Attention all labs: There's a major deadline looming.
Conversion to HIPAA 5010, the new form for electronic healthcare
transactions, must be completed by January 1, 2012. That's less than
eight months from today.
This revised form accommodates the new ICD-10 codes, which represent an
even bigger change in how your lab submits claims and which take effect
in 2013.
Form 5010 must be in place, fully tested and ready to go, before ICD-10
codes can be implemented. No small feat, given the scope of the changes
to come. And if you think your laboratory has plenty of time to
prepare, think again.
There's software to update, staff to train, and significant changes
that your lab will need to make to its procedures and materials. Not to
mention taking steps to ensure that you and everyone on your team
understand exactly what it means to be 5010-compliant.
Recent studies indicate that both individual laboratories and the
healthcare industry are far less prepared than they should be. But
waiting is risky, so why take the chance that your lab will be caught
short when the deadlines roll around?
What's at risk if you're not ready? Your lab's revenue and timely
reimbursements from Medicare carriers and private payers. Without the
ability to use the new 5010 form and the new ICD-10 codes, you can
pretty much guarantee a hefty increase in your lab's rate of claim
denials. That means extra work to resubmit these claims, then
additional weeks or even months of waiting for your lab to finally get
paid.
Find out how you can protect your lab's revenue when you join The Dark
Report and DarkDaily.com on Tuesday, May 24, 2011 for a very timely
audio conference about the new 5010 form and ICD-10 codes. Listen as
Lâle White, CEO at Xifin, Inc., provides you with a 5010
compliance readiness timeline. You'll learn:
Specific action steps your laboratory should take.
How to assess your lab's readiness for 5010 implementation.
“Must-achieve” benchmarks to ensure your lab meets the
January 2012 deadline for 5010 compliance.
You'll also get practical insights from Lee Ann Nichols, Chief Business
Officer at West Pacific Medical Laboratories (WPML), who will share
their experiences and lessons learned as her lab prepares to be fully
compliant for 5010 in January 2012, followed by ICD-10 in 2013.
Adding to the burden of implementation is the fact that the number of
ICD-10 codes is expected to increase from 17,000 to more than 75,000.
But there is some good news in all of this: because ICD-10 includes
codes for many new healthcare diagnoses and procedures, they'll add
precision to the bills your lab submits to payers for new genetic and
molecular tests.
But it's not just labs that will need to be ready for this explosion of
codes. Your lab won't get paid unless its physician-clients are
prepared as well. That means developing a strategy to ensure that your
doctor clients-and their staffs-are well versed in the correct codes
and can submit accurate test orders to your lab that include the
appropriate ICD-10 codes.
This audio conference is designed to help your laboratory get a head
start on preparations. The one-two implementation of 5010 forms in 2012
and ICD-10 in 2013 raises the stakes for your laboratory to submit
clean claims and get timely reimbursement from Medicare carriers and
private payers.
Here's where this audio conference pays for itself many times over: it
will help you better assess the readiness of your key payers and
vendors, and give you tips on how to interact with these payers so that
your lab's 5010 submissions are accepted and processed in a timely
manner. It's an important management strategy that will protect your
lab's cash flow.
As payers struggle to get ready for 5010 claims submission, many of
them could prove to be an obstacle in transitioning to the new forms.
You'll learn proven strategies your laboratory can use in response to
payers who lag behind in 5010 preparedness.
Because this audio conference is about how your laboratory
submits its claims-and how quickly payers reimburse you-it's
a “must-attend” event. And remember that you can
have everyone on your lab team participate with you. For just
one registration, you can all listen, learn, and get personalized
answers to questions about your lab's unique needs. Register
today to guarantee your place at this invaluable learning
session.
THE DARK REPORT AUDIO CONFERENCE AT A
GLANCE
DATE:
Tuesday, May 24, 2011
TIME: 1 p.m. EDT; 12 p.m. CDT; 11 a.m. MDT; 10 a.m. PDT
PLACE: Your telephone or speakerphone
COST: $195 per dial-in site (unlimited attendance
per site) through 5/13/11; $245 thereafter
TO REGISTER NOW:Click
here or call 1-800-560-6363 toll-free
How to assess your lab’s readiness for 5010 implementation.
Using the right checklists to prepare your lab’s coding, billing,
and collections workflow to properly support the HIPAA 5010
form.
Easy
ways to avoid the most common problems.
What
you need to know to protect your lab’s cash flow as
payers struggle with their own 5010 adoption issues.
Tools to decipher the rhetoric on 5010 and ICD-10.
A set of metrics and milestones to use during implementation.
How to assess your vendors’ preparedness.
Why 5010 is the “easy” implementation compared to the challenges
associated with ICD-10 adoption.
The possible consequences of missing the deadline.
…and much more!
How to Register:
1. Online
2. Call toll free: 800-560-6363. Your audio conference registration includes:
A site license
to attend the conference (invite as many people as you can fit around
your speakerphone at no extra charge)
Downloadable
PowerPoint presentations from our speakers
A full
transcript emailed to you soon after the conference
The opportunity
to connect directly with our speaker during the audience Q&A session
Register
Now!Or for more
information, call us toll-free at 800-560-6363.
Distinguished
Faculty:
Lâle White
co-founded XIFIN in 2001 and serves as its CEO.
She is a nationally recognized expert in the field
of medical financial management and regulatory compliance,
with more than 25 years’ experience in information
systems development and medical billing. Ms. White
has consulted for major laboratories and associations
throughout the U.S. and worked with HCFA and the
U.S. OIG to develop the first OIG Model Compliance
Program. She previously served as VP-Finance at
LabCorp, one of the largest clinical reference laboratories
in the U.S. Ms. White has a BA in finance and an
MBA from Florida International University.
Lee Ann Nichols
is the Chief Business Officer of West Pacific Medical
Laboratory where she is in charge of all operations
for the company’s Orange County and Inland
Empire divisions and is responsible for accounts
receivable, human resources and client services,
company-wide. Ms. Nichols is an expert in laboratory
billing and operations, more than 25 years’
experience. Previously, she served as Director,
Molecular Diagnostic Services, at XIFIN, Inc., and
as Vice President of Accounts Receivable at Westcliff
Medical Laboratory.
ACCENT® Continuing Education Credit
The American Association of Clinical Chemistry (AACC) designates this
program for a maximum of 1.5 ACCENT® credit hours towards the AACC
Clinical Chemist’s Recognition Award. AACC is an approved provider of
continuing education for clinical laboratory scientists in the states
of California, Florida, Louisiana, Montana, Nevada, North Dakota, Rhode
Island, and West Virginia.
Justin M. Clark