Getting Ready: A best practice in project management is to establish a project team consisting of a project lead/manager and project members. The project lead is responsible for the project team’s progress, provide resources, make timely decisions, and be an escalation point for project issues.

With one year to go until the mandatory transition date of October 1st, 2014 to use ICD-10, providers and their billers need to start some important activities to successfully transition to the ICD-10 code set. The CMS (Centers for Medicare & Medicaid Services) advises that practices will experience some drop in receipts due to the ICD-10 transition and recommends that practices budget some cash reserves to mitigate this risk. Physician Billing Partners (PBP) is trained on ICD-10 & ready for the transition and recommends practices start the following ICD-10 planning activities to ensure a smooth transition: Training, Testing, & Transition to ICD-10.

* Accelerate reengineering benefits
* Access to world class capabilities
* Free resources for other purposes
* Difficult to manage or out of control
* Reduce risk

Physician Billing Partners has garnered a wealth of knowledge when aiding Physician Practice start-ups and expansions. We have put together a list of key points and tips to empower you in a successful start in operating your own practice.