Business Strategy: Strategies and Approaches to Provider Contingency Planning for ICD-10 Implementation
This IDC Health Insights report details the progress of providers toward the ICD-10 conversion deadline of October 1, 2015. A long history of false starts and delays has placed ICD-10 in contention with other initiatives for priority. Some organizations are under the impression that ICD-10 conversion is an issue only for the technology suppliers. With the deadline for conversion only six months away, there is a greater-than-average likelihood that either the provider organization or one of its vendors or trading partners will not be ready for the October 1, 2015, deadline. Even if all stakeholders are able to meet the deadline, there are significant implications for provider organizations. With an estimated 50% drop in coder productivity and the likelihood of increased claims denials, it is imperative that providers plan and create contingencies for what will undoubtedly be cash flow slowdowns.
According to IDC Health Insights Research Director Judy Hanover, "Providers starting ICD-10 planning at this late date will have problems with conversion and incomplete efforts at remediation. Even if all stakeholders are compliant with the October 1, 2015, deadline, there are wide-ranging implications for the revenue cycle as well as downstream uses of coded information like analytics in provider organizations."
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