A recent survey revealed two-thirds of organizations cannot access their information assets or find vital enterprise documents because of poor information classification or 'tagging'. Having difficulty accessing your information or in short, with findability, is a fixable problem.
This is not a time to be subtle. That is what Stephen M. Stewart, CIO of Iowa-based Henry County Health Center, writes in Hospitals & Health Networks, this week. Steward was referring to the importance of impending ICD-10 classification transition.
In a recent survey of healthcare payers, 35% of respondents listed cost or return on investment as their top concern with implementing new, organization-wide IT systems. This is even more disconcerting as many health insurers will need to upgrade their IT infrastructure in the next few years to meet mandates such as the ICD-10 classification transition that is due by October 2013.
Healthcare organizations are scrambling to upgrade their systems to prepare for the ICD-10 classification transition. The Department of Health and Human Services have required providers to transition to ICD 10 codes on or after October 1, 2013. Millions of dollars are being spent to prepare for this with software and training.
In the world of healthcare, few things have been or will be more challenging or all encompassing as the ICD-10 transition. Healthcare organizations have a huge project on their hands and we wish them great success. However, the good news is ICD-10 could be considered an economical stimulator for the world of technology. More healthcare information technology vendors offer ICD-10 compliant upgrades and products each and every day.
Adara Networks is targeting healthcare for its next virtualization challenge. With their history of providing IT services to the Departments of Defense and Veterans Affairs, Adara is looking to move their enterprise service buses, which allow compatibility among software applications, to the healthcare field.
Healthcare reimbursement is a complex system as it stands. With the new evolving transition of the medical coding to the ICD-10 classification system, it will be even more complex.
ICD-9 has been the system used for almost 40 years. Coming in October 2013, things will change. The new ICD-10 coding classification system will be in effect with five times the amount of medical codes for healthcare providers to use and diagnosis codes with more digits. Before the billing systems can accommodate the expanded field length for diagnoses, a new format system for electronic billing needs to take place first. This is scheduled to happen in just a few days on January 1, 2012.
The impending ICD-10 transition requires a large scope of work. Organizations that have begun implementing their ICD-10 readiness strategy realize this, others who are farther behind in the process are quickly understanding the challenge that awaits them. One thing is for sure, when it comes to ICD-10, a team effort is required.
Millennium HealthCare has appointed Marc Sherman, MD to the Company Advisory Board. Dr. Sherman has an impressive resume including his current position as the Medical Director of Heartbeat Medical PC, one of the largest cardiology groups in the New York area.