ICD-10 implementation is now underway, and psychologists, therapists, and psychiatrists are in for a huge change. In fact, they are in for the biggest coding change in decades. With over 55,000 new diagnostic codes, all physicians are likely to feel the pressure.
Every single diagnostic code currently being used by therapists practicing ICD-9 will become irrelevant. A failure to properly code ICD-10 will result in unpaid claims. In order for a practice to continue running, correct ICD-10 coding is imperative. A medical coding company can relieve the risks.
(Learn about the consequences of coding errors.)
In May 2013, the DSM-4 upgraded to DSM-5. With that upgrade many codes were eliminated, some codes were added, and other codes were simply updated. It was a huge change in regards to the diagnosing of mental and behavioral health.
In a way, this change was highly advantageous to the mental and behavioral health industry. DSM-5 was written to include codes that work for both ICD-9 and ICD-10.
The problem is that many practices are still transitioning to DSM-5. Even though it was implemented in 2013, complete and total adjustments to a new system of diagnoses take a long time. It is expected that the additional changes in ICD-10 will be a hard adjustment and may cause a major backlog of payments.
There is some good news. Most mental health providers have already been referring to DSM-5 Insanely Simplified, Unlocking the Spectrums within DSM-5 and ICD-10, written by Dr. Steven Buser and Dr. Leonard Cruz, and those that aren’t should. The new adoption of DSM-5 challenged clinicians to rethink the way they approached diagnoses. ICD-10 furthers that challenge. This book can be used as an all-in-one guide to DSM-5 and ICD-10.
Almost every single ICD-10 code a mental health clinician needs is found within Dr. Buser and Dr. Cruz’s guide. In one single description of a diagnosis, you will find a summary of diagnostic features, commonly used codes, and coding help on the subdivisions of severity.
The bad news? It may be a little too late. If you have not already begun adapting to ICD-10, the transition may be too much.
If you are a mental and/or behavioral health provider, it is highly recommended that you hire a medical coding company to help you with this transition.
If you are not prepared, you could face a significant cut in your revenue cycle. Coding errors mean payments from providers may be made late, or not at all. In the worst cases, your practice could even face criminal charges.
By hiring a medical coding company, your practice can stay on track, and focus on what is most important: your patients. If you are currently coding within, you will find that outsourcing a medical coding company for this transition will not only save you stress but also time!
Instead of racing to keep up with the new changes like other clinicians, transition with ease. With the new time on your hands, you may even find your practice doing better than before. Contact us today.
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