Version 5010: The Countdown’s On for Electronic Transaction Changes Jan. 1

Compliance, payment, and ICD-10 hang in the balances

Are you ready to say goodbye to version 4010/4010A1 for electronic transactions? You'll need to be, starting Jan. 1, 2012, when your practice should be fully functional with version 5010 to comply with the Health Insurance Portability & Accountability Act of 1996 (HIPAA) electronic transaction standards.

Consequence: If you don't have your 5010 glitches worked out by January, you won't be able to submit electronic transactions to Medicare and potentially other payers, as well.

Prepping for ICD-10

Version 5010 lays out the technical electronic standards mandated for HIPAA transactions: claims, eligibility inquiries, remittance advice, and payment [...]

- Published on 2011-11-14