Here we are, six months into the ICD-10 conversion.
While the headlines continue to trumpet “all is quiet” what is the real story?
We thought it would be interesting to take a look at this six-month period and compare it to a year ago. Below is a snapshot of our data for the last six months (Oct. 1, 2015 – March 31, 2016), which we compared to the same six-month period from the previous year (Oct. 1, 2014 – March 31, 2015) – the results are quite interesting:
- By Type of Service Level I, denial rates appear to be down slightly.
- Processing times are down.
- And claims appear to be getting paid faster.
What we can conclude is that yes – all continues to be quiet with no major issues on the ICD-10 front. But the story that isn’t being told is that denial rates and processing times are down, and claims are getting out the door faster – which we would chalk up to being an overall improvement post-ICD-10.
What remains to be seen is how those may or may not change in October 2016, when the grace period ends. Stay tuned!