July 25, 2013
Recently, we published a detailed report that discusses the risks of ICD-10 and methods for risk mitigation. The report is organized by the areas that will be impacted by the transition. In our most recent infographic, we illustrate steps providers should take in order to avoid exposure.
According to an April 2013 WEDI survey, most healthcare providers have made little headway on moving to ICD-10 since early 2012. The industry is well behind the milestones in recommended timelines. E.g. CMS estimates that the average small hospital will need 14 months of effort in order to go live with ICD-10 by October 1, 2014.
Providers who don’t perform the required conversion efforts by the deadline will experience disruption to their claims reimbursement. Therefore, it is imperative that hospitals begin their efforts now, if they haven’t already started.
Here are some risk mitigation tips for provider readiness:
Organize your implementation effort, now.
Develop an enterprise-wide implementation project plan working backwards from the October 1, 2014 deadline.
For those of you who haven’t begun your conversion to ICD-10, get started! Save and share our infographic to minimize the number of providers that experience the negative impacts of ICD-10.