I am concerned that there are medical practices out there that have not done HIPAA 5010 testing, and their claims will not be compliant on January 1, 2012
Washington, DC (PRWEB) November 30, 2011
Capture Billing & Consulting, Inc., a medical billing company located in South Riding, Virginia, has finished testing and submitting insurance claims using the new Health Insurance Portability and Accountability Act HIPAA 5010 format.
Capture Billing has spent the last several months updating its network and computer systems in order to handle the new 5010 code set. 5010 code set refers to a set of rules implemented and regulated under HIPAA, which determines how electronic information is transmitted. Capture has worked closely with their clearinghouse (RealMed) to ensure medical claims can be submitted and accepted in the 5010 format.
"Our testing has gone well. There have been a few glitches along the way, but we are ready to transmit our claims in the 5010 format. The practices we service should have no problems with reimbursements next year", says Manny Oliverez, CEO and Co-Owner of Capture Billing. "However, I am concerned that there are medical practices out there that have not done testing, and their claims will not be compliant on January 1, 2012. This means their claims will not be submitted."
HIPAA's current standard is 4010 which is being phased out by 5010. The 5010 standard will go into effect on January 1, 2012. This new improved standard will allow for more efficient and larger information exchange. It will also transition the healthcare industry from ICD-9 to the newest version, ICD-10. Any medical practice not meeting the 5010 deadline will no longer be able to communicate with insurance companies. This means insurance claims will not be accepted which will affect the physician's income dramatically.
ABOUT CAPTURE BILLING
Capture Billing and Consulting, Inc., a leader in the outsourced medical billing services industry, offers one of the most cost effective outsourcing solutions to healthcare professionals available. By eliminating the need of an in-house medical billing staff, Capture Billing's staff of expert medical billers and certified professional coders help to increase physician reimbursement by improving collection rates and ensuring proper ICD-9 and CPT coding. Practicing physician and CEO, Dr. John D. Farrell, Jr., formed Capture Billing in 2004 as the answer to one of the largest concerns physicians face today, how to receive proper insurance reimbursement for services they provided.
Capture Billing & Consulting Inc.
25055 Riding Plaza, Suite 160
South Riding, VA 20152
Contact: Manny Oliverez