Benefits of ICD10
ICD10, the new classification system provides significant improvements through greater detailed information and the ability to expand in order to capture additional advancements in clinical medicine. The ICD-10 is not a mere update in the coding system. ICD-10 is a modernized set of codes that enables greater ‘specificity’ in indicating the exact medical condition of a patient and procedure done. This specificity will provide multiple benefits to the medical insurance billing and coding as well as healthcare industry. It brings several benefit opportunities for healthcare providers across multiple categories which include Reimbursement, Information Technology, Clinical Coding, Quality Measurement, Monitoring & Performance, and Relationship Opportunities.
The shifting from ICD-9 to ICD-10 code sets will benefit the healthcare provider in the form of more accurate payments for new procedures, fewer rejected claims, fewer improper reimbursement claims and greater efficiency in the billing and reimbursement process.
In ICD-10, the codes are specific and prevent manipulations to a great extent. This will over a period of time, have control over medical billing fraudulent activities as well.
ICD-10-CM incorporates much greater clinical detail and specificity than ICD-9-CM. ICD-10 incorporates much greater specificity and clinical information, which results in:
• Improved ability to measure health care services;
• Increased sensitivity when refining grouping and reimbursement methodologies;
• Enhances ability to conduct public health surveillance; and
• Decreased need to include supporting documentation with claims;
• Includes updated medical terminology that is consistent with the current medical practice;
• Provides codes to allow comparison of mortality and morbidity data.
ICD-10 will contain nearly 150,000 codes including CM & PCS. Though there are thousands of codes newly included, you can accurately describe a medical condition or encounter with fewer codes when compared to ICD-9 that needs more number of codes to indicate the same.
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