ICD-10: One CMIO Questions Its Value
December 9, 2014
by Rajiv Leventhal
During “roundtable” discussion, experts discuss what lies ahead in regards to ICD-10
ICD-10: One CMIO Questions Its Value Jed Rosen, M.D., CMIO, Carroll Hospital
Healthcare providers and physician groups are spending hundreds of hours and millions of dollars in preparation for the switch from ICD-9 to ICD-10. For those smaller medical practices and physician groups that don’t have the means to hire consultants and spend a vast amount of resources to manage the changeover, they are turning to their associations for help.
Undoubtedly, it’s a very hot topic among healthcare associations as their members navigate the complex process in anticipation of the current Oct. 1, 2015 implementation deadline. The Healthcare Billing & Management Association (HBMA), for one, is a nonprofit trade association dedicated to healthcare revenue cycle management, and is working with its members—medical billing companies— to develop best practices and contribute meaningful dialogue in preparing for ICD-10.
HBMA’s most recent ICD-10 readiness survey, taken this fall, revealed that its members are getting increasingly confident in their system’s capability to handle both ICD-9 and ICD-10 concurrently. On the other hand, 23 percent of respondents reported that system updates are not complete, and 37 percent of those that have not completed updates have no scheduled time for completion. As a result, internal testing is still lagging, the survey found.
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