Here are five things to know:
1. Of the surveyed participants, 94 percent reported they expected their denial rates will increase once ICD-10 is implemented.
2. One in three healthcare organizations reported they have not made revenue cycle changes as a part of their ICD-10 preparation efforts.
3. Those organizations that have made substantial changes to their revenue cycle management have improved patient collections, improved patient price estimation, tested early with payers and improved their denial management process.
4. The leading fears voiced by healthcare organizations are a lack of payer preparation resulting in payment disruption as well as increased clinical documentation update and coding requirements.
5. Sixty-one percent of healthcare organizations anticipate their denial rates will rise from 11 percent to 40 percent.
More articles on coding & billing:
Out-of-network operations: Time to assess the opportunities, risks & issues in a changing marketplace
Healthcare workers push forward bill to limit hospital price disparities — 5 points
ICD-10 troubleshooting: Ounce of prevention worth a pound of cure
