The transition to ICD-10 was touted as the Y2K of the healthcare industry. After years of preparation and training the industry held its breath as October 1st came and went. But, much like Y2K, the predicted disaster never happened. In fact, according to a new survey by KPMG, 80% of organizations believe they have had a smooth transition to ICD-10.
Catherine O’Leary, KPMG managing director, said, “The first few weeks of the transition have been smooth with only limited technical difficulties.” A survey of 298 attendees confirms this with 28 percent saying the transition has been smooth and another 51 percent found “a few technical issues, but overall successful.”
That is certainly the case for eMDs clients. One month after the mandated October 1, 2015 ICD-10 transition date, our clients were submitting claims using the ICD-10 format at almost a five percent higher rate than the industry average and were receiving almost 15 percent fewer rejected claims.
About 11 percent of respondents to the KPMG survey described the transition as a failure. “[These] organizations that are struggling need to be helped,” commented Todd Ellis, managing director at the tax, audit and advisory firm. “The communities these organizations serve depend upon their healthcare providers to meet their medical needs and we need to help them through these challenges.
eMDs committed major resources to ensure its systems and customers were ready for the transition. Preparations included thorough testing of all relevant processes and provisioning customers with 24x7 access to a comprehensive ICD-10 resource center that included tips, tricks, recorded training, and guidance documents.
We also made our ICD-10 Search “Survival Kit” available at no charge to non-customers, saving providers hundreds, if not thousands of dollars. The kit enables providers to rapidly find the right ICD-10 code and also suggests secondary codes needed for more specific reporting, thus improving the rate of accepted claims.