The delay in ICD-10 implementation is an opportunity to hone the skill set of your physicians, coders, and clinical documentation specialists. It is also a time to review your operations and create the efficiencies needed to get the revenue cycle in tip top shape.
Take this time to drill down into your data, analyze your coding vulnerabilities and your potential reimbursement impacts. Analyze what physicians or what physician services are needed to develop more specified documentation to more fully describe the services they are rendering and the diagnostic reasoning behind the services or tests ordered. Continue to have your coder’s dual code a certain percentage of charts per day to develop their skill set.
Create teams comprised of physicians, coders, CDI specialists and key revenue cycle staff that review the data. Have the team develop a strategic plan to move the organization closer to an ICD-10 compliant environment. The plan should include an auditing and feedback loop that encourages the development of more precise documentation from the physicians, while it encourages the coders and CDI specialists to hone their skills and improve accuracy and proficiencies.
In addition, the strategic plan should include Revenue Cycle Optimization. Revisit your work flows, ask yourself if they are as efficient and as effective as possible. Examine your denials; how many by type per payer? Ask yourself why you have the denial. The root cause analysis will be a valuable exercise and assist you with updating processes, procedure work flows and systems to eliminating the denial, thus increasing cash flow and reducing your accounts receivables and work force hours spent in re-work.
The data analytics and developing a strategic plan on how to utilize the data, will launch you into the great experience of becoming a more finely tuned organization and assist with moving toward an ICD-10 ready organization.