The time is approaching quickly! Effective April 1, 2014, the revised CMS-1500 form (version 02/12) will replace the old version (08/05). The new version of the form is being implemented to accommodate ICD-10 codes, which will be required beginning October 1, 2014.
What might this mean for your Behavioral Health practice? Getting paid! The back office billing team here at Valant has already received correspondence from several payers letting us know that they are ready to go and will now accept paper claims on both versions. Payers are warning us that on or after April 1st, only the new version (02/12) will be accepted and claims will be denied if they are submitted on the incorrect form. We do anticipate that some of the smaller payers may not be ready for this transition until October 1, 2014 when the ICD-10 codes are effective.
Your Valant EMR will be ready! The new CMS-1500 form is currently in beta testing and will be released soon. The new feature will support formatting on both the new and the old forms. We will keep you updated on an official release date.
AUTHOR: Krista Barker