CMS finalized the fiscal year (FY) 2023 inpatient procedure code set along with accompanying guidelines.
KEY TAKEAWAYS331 new procedure codes will become effective October 1.The middle revenue cycle will need to be updated on recent coding changes that will affect hospital reimbursement.
The FY 2023 ICD-10-PCS procedure code set and the ICD-10-PCS Official Guidelines for Coding and Reporting were recently released by CMS.
The procedure code update includes 331 new codes to be used for discharges occurring from October 1, 2022, through September 30, 2023.
The ICD-10-PCS update includes tabular updates for heart surgeries and digestive operations performed with laser interstitial thermal therapy. CMS also made updates to reporting procedures involving new technologies.
At the same time as the code update, CMS released the procedure coding guidelines, which include new guidelines for reporting procedures of certain extremities.
The coding department is one of the most critical parts of the revenue cycle. Because coding occurs mid-cycle, it provides an opportunity to catch errors introduced earlier in the process, as well as preventing similar errors in the future.
Staying abreast of these regulatory coding updates is important for revenue cycle leaders as coding—and its completeness and accuracy—has a profound impact on an organization’s bottom line.