What exactly does ICD-10 Readiness mean?
Unfortunately, with reference payers, it could mean “ready to deny.”
Getting paid promptly and correctly by payers is an ongoing challenge under business-as-usual payer operations. The October 1 implementation of ICD-10 is expected to reduce prompt payment and at least double denials*. Further, payers, struggling with implementation, may seek temporary refuge by pending claims, delaying authorization decisions and making broad and numerous clinical documentation requests. What will the financial impact be?
We do not know. We can only prepare.