President Obama Signs SGR Reform Bill
- By Alex McKinley
- In Billing
- April 16, 2015
- Comments Off on President Obama Signs SGR Reform Bill
President Obama signed the Medicare Sustainable Growth Rate (SGR) reform bill, HR 2, into law Thursday, Apr. 16, 2015. The bill restructures Medicare payments to healthcare providers and clears a path towards the mandated ICD-10 implementation date. The bipartisan legislation passed the Senate on Tuesday in a late night session (92-80).
ICD-10 is the mandated replacement for the ICD-9-CM code set used by medical coders, billers, and payers to report healthcare diagnoses and procedures. Its implementation will radically change the way documentation and coding are done, and will require a significant effort to implement.
Find more information about ICD-10 implementation on our website.
Alex McKinley is AAPC’s senior marketing communications manager. Prior to his work at AAPC he worked in the tax and accounting industry. He received his bachelor's degree in Mass Communications (Public Relations Emphasis) from the University of Utah.
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This makes me more then a little excited. It is finally going to happen. Doing the ICD-10-CM Happy Dance. “Sigh” I do love ICD-10!
With the implementation of ICD-10, there is going to be a big boom in medical transcription and in medical coding which will help who are there in this business up to a very huge extent. The people who are doing transcription, they will sort of get a relief because now their jobs will be secured and their pays will increase as the doctor would no longer be able to use their point-and-click on the EMR to generate a medical report and would have to rely on traditional method of making medical records, which is through dictation, and on the other hand, coders will also be benefited with their pays going high because tough jobs will fetch more money as ICD-10 is more complex and would generate more jobs. So, it is a big boon for everybody……….
It is a really big Challenger for each and every coders, billers and clearing house…. We are ready to welcoming this…..