Beginning April 1, 2012, all electronic claims must be sent in the new HIPAA 5010 standard. Consequently, if your organization or vendor is not ready by April 1, you run the risk of adding significant cost, complexity and payment delays to your business processes. For this reason, you should work closely with your system vendor to ensure proper delivery of 5010 claims.
Providers submitting claims in 4010 after April 1, 2012, must manually intervene and review/augment every claim sent to payers on 5010 to ensure claims meet the new 5010 and payer requirements. For example, data required in the 5010 format might be missing from existing 4010 submissions and, without manual intervention, the claims submitted in 4010 without that data would be stopped by edits at RelayHealth or the payer.
The risks to you of delivering 4010 claims after January 1, 2012, may include:
It is up to each organization to understand where its trading partners – and its own organization – stand from a readiness perspective. Is your organization ready? Use this handy checklist to help determine your organization’s readiness for the looming 5010 deadline.
The success of your organization’s transition to the 5010 standard depends on you. Don’t delay – prepare today!