How Healthcare Leaders Can Create a Data-Driven Culture to Improve Patient Care and Revenue Cycle Management

Latest Resources

Ready to improve your practice?

See why our integrated, award-winning healthcare software is the right fit for your medical practice! Since 1999, we've developed certified, cloud-based Electronic Health Records (EHR) with Patient Portal, E-Prescribing (eRx), and Practice Management with Medical Billing and Scheduling.

Scroll to Top