Many professionals and healthcare organizations would like the Centers for Medicare and Medicaid Services (CMS) to issue a final rule that includes a firm deadline for ICD-10 implementation. Most are going on the assumption that October 2014 is a solid date, but the uncertainty about the deadline is causing some organizations difficulty in focusing on the goal.
The impending ICD-10 coding classification transition has certainly scared many people who faced new training, new technology and possible reduction in cash flow due to poor reimbursements. No matter how long this dreaded event has been looming, many aren't prepared for the significant change it will bring about.
ICD-10 implementation costs continue to be a concern for healthcare organizations and a common topic of conversations throughout conferences, networking, and probably across a few bar stools. The extended deadline to October 2014 didn’t diminish that concern. In fact, in some cases, it probably added to the pressure. The costs associated with the transition can easily reach a quarter to half a billion dollars for the information technology, training, and other upgrades.
There are many arm chair experts who have ideas about how to make future national standards upgrades and conversions—such as the upcoming adoption of the national plan identifier and the conversion to ICD-10—go more smoothly for healthcare organizations.
As big data continues to dominate the technology topics, healthcare is quickly becoming the arena. Leaders in healthcare organizations understand that data analysis can change how they operate. Maybe this was driven by the ICD-10 coding classification transition that has been a huge concern for the past year and will continue to be until the deadline of October 2013 arrives.
Optum has launched its latest coding technology product, Optum Enterprise CAC. This computer-assisted coding (CAC) platform can help healthcare organizations accelerate their transition to ICD-10, as well as increase productivity and simplify coding and documentation processes.
In order to receive reimbursement for patient claims, healthcare providers will have to begin using a new coding classification for medical diagnosis and inpatient procedures before October 1, 2014. That seems like far in the future, but when you realize the comprehensive and complicated processes involved in transitioning, many think it isn't long enough. The number of possible diagnostic codes will increase from 14,000 to 68,000, while the number of inpatient codes will increase from 4,000 to 87,000.
In the midst of the delay - no delay debacle, it seems like when was the burning question? Some ponder that the question should have been why? Why transition to ICD-10 at all? The reasons often given for a new coding classification often involves the need to update the data structure or to provide for more codes. Considering the new ICD-10 has five times more codes than its predecessor, it may have been part of the goal regardless of being part of the reason.
Unibased Systems Architecture will be supporting the ICD-10 medical diagnosis and inpatient procedure coding in its newest ForSite2020® release. The new release will be prepared to handle the ICD-10 code sets when the deadline of October 2014 comes around, which is good since there will be five times the number of codes in the new classification.
The ICD-10 coding transition has many in the healthcare business concerned. At the top of that list of concerns is how the new coding classifications will affect reimbursements.