Don't get too settled in 2018 - ICD10 is all set to go ICD11
The latest scoop?ICD10 transitioning to ICD11 soon! The World Health Organization (WHO) is considering finalizing the changes and implementing the ICD11 in the year 2018. But are we going to go into panic mode all over again? We have successfully implemented ICD10 and it is going great so far. Would it be safe to say we would expect the same with this transition as well? Read on to find out how smooth or rickety this transition is predicted to be. The first thing to consider is that we have additional time until the US deems it fit to transition – there are a lot of regulations and stakeholder interests involved.
Another transition already?
The first question that pops into the minds of most of us is “Why so soon?”
Though ICD10 covered almost all the topics and addressed pressing needs, some critical additional changes are invariably needed. As we are all aware that Medicine is an evolving field and breakthroughs and changes are not only expected but mandatory. Mankind has come a long way – technology and information sharing has risen to the peak in the 20th century via the internet. This has helped the field of Medicine in numerous ways and diseases so far considered to be incurable have been studied with the latest technology and new experimental methods have been considered. Artificial Intelligence is quite common in the surgical field. Robotic operations are highly precise and accurate which results in the quick recovery for the patients and overall surgical costs are brought down. Add to this, early detection of diseases like cancer for example, which will save hundreds of dollars spent in treatment once the disease has set in. So what does this translate into?
New codes are urgently needed to cover almost all the disease conditions, as more and more new viruses and bacteria are discovered, not to mention their mutations over a period of time.
The verdict - ICD10 to ICD11 transition will be smooth
- Lower Denials: We strive to keep updating the codes to bring all this under the blanket of ICD and be more specific when assigning ICD codes. This will help in cost reduction in the healthcare industry, more clarity in code selection and fewer denials in RCM hopefully.
- ICD12 is not foreseen: ICD10 was a huge step in the healthcare industry. Now that we are quite settled down in it and grown used to the new structure of codes, it will be quite a smooth move into ICD-11. And the good news is that another revision is not foreseen in the near future.
- Considerably lesser additions/revisions: The new set of codes will not be as complex as the process was for the ICD-10. Changing over from ICD9 to ICD10 was a colossal task. Such a vast change in codes is not anticipated this time around. The number of new codes being added will also be considerably less compared to ICD10.
“The secret to change is to focus all your energy, not on fighting the old, but on building the new"-Socrates
So folks, let’s get ready for the new challenge. Any improvement will always entail some hardships temporarily. But in the long run, it will be advantageous to all in the healthcare industry. Looking at new changes with an open mind will be beneficial for all long-term. So signing off on a positive note!! Let’s gear up for the new challenges with ICD11.
If you’re looking for certified coders to help you with the transition, or are looking to outsource revenue cycle management, patient engagement, physician credentialing etc., do give the experts at Velan a quick heads-up on +1 860 215 4997 or email us at firstname.lastname@example.org.
At Velan HCS, we handle coding, revenue cycle management and Healthcare accounting for practices all over America. We have helped our customers bring down denials from 57% to 12% and have a proven track record of helping practices increase their cash flow from Week1! Give us a try!