ICD-10 Implementation – Are You Ready?
The transition to ICD-10 has been hotly debated and twice delayed, most recently in April 2014, as explained in a previous BNN article. However, regardless of your personal opinions, the past two weeks have seen several developments regarding the ICD-10 implementation deadline of October 1, 2015 that should be watched closely.
ICD-10 refers to the next (10th) revision of the International Statistical Classification of Diseases and Related Health Problems, a standardized medical classification list used by health care providers, analysts and claims processors in many countries to classify and code symptoms, procedures and diagnoses.
Following a report released on February 6th by the Government Accountability Office (GAO) examining the efforts by the Center for Medicare & Medicaid Services (CMS) to prepare for the ICD-10 transition, Senators Ron Wyden and Orrin Hatch, ranking members of the Senate Finance Committee, issued a joint statement that no more extensions are expected on the ICD-10 implementation deadline of October 1, 2015.
On February 11, The House Energy and Commerce Committee’s subcommittee on health held a session in which seven healthcare industry professionals, representing vendors, insurance companies, and IT experts, testified on whether the ICD-10 implementation should be delayed, kept on schedule, or abandoned. The majority of participants called for no more delays, while only one participant called for the transition to ICD-10 to be abandoned.
What can be taken away from these events is the deadline for the ICD-10 transition currently remains October 1, 2015. Members of the healthcare industry should take note and reexamine where their organization stands in this changeover and plan accordingly. A checklist of recommended steps may be found in our previous article.
For help assessing where your organization stands on the above matters or for project management assistance, please contact Ilona Davis or your BNN advisor at 1.800.244.7444.
Disclaimer of Liability: This publication is intended to provide general information to our clients and friends. It does not constitute accounting, tax, investment, or legal advice; nor is it intended to convey a thorough treatment of the subject matter.