Seven Stories To Help Start ICD-10 Work
This isn’t a naked pitch to access and read two fine recent stories and three blog essays on ICD-10 implementation by Health Data Management reporter Gary Baldwin and blogger Rajiv Sabharwal, with links down below.
This isn't a naked pitch to access and read two fine recent stories and three blog essays on ICD-10 implementation by Health Data Management reporter Gary Baldwin and blogger Rajiv Sabharwal, with links down below.
No, no, no. This is a naked pitch to augment the business intelligence that HDM has been serving on this critical issue with two outstanding stories in the new Journal of AHIMA from the American Health Information Management Association.
The cover story itself, "3 Short Years," isn't a long read, but a stark reality check on how far behind many organizations are in ICD-10 readiness and the consequences of rejected claims starting Oct. 1, 2013. A survey of 838 AHIMA members in April 2010 found 52 percent of responding organizations have not begun implementation of the HIPAA 5010 transaction sets--a precursor to ICD-10--or ICD-10 itself.
What's stunning about the cover story is its two-page timeline for the ICD-10 tasks to be done. Nine of the 12 steps in the timeline should have been started by January 2010 at the latest. Six of those steps are pegged as 14-month projects.
Following two beginning steps ideally taken in 2009, have you provided organizational awareness education, assessed the impact of ICD-10 transition on all operations, identified key tasks and objectives, assessed business associate readiness, assessed education and training needs, developed internal implementation timelines and required resources, and prepared an implementation budget? All that, according to AHIMA, should have begun last January and run through next March.
Staff writer Chris Dimick also includes a timeline on HIPAA 5010 preparations and most surveyed AHIMA members also are woefully behind on that work. By the end of 2010, organizations should complete internal testing of 5010 transactions, but 72 percent of April survey respondents had not started. And the Jan. 1, 2012, compliance date for the 5010 transactions is only 16 months away.
An accompanying story to the AHIMA cover focuses on budgeting for ICD-10. Consultant Tori Sullivan of Capgemini focuses on hardware, software, training, communications, contract support and loss of revenue/productivity.
Most of these cost sectors peak between 2011 and 2013 and sharply plummet after peaking. But loss of revenue and productivity starts rising in 2011 and may continue to rise a year after the compliance date before staff gain experience and productivity improves. "ICD-10 will have an impact on every organization's bottom line, requiring careful financial planning to stay out of the red," Sullivan warns. "Each year, funds should be added to a contingency reserve as a means of preparing for unexpected expenses, lowered revenue, and delayed reimbursement that the industry has forecasted."
The Journal of AHIMA cover story is available here, with the budgeting feature here.
HDM's recent ICD-10 contributions include:
Is ICD-10 the Industry's Wake Up Call?
ICD-10: Intensive Cash-flow Disruption
What Happens to Payouts and Reimbursements with ICD-10?
ICD-10 and Meaningful Use...The Twains Shall Meet, for Sure
To Crosswalk or Not to Crosswalk?
No, no, no. This is a naked pitch to augment the business intelligence that HDM has been serving on this critical issue with two outstanding stories in the new Journal of AHIMA from the American Health Information Management Association.
The cover story itself, "3 Short Years," isn't a long read, but a stark reality check on how far behind many organizations are in ICD-10 readiness and the consequences of rejected claims starting Oct. 1, 2013. A survey of 838 AHIMA members in April 2010 found 52 percent of responding organizations have not begun implementation of the HIPAA 5010 transaction sets--a precursor to ICD-10--or ICD-10 itself.
What's stunning about the cover story is its two-page timeline for the ICD-10 tasks to be done. Nine of the 12 steps in the timeline should have been started by January 2010 at the latest. Six of those steps are pegged as 14-month projects.
Following two beginning steps ideally taken in 2009, have you provided organizational awareness education, assessed the impact of ICD-10 transition on all operations, identified key tasks and objectives, assessed business associate readiness, assessed education and training needs, developed internal implementation timelines and required resources, and prepared an implementation budget? All that, according to AHIMA, should have begun last January and run through next March.
Staff writer Chris Dimick also includes a timeline on HIPAA 5010 preparations and most surveyed AHIMA members also are woefully behind on that work. By the end of 2010, organizations should complete internal testing of 5010 transactions, but 72 percent of April survey respondents had not started. And the Jan. 1, 2012, compliance date for the 5010 transactions is only 16 months away.
An accompanying story to the AHIMA cover focuses on budgeting for ICD-10. Consultant Tori Sullivan of Capgemini focuses on hardware, software, training, communications, contract support and loss of revenue/productivity.
Most of these cost sectors peak between 2011 and 2013 and sharply plummet after peaking. But loss of revenue and productivity starts rising in 2011 and may continue to rise a year after the compliance date before staff gain experience and productivity improves. "ICD-10 will have an impact on every organization's bottom line, requiring careful financial planning to stay out of the red," Sullivan warns. "Each year, funds should be added to a contingency reserve as a means of preparing for unexpected expenses, lowered revenue, and delayed reimbursement that the industry has forecasted."
The Journal of AHIMA cover story is available here, with the budgeting feature here.
HDM's recent ICD-10 contributions include:
Is ICD-10 the Industry's Wake Up Call?
ICD-10: Intensive Cash-flow Disruption
What Happens to Payouts and Reimbursements with ICD-10?
ICD-10 and Meaningful Use...The Twains Shall Meet, for Sure
To Crosswalk or Not to Crosswalk?
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