What is the issues--By the end of January 2012, the healthcare industry will have completed the migration from the current ANSI 4010 electronic claims transaction format standard to the ANSI X12 version 5010 standard. ANSI 5010 is a federally required update to the current electronic transaction standard implemented under HIPAA and an important prerequisite for the ICD-10 conversion required on October 1, 2013. Since the ANSI 4010 format does not support the number or length of codes required by ICD-10. It’s absolutely essential that the 5010 platform be stable before the ICD-10 conversion

What it means to you:

If your system is not updated- your claims will get rejected-- the payers will NOT PAY YOU

If your system is not 5010 compliant you many need a NEW SYSTEM

If there are 5010 issues-- your group's collections may drop by 60-80% and eventually to 0