Billing:
Prepare Now for Upcoming Version 5010 Challenges
Published on Thu Aug 04, 2011
The 2012 implementation deadline won't change, so now's the time to start preparing.Making the transition to ICD-10 isn't the only industry initiative your ophthalmology practice should be learning about these days. January 1, 2012 marks the deadline for compliance with the new HIPAA Version 5010. Industry experts say the change will be time consuming, costly, and complicated -- which is why you need to take steps now toward successful migrations.Get to Know Version 5010The start of your transition to ICD-10 (which will be effective October 1, 2013) actually begins with a piece of health insurance reform legislation known as Version 5010. 5010 lays out the technical electronic transaction standards mandated by the Health Insurance Portability & Accountability Act of 1996 (HIPAA) transactions, and includes, among other things, requirements for transmission of claims and payment data using ICD-10.Background: Congress enacted HIPAA to establish national standards for healthcare transactions, including (but not limited [...]