D'Arcy Gue

“Just-In-Time” ICD-10 Forum: Give and Receive

January 15, 2014

ICD-10 2 Minute Read

It’s a confounding moment in our healthcare industry.  We’re essentially eight months from the ICD-10 deadline, and only one-half of providers have completed the first stage of ICD-10 conversion — their impact assessment. (see WEDI Survey, Dec. 2013)  Worse, providers who haven’t started their ICD-10 transition must condense implementation into one third of the two-year time period originally recommended by CMS. If they don’t do so, their claims, simply won’t be paid after September 30.

KPMG recently reported that 50 percent of providers have yet to estimate how ICD-10 conversion will impact their cash flow. Per KPMG, “With estimates by those who did measure the impact tallying anywhere from $1 million to more than $15 million, organizations are in for a rude awakening when they finally realize what the new standards will have on their bottom lines.”

The time crunch and the risks ahead are unavoidable. There are no silver bullets, but we think any venues for sharing experiences and working together will help many get through the challenge. This is the intention behind our Just-In-Time ICD-10 Forum. We recently created the group on LinkedIn to offer such a resource, and to encourage industry experts and providers to share their ICD-10 experience.

Just-In-Time ICD-10 Group

By all estimates, the implementation of ICD-10 will cause significant initial decreases in cash flow, and up to 50 percent less coder productivity for even the best prepared providers. Organizations that aren’t prepared will experience major losses.

The Just-In-Time ICD-10 Forum is providing a boost for our growing membership — a place to give and receive — and to learn from experts, along with many who have already “been there, done that.”

Join us now.

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