ICD-10 – Its here

As of September 2015, “healthcare organizations are overwhelmingly optimistic about being ready for the Oct. 1, 2015 ICD-10 transition date, yet only 43 percent feel they are currently on track with their preparation” as told by Healthcare Informatics in its September 2, 2015 publication.

In a few weeks until the transition, the survey found healthcare providers are prepared but at varying levels. Optimistically, they allege that they will be ready when the transition happens. The fly in the ointment is that 57% of those surveyed say that they are not on tract for an on time implementation.

Healthcare Informatics reports regarding:

1. The impact on revenue and cash flow. More than half of the providers surveyed were concerned with slow payments and almost all expected reduced revenue do to increased denials. Many of those surveyed have not prepared for these business interruptions.
2. Increased clinical documentation improvement. Slightly more that one quarter of those surveyed was concerned with increased requirements for supporting documents, and added “paper work.” Many have invested in staff training and educational support.
3. End-to-end testing results. More than half of the surveyed providers have tested and have had successful results. This process is still going on or has not yet been done in more than one third of those surveyed.

To summarize, surveys have shown that still too many are in the midst of testing, and implementing the new process. Many are fully ready and can jump in completely confident on October 1. Carriers (and Medicare) will provide as much flexibility as possible to try and keep cash flowing for a reasonable time until the new process is absorbed and properly executed by the industry.