Business Strategy: ICD-10 Contingency Planning Critical Part of Planning Process for Providers
|Authors:||Cynthia Burghard, Janice W. Young, Judy Hanover|
|Document Type||Business Strategy|
|Number of Pages||10|
This IDC Health Insights report details the progress of providers toward the ICD-10 conversion deadline of October 1, 2013. The tsunami of initiatives on the desks of healthcare provider executives has placed ICD-10 in contention with other initiatives for priority. Only 48% of executives indicated ICD-10 conversion was a top priority. Some organizations are under the impression that ICD-10 conversion is an issue only for the technology. With the deadline for conversion only two years away, there is a greater-than-average likelihood that either the provider organization or one of its vendors or trading partners will not be ready for the October 1, 2013, deadline. Even if all stakeholders are able to meet the deadline, there are significant implications for provider organizations. With an estimated 50% drop in coder productivity and the likelihood of increased claims denials, it is imperative that providers plan and create contingencies for what will undoubtedly be cash flow slowdowns.
According to IDC Health Insights Research Director Cynthia Burghard, "It is not too early to begin contingency planning across the enterprise. Even if all stakeholders are compliant with the October 1, 2013, deadline, there are wide-ranging implications for provider organizations."
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