CodeSmart™ Group Introduces an Affordable, Turn-Key ICD-10 Transition Package for Physician Practices Package Provided Onsite or Remotely
NEW YORK, Dec. 20, 2013 /PRNewswire/ -- CodeSmart Holdings, Inc. (OTCQB: ITEN), with its subsidiary, The CodeSmart™ Group, Inc. (collectively, "CodeSmart™"), a premier ICD-10 education and solutions group that offers CODESMART™ UNIVERSITY, its on-line education solution and customizable training solutions, announces today that the turn-key, ICD-10 transition package for physician practices can now be offered remotely. CodeSmart™'s unique and affordable ICD-10 transition package has already begun to reach physician networks throughout the country.
In a letter to Speaker Boehner, the American Medical Association states1, "Depending on the size of a medical practice, the total cost of implementing ICD-10 ranges from $83,290 to more than $2.7 million. CodeSmart™'s turn-key transition program was designed to streamline the transition using best practices at a fraction of the national average," said Ira Shapiro, CEO of CodeSmart™.
CodeSmart™ is one of the first to offer a comprehensive, remote ICD-10 transition package to physician practices. The product is comprised of four phases: ICD-10 Impact, People Process Technology, Testing Plan, and Implementation. Each phase is designed to assist physician practices on their ICD-10 implementation efforts. Another offering includes outsourced ICD-10 coding with CodeSmart™'s certified coders. For example, identifying potential changes to work flow and business processes, and identifying the managed care contracts for opportunities to renegotiate with payers. The product is designed to ensure an uninterrupted revenue cycle and provide the easiest approach to ensuring a smooth transition to ICD-10, which will become required for reimbursement on October 1, 2014.
In addition, the package offers business management solutions offered through CodeSmart™'s partner, Avisena, which helps decrease denials, maximize reimbursements, reduce account receivable balances, and increase overall visibility and control over physician practice revenue. CodeSmart™ also provides outsourced medical coding and clinical documentation resources for providers. This program is the first of its kind for providers offering all facets of support for the ICD-10 transition and beyond. "CodeSmart™ can reduce the stress of ICD-10 implementation by helping physicians better understand the clinical documentation requirements of the new coding system," continued Mr. Shapiro. "We want to train and educate physicians in a way that respects their time and expertise without sacrificing current workflow or revenue cycle."
CodeSmart™'s enhanced physician product is equally equipped to accommodate large multi-office practices and small, rural healthcare facilities.
CodeSmart™'s turn-key suite of solutions in ICD-10 is widely endorsed in the US. Additionally, CODESMART™ UNIVERSITY is offering a customizable learning platform for providers by specialty. It offers customized online and hybrid education programs for all specialty areas focusing on clinical documentation and the most prevalent codes for each practice. "Our ICD-10 education for clinicians is all about getting them prepared for ICD-10 in a practical and cost efficient manner," stated Mr. Shapiro. CodeSmart™ offers an interactive and intuitive approach to learning in the healthcare industry as recognized by the world of higher education.
CodeSmart™ plans to roll the remote physician practices package out in a cost efficient and timely manner utilizing their direct access to physician practices through their strategic partners and Jasper Group Holdings' CandidateXchange.
1 American Medical Association. (2012, January 17). Retrieved from http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=1&cad=rja&ved=0CDkQFjAA&url=http%3A%2F%2Fwww.ama-assn.org%2Fresources%2Fdoc%2Fwashington%2Ficd-10-john-boehner-letter-17jan2012.pdf&ei=5DyzUpO_Naby2QXDm4C4CQ&usg=AFQjCNHUc3T1Grly-TIgQoAOl6hrtyYLNw&sig2=vRFR4Rg7dhV5KHdOmJI4-Q&bvm=bv.58187178,d.b2I
ICD-10, or the tenth revision of the International Classification of Diseases is a World Health Organization-approved designation of the aspects of disease treatment that includes categories of diseases and treatment modalities for them, broken down in to more than 141,000 designations. The previous ICD had only 17,000 codes, diagnoses and procedures. The United States is among the last countries in the world to adopt these standards, but the Department of Health and Human Services has mandated that all medical practices, hospitals and other medical record keeping organization be trained and ICD-10 compliant by October 1, 2014. This is essential as the Center for Medicare and Medicaid services will also be adopting the ICD-10 standard and will require proper medical coding in order to provide reimbursement.
CodeSmart Holdings, Inc. (OTCQB: ITEN) with its subsidiary, The CodeSmart™ Group, Inc., is a premier national subject matter expert for ICD-10 education and compliance in the United States. Its product, CODESMART™ UNIVERSITY, is an on-line program of study for existing coders, new coders, clinicians, and healthcare roles of all types. Created by a combination of a leading panel of ICD-10 subject matter experts and a major four-year accredited university, which contributed the nation's top course designers and a platform that already provides interactive education to more than 60,000 students per year in degree programs. The ICD-10 training also includes live professors who work with and guide students through the programs of study in ICD-10.
CODESMART™ UNIVERSITY is endorsed by over 70 colleges and universities nationwide for its quality of education, as well as the number one ranked featured solution in the HIMSS ICD-10 Playbook. The CodeSmart™ Group, Inc. also provides solutions for ICD-10 transition, outsource coding, coding audits, critical documentation improvement and the revenue cycle continuum.
To learn more about The CodeSmart™ Group's proprietary programs, visit www.codesmartgroup.com.
SOURCE CodeSmart Holdings, Inc.