Practices Scrambling to Avoid Payment Delays from Coding Errors Following October 1 Deadline
San Jose, California – Friday, June 17, 2016 – Infinx, a provider of revenue cycle management (RCM) solutions for healthcare practices, today announced a significant expansion of its ICD-10 coding and auditing services in anticipation of increased demand following the end of the Medicare Part B ICD-10 “grace period”, effective October 1.
Prior to the official transition from ICD-9 to ICD-10 on October 1, 2015, the American Medical Association (AMA) and Centers for Medicare and Medicaid Services (CMS) announced an agreement allowing healthcare providers a one-year period in which Medicare payments would not be delayed by imprecise diagnosis codes. This leniency was intended to not disrupt providers’ cash flow as their billing professionals gained familiarity with the new ICD-10 codes, which cover medical conditions in far more exacting detail.
Beginning October 1, healthcare providers will have two choices for uninterrupted Medicare reimbursements: rely on the ICD-10 proficiency of their onsite staff, or turn to an outside partner to ensure accurate medical coding.
“With the end of the grace period looming on the horizon, we expect many healthcare practices to face a stark ‘reality check’,” said Hiren Kulkarni, CEO, Infinx. “When Medicare suddenly starts cracking down on ICD-10 accuracy, we expect many to experience a real impact on their incoming cash flow when claims are rejected for coding errors. Infinx is fully prepared to help practices tackle these challenges.”
With an expanded team of over 300 AAPC/AHIMA certified coders , Infinx provides accurate coding services for practices in a variety of healthcare specialties. Combined with over 20 in-house auditors, results are double-checked for accuracy before submission to Medicare or other insurance payors, minimizing denials and optimizing payments to guarantee an efficient, consistent revenue stream
See Infinx at Booth #1346 at the upcoming HFMA 2016 National Institute, June 26-28 at The Venetian/Palazzo and Sands Expo Center in Las Vegas. Attendees may schedule one-on-one meetings with Infinx RCM specialists at http://visit.infinxinc.com/hfma-2016/.
Infinx provides revenue cycle management (RCM) solutions for healthcare practices. Combining the strength of our cloud-based RCM platforms with our expert team of over 2,000 certified medical coders and billing specialists, we deliver solutions that focus on increasing revenue and improving cash flow. Infinx enables clients to shift emphasis from administrative details to billable patient care.
Infinx is headquartered in San Jose, California with facilities in Mumbai, Navi Mumbai and Hyderabad, India. Infinx is a subsidiary of the Tandon Group, a technology holding group which has grown multiple technology companies since 1975 and provides resources to up-and-coming startups.