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ICD-10 Delay: what now?
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ICD-10 Delay: what now?
© CureMD Healthcare
ICD-10• The newly promulgated Act will now prohibit the Centers for
Medicare and Medicaid Services (CMS) from enforcing the switch from ICD-9 to ICD-10 before October 1, 2015, a system already in use by many other countries around the world
• Many in the healthcare industry have already spent hefty sums to meet the October 1, 2014 deadline, which was just over 5 months away
• They are well into their transition towards ICD-10 and are now in a limbo whether or not they should continue their “dual coding efforts”
• However, for small providers in the industry – who were not prepared for the switch – this could actually be a blessing in disguise as they will have more time to prepare
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• In addition to being left in the dark about ICD-10’s future, there are financial implications as well
• The delay will cost between $1.1 billion to $1.6 billion, according to CMS, which provided those estimates in 2012 when the ICD-10 switch was delayed by a year to 2014
• Organizations expect to spend an additional 10% to 30% because of the delay
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• The law only prevents CMS from enforcing a mandate so some of the important questions to be asked right now include:– Is October 1, 2015 the new deadline to switch over to?– Will CMS allow voluntary switching for providers who are
ready? – Will they skip over ICD-10 for ICD-11 which is already
scheduled for 2017?– Will CMS go ahead with the end to end ICD-10 testing it
announced last month?
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• CIOs at hospitals, insurance companies, healthcare companies and health IT vendors are not entirely ready to lose the momentum they had built towards meeting the fall deadline, but they are also looking for more clarity from the lawmakers before they proceed
• CIOs at hospitals, insurance companies, healthcare companies and health IT vendors are not entirely ready to lose the momentum they had built towards meeting the fall deadline, but they are also looking for more clarity from the lawmakers before they proceed
Read more on blog.curemd.com
• To read more on this topic, visit:• http://blog.curemd.com/icd-10-delay-what-now/
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