WPC Services, a full-service healthcare technology and business consulting subsidiary of Washington Public Company (WPC), asserted that the newly launched ‘5010 Check-Up’ program is designed to help hospitals and health systems meet compliance with HIPAA 5010 conversion progress, identify business problems and make changes before the end of the year.
Hospitals must convert from version 4010 to 5010 by Jan. 1, 2012, meeting the new federally mandated ANSI X12 electronic standard for claims transactions necessary for ICD-10 codes adoption.
Version 4010 was adopted on August 17, 2000 and included standardization of 9 formats for electronic data transmission and 5010 Version is massive and includes more than 850 complex changes.
According to the WPC, 5010 standards ensure that providers and payers can efficiently process transactions in an increasingly complex marketplace. WPC helps hospitals and healthcare providers build data systems that permit future upgrades with minimal effort and expense.
Officials with the company commented that they launched 5010 Check-Up to quickly help providers lagging behind and operating under a limited budget to solve complex revenue cycle-specific problems to meet the compliance deadline in six months. Hospitals as well as payers are operating under the belief that 5010 involves mapping and technology issues exclusively, but 70 percent of 5010 involves business workflow changes affecting the entire billing cycle. Unless this critical element is incorporated into their readiness strategy, organizations will experience the doubling and possibly tripling of A/R days, patient dissatisfaction and severe cash flow interruptions.
WPC explained that by employing the newly launched check-up program one can evaluate their organization’s progress for achieving the benefits of 5010, preventing revenue cycle disruptions and meeting the January 2012 deadline. The company also claimed that as the HIPAA industry expert, it is the ideal qualified compliance partner to help hospitals overcome the 5010 migration challenge on time, efficiently and cost effectively.
Nathesh is a contributing editor for HealthTechZone. To read more of Nathesh's articles, please visit his columnist page.Edited by
Rich Steeves
