Claims paid since 10/1/15
One of the great things about working with so many clients around the country is that we really do have our finger on the pulse of how claims are processing because of the sheer volume of claims we submit on a daily basis. We are able to see trends and processing issues very quickly which means we are able to react very quickly. Like every medical provider and billing service across the country, even though we had done our homework and all the prep work for ICD-10, we too held our breath waiting to see what was going to happen with that first batch of claims we submitted after 10/1/15. And you know what happened – nothing. Everything was fine. Hurricane ICD-10 turned out to be not much more than a light drizzle.
Here are a few stats on how our claims have processed with ICD-10 codes the first week of October.
- 15,394 claims with ICD-10 codes submitted electronically through our clearinghouses
- 193 claim rejections
- 99.99% First Pass Resolution Rate!
The Next Step
Now that we have all made it to the other side of 10/1/15 and our lives are pretty much the same as they were before 10/1/15 we can’t help but wonder that all that noise about? We aren’t implying that it wasn’t hard work preparing for ICD-10 but now it definitely doesn’t seem to be the claim and payment processing nightmare everyone was blogging about. We know we’re still in the early stages and there may be a few small glitches but our plan of action is simple. We are going to stay focused on what we do best- delivering first class service to our clients. We will track and monitor every claim (ICD-9 or ICD-10) that goes out the door and make sure it’s paid a quickly and at the highest rate possible. Just like we have done for the past 30 years and will continue to do in the weeks and years to come.
“As a practice owner who is busy treating patients all day I was worried about the ICD-10 transition for my staff. I was especially concerned about interruption of cash flow. With BMS’s proactive preparation it went smooth and now I gladly delete all emails offering more education on how to implement.”