The proposed modifications to the ICD-10-CM code set for fiscal year 2024 have been made public by the Centers for Medicare & Medicaid Services (CMS). 395 new codes have been added, 25 current codes have been removed, and 22 codes have been revised. Healthcare companies’ revenue cycle will be significantly impacted by these changes.

There are 78 new codes, 14 updated titles, and 5 removed codes in ICD-10-PCS.

The following are some of the specific changes to the 2024 ICD-10-CM code set:

• New codes have been introduced to accurately capture external causes, such as intrahepatic cholestasis of pregnancy, retinopathy, chronic migraines, osteoporosis with pathological fractures, neoplasms and tumors, and more (e.g., W44 series to indicate foreign body entering into or through a natural orifice). The new codes will enable healthcare organizations to appropriately bill for the treatments they give to patients with these diseases, which are growing more and more common. For instance, a subcategory for individuals with and without dyskinesia is included in the new Parkinson’s disease code.
• To indicate the Caregiver’s additional noncompliance with the patient’s medication schedule, renal dialysis, and other medical procedures, a significant number of Z codes are added. For instance, Z91.A41, which addresses caregivers who fail to follow a patient’s prescription schedule because of financial difficulties.
• More codes have been implemented to depict the interactions between guardians and children. For instance, Z62.23 (Child in the care of a non-parental relative)
• Revised ICD-10-CM codes for supra-celiac and paravisceral aneurysms of the abdominal aorta with/without rupture include I71.51, I71.52, I71.61, and I71.62. The phrase “abdominal aorta” has been updated to “thoracoabdominal aorta.” These changes will make it possible for healthcare institutions to bill for the aneurysm’s most precise anatomical location.

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The revenue cycle for healthcare businesses will be greatly impacted by the 2024 ICD-10-CM code set changes. The updated and new codes will help accurately record the patient’s medical conditions, guaranteeing that the services provided are medically necessary. This is important for increasing first-pass ratios of claims and preventing denials.

The 2024 ICD-10-CM code set changes should be thoroughly examined by healthcare organizations, and a plan should be created to handle the effects on their revenue cycle. Healthcare organizations can take the following actions to get ready for the changes:

Go over coding conventions : To make sure that their coding procedures are accurate and in line with the new code set, healthcare institutions should assess their procedures. This could entail updating coding software and educating employees on the most recent codes.

Communicate with patients and payers : Payers should be informed about the changes to the ICD-10-CM code set by healthcare organizations. By doing this, Payers will be better able to process claims accurately and be aware of the changes.

Monitor the impact of the changes : Healthcare companies ought to keep an eye on how the adjustments are affecting their revenue cycle. By doing this, possible issues will be found early on and solutions will be implemented. Red flags that can be fixed before billing can be filtered with the aid of front-end system rules and adjustments.

Healthcare businesses can smoothly implement the 2024 ICD-10-CM code set changes on their revenue cycle by following these procedures. With Access Healthcare’s all-inclusive medical coding services, your business may increase cash flow, decrease denials, stay up to date with evolving regulations, and increase accuracy.  To find out more about our medical coding services, get in touch with us.