ICD – 10 Better Than Expected

Lenders and Factors have been gearing up for many applicants to be generated by the new coding structure called ICD-10. These are the internationally accepted diagnosis codes used by all providers. The new codes have increased in number and provide more specificity in terms of truly identifying what the patient is suffering from.

It has been expected by both providers and insurance carriers that once implemented, this new list will generate confusion at best and gridlock at worst. Lenders and factors have been marketing to healthcare providers to use their finance facility to take them through the anticipated difficult time immediately following its implementation. Very often business opportunities arise from changes in an industry such as healthcare, and lenders would be foolish not to take advantage of this, the most significant change in the industry in decades.

Low and behold, now in effect ICD-10 implementation appears to have no, or very little, disruptive consequence as was anticipated. Accordingly the perceived business opportunities for lenders never transpired. Apparently, the insurance carriers to include Medicare and Medicaid have accommodated the anticipated errors and will pay under those circumstances.