Different views are expected as to whether people think a change or update in procedure or technology, etc., will have a positive or negative effect on a company and its operations and finances.
The healthcare industry is in perpetual change, and that definitely applies to its IT systems and software. The latest change will be a switch in coding from ICD-9 to ICD-10, which will go into effect in October 2015. In light of the coming change, the American Health Information Management Association and the eHealth Initiative surveyed 349 providers on their views of ICD-10 and how they feel it would impact productivity, workflow, and revenues.
Answers to any change in revenue showed a disparity among respondents: 38% of providers thought it would decrease in the year subsequent to the ICD-10 conversion, while only 6% believed they’d see an increase.
Opinions also varied in respect to reimbursement efficiency, patient encounter documentation, and other items. Despite any negative outlook, the survey did reveal that more providers than expected are on the road to transition; 40% of respondents said they would be ready for end-to-end testing by this year’s end and another 25% ready by the end of 2015.
To help with the changeover, Centers for Medicare & Medicaid Services (CMS) will release a “national timeline” to all those impacted by ICD-10, such as providers, vendors, and payers. These kinds of industry-wide transitions are important and obviously have an impact on various aspects of a healthcare center and those it serves. Healthcare consultants, such as those with Serra Health, understand the industry as well as the IT systems that help run day-to-day operations. If you as a provider need help implementing to IT systems updates, Serra Health Consulting is here.
Read more information about the survey’s results, which were released in June, here.