August 2015 Client Newsletter

ICD-10 - TEST NOW & SECURE A CASH RESERVE

Testing. When ICD-10 goes into effect on October 1, 2015, it will be important to have become familiar well in advance to ensure you know what needs to be documented in your medical records - office, nursing home, Operative Reports, etc.

It is time to start testing now. We recommend coding two to three charts per dayso you can test the ICD-10 process you plan to use. Then send to CMB for us to review (send to Rich's attention.)

For those looking for inexpensive coding assistance, http://www.icd10data.com

offers online access for a rather economical fee -FREE! And it works on tablets and smartphones. Since ICD-10 requires more information than ICD-9, you should take a look at some of your common Dx's to view the various additional information that is required - you will likely be surprised. Many of the "Misc." ICD-9 codes do not have ICD-10 equivalents.

CPB will be able to handle ICD-10 coding for our clients just as we have ICD-9, as long as your diagnoses are specific enough. Be sure to also test that now by coding real claims. Be sure to send all ICD-10 test Charges in a separate file - to Rich's attention.

Cash Reserve. Just a reminder that while there are differences of opinion in how much cash reserve to have available, all experts are strongly recommending providers have a cash reserve in case the insurers experience processing issue in October. We would suggest three to six months would be a reasonable amount. The amount of money would be three to six times your average monthly expenses. If you will not be able to fund that much, a Credit Line is usually very inexpensive to obtain at a local bank. Cape Bank did a nice job for CMB. If interested, we can give you the name of our contact.

Referring providers: for specialists and sub-specialists - have you verified that your referring providers are prepared to send you valid ICD-10 codes?

ELECTRONIC FUND TRANSFER FOR "PAY PLUS"

If you receive a request to accept EFT (Electronic Fund Transfer) from a company called "Pay Plus" you may want to decline to accept. They are charging 1.9%. Virtual Credit Cards (VCC) also charge two-three percent - which we have written about in the past. We do not think you should have to pay in order to get paid! You may want to tell them that if they can't pay you for no cost, then send a paper check.

2015 PQRS INTERIM CLAIMS

FEEDBACK DATA RELEASED

From MGMA July 23, 2015:

"Eligible professionals (EPs) who have reported at least one PQRS quality measure during 2015 via claims-based reporting can now view their 2015 quarterly data by accessing the 2015 PQRS Interim Feedback Dashboard. The Dashboard allows EPs to monitor, on a quarterly basis, the status of their 2015 claims-based measures in order to see if they are meeting PQRS reporting requirements. EPs, or their authorized users, will need to access the Enterprise Identity Management (EIDM) System in order to view their Dashboard. For assistance, reference the Centers for Medicare & Medicaid Services' (CMS') 2015 Interim Feedback Dashboard User Guide.

EPs and groups that are reporting 2015 PQRS data through any other mechanism, such as a registry or EHR, will not be able to view their 2015 interim feedback report using the Dashboard. CMS has indicated that data submitted via alternative 2015 reporting methods will be available for review in the fall of 2016 through final PQRS feedback reports."

MOREY'S PIER DISCOUNT TICKETS

As we have done for many years, Morey's Piers allows us to share our Corporate Discount with our clients. Clients interested in taking advantage of these savings for waterpark and amusement rides can email Rich at richp@capebilling.com for the website and login information.

2015 Client Newsletter Archive