Experts suggest that ICD-10 transition can hit Revenue Management cycles hard! Claim denials and rejections are expected to increase by 200% according to studies by CMS. These figures really question the provider’s ability to manage his revenue cycles.
For this, you need to stay focused on every aspect of your RCM,( http://bit.ly/1LTG6kp ) you need to monitor it continuously and eliminate all the non-value adding steps. It’s important to stay updated on all the regulatory changes associated with ICD-10 and the Affordable care act. Know all the policies, guidelines and system changes which are required to make sure you’re in the right direction.
Technology can only facilitate in a smooth transition to ICD-10 and improving revenue cycles, however it alone cannot guarantee success until and unless full commitment is shown on your part.
Licence : All Rights Reserved