Healthcare providers that were diligently working toward the October 1, 2014, ICD-10 implementation deadline aren't the only ones hurting from the one-year delay in the code transition. Information technology companies were also counting on the revenues associated with their customers' ICD-10 preparations and this loss of business is impacting their bottom lines.
IT solutions and services vendor CTG this week announced its financial results for the first quarter of 2014 and revised its full year guidance based on the ICD-10 delay. During an April 22 conference call, the Buffalo, N.Y.-based company said that for several quarters its ICD-10 business has been growing as the October 2014 conversion deadline approached, but now that the date has been unexpectedly postponed by at least a year that business is drying up.
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