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Detailed text transcripts for TV channel - FOXNEWS - 20151004:16:45:00

to take a long time doctors that are already overburdened with record keeping are going to have a problem with this. people in private practices. hospitals have been gearing up for a couple of years on this already. billers are ready. they re ready. those of us in small practice are insurance companies ready, though? the reason why we re doing this segment is october 1st, after years for preparation for icd 10 we if finally got hit. the hospitals are getting ready. the tunes have to tune in. it s a big change for us. the super bills have to change, the computer software has to change. it s a major delay in getting paid for the procedures that you do. and it s going to affect you. so when you come to your doctor s office and you re going to wait a little longer and see less time with the doctor, it s because some of the changes. purpose of the change is to be having more specific codes. that sounds good. for example, for fracture you have 700 codes in icd 9. now you have ove

Detailed text transcripts for TV channel - FOXNEWS - 20151004:16:46:00

now there s a million different ones. can t you just put it into the computer? no. you have to learn it, know it. the statistics show that 25% of doctors are not prepared. that will put them out of business. that s one concern. and 75% of us are only using about 10% of the codes. we like easy stuff. we re going from 14,000 codes in icd 9 to 68,000. more complex. what does it mean for all of us? when you come, the billers have to gear up. i think long term this may work because it s going to have better outcomes, more specific outcomes. the government can look, who is doing a quality job? that s the purpose of this. we have to stick together and be patient. you know what s going to happen? you re going to go to the doctor and give it to the insurance and then you re going to get a letter like a month later saying it s the wrong code. exactly. they don t know what the hell they re talking about. a lot of denial. absolutely. the good news is, there s going to be about 500

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