A new report from vendor research firm KLAS Enterprises, based on interviews with 163 provider organizations, finds less than 10 percent of respondents are halfway through their ICD-10 compliance work.
Most of the surveyed providers are still in the strategy/planning phase and many have not yet established a budget, according to KLAS. Some larger delivery systems are planning to spend tens of millions of dollars, with some mid-sized hospitals anticipating their cost to be several million dollars.
One provider told the firm that there is a feeding frenzy for consultants and the provider thought it would contract for help before the price for an assessment skyrocketed.
Sixty percent of interviewed providers are concerned with the ICD-10 readiness of their core clinical and financial vendors. Nearly half view their coding vendor as the most helpful in preparing them.
Vendors mentioned in the report, "ICD-10: Preparing for October 2013," include 3M, Allscripts, Cerner, Epic, GE Healthcare, OptumInsight (Ingenix), McKesson, Meditech, QuadraMed, Siemens, CPSI, Healthland, HMS, MedAssets, Accenture, The Advisory Board, AHIMA, Deloitte, HIM Consulting, J.A. Thomas, maxIT, Prescyse, and PricewaterhouseCoopers.
The price of the report is $980 for providers and $11,980 for others, available at klasresearch.com/reports.
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