ZirMed Announces ICD-10 Success and Reveals Top 4 Post-Transition Tips for Providers
LOUISVILLE, Ky., Nov. 18, 2015 /PRNewswire/ — ZirMed®, which empowers healthcare organizations to optimize revenue and population health with the nation’s only comprehensive end-to-end platform of cloud-based financial and clinical performance management solutions, announced today that it has helped its clients successfully maintain an industry-leading first pass clean claims rate of over 98 percent through October’s transition from ICD-9 to ICD-10.
During the month of October, ZirMed helped its clients handle thousands of ICD-10-related support cases. Eighty-five percent of all cases were resolved within the same day, with the majority of ICD-10-related issues attributable to split claims, invalid codes and invalid qualifiers. ZirMed’s proactive editing technology catches ICD-10-related rejections before the claim is sent to the payer, helping nearly 300,000 providers and over 8,000 healthcare organizations get paid more quickly and accurately.
“These outstanding results are a testament to ZirMed’s years of planning and preparation,” said Ken Edwards, Vice President of Operations at ZirMed. “The benefits of a company-wide, multi-year effort are clearly evident in our ability to catch ICD-10-related issues for our clients before their payers do. This simplifies the process for everyone involved and upholds our commitment to helping providers get paid.”
One of ZirMed’s Indiana-based clients, The South Bend Clinic, engaged with ZirMed early on in the planning process and shared an update on the organization’s progress post go-live. Julie Trimble, Billing Systems Analyst, explains, “We expected October first to be a crazy day, but thanks to our testing efforts with ZirMed and previous training with dual coding, we billed our first batch of claims October second. We’re seeing a few isolated rejections due to overlooked standing orders, but overall have seen that our training and testing efforts have paid off.”
As providers like the South Bend Clinic continue to refine organizational processes following the ICD-10 transition, ZirMed has developed the following post-ICD-10 recommendations:
- Analyze revenue and financial impact. Frequently review critical ICD-10 metrics and look for rejection trends sorted by payer. ZirMed recommends tracking Accounts Receivable (AR) days, denial rates and denial reasons.
- Evaluate staff productivity. As staff get up to speed with the new coding set, identify where there might be efficiency roadblocks in the organization’s business processes to determine where retraining is necessary.
- Test coding accuracy. Implement a quality assurance process and audit quality reporting. If needed, consider technology solutions such as a coding lookup tool or coding crosswalks to speed up the learning curve.
- Assess technology readiness. Determine whether mistakes were made because of user errors or technology glitches. Identify workaround solutions until additional training or a technology fix can correct the issue.
For more recommendations, and to learn more about ZirMed’s comprehensive ICD-10 strategy, please visit the company’s ICD-10 Resource Center.
ZirMed empowers healthcare organizations of all sizes and types to optimize revenue and population health with the nation’s only comprehensive end-to-end platform of cloud-based financial and clinical performance management solutions—including patient access, charge integrity, claims management, AR management, patient responsibility, and population health management. By combining breakthrough predictive analytics technology with innovative software development and the industry’s most advanced transactional network, ZirMed solutions extract actionable insights that improve our clients’ revenue cycles and support effective management of population health—while streamlining workflows, increasing operating efficiencies, and driving bottom-line performance. ZirMed’s technology and client support continue to be honored with top industry awards, including KLAS®, Healthcare Informatics, Best of SaaS Showplace (BoSS), and Black Book Rankings. To learn how ZirMed can help your healthcare organization boost its financial and clinical performance in an era of changing reimbursement models and rising operating costs, visit www.ZirMed.com.
Aria Marketing for ZirMed
Telephone: (617) 332-9999 x214