The Healthcare Information and Management Systems Society has released an online tool designed to help health care providers evaluate the financial risks related to transitioning to ICD-10 code sets, NextGov reports (Pulley, NextGov, 7/2).
Background
U.S. health care organizations are working to transition from ICD-9 to ICD-10 code sets to accommodate codes for new diseases and procedures. The switch from ICD-9 to ICD-10 code sets means that health care providers and insurers will have to change out about 14,000 codes for about 69,000 codes.
In April, HHS announced that it would delay the deadline for complying with ICD-10 standards by one year, to Oct. 1, 2014. HHS said it decided to push back the compliance date partly in response to health care providers' concerns that they would not be able to meet the initial deadline (iHealthBeat, 6/4).
About the Online Tool
The HIMSS ICD-10 Task Force developed the ICD-10 PlayBook and Financial Risk Calculator with Jvion, a provider of health care compliance technology and services (Irving, PhysBizTech, 6/27). The tool provides:
• A financial survey of issues related to the ICD-10 transition;
• A calculator for how the ICD-10 shift could affect cash flow, operational cost and revenue;
• Information allowing similar types of health care providers to compare their ICD-10-related financial risks;
• Recommendations for how health care providers could reduce their ICD-10-related financial risks; and
• A guide to converting to ICD-10 code sets (NextGov, 7/2).
iHealthBeat, Tuesday, July 03, 2012