The denial rate for claims initiated after the crossover from the ICD-9 system to ICD-10 codes in October has been steady—and lower than hysterics predicted it would be—if the 262 million claims processed by one company are any indication. RelayHealth Financial, a revenue cycle management provider, found a denial rate of 1.6% in each month from November 2015 through the first 3 weeks of February 2016. That reflects claims involving 630,000 healthcare providers. The financial impact is still significant, however; nationwide, roughly $12.9 billion in medical claims has been denied since Oct. 1, according to RelayHealth.
Denial Rate Low—But Costly—4 Months Into ICD-10