Implementing healthcare reform measures impact every aspect of healthcare operations. In January 2009, HHS published the proposed rule mandating all U.S. healthcare providers to migrate to ICD-10 medical diagnosis codes by October 1, 2013. However, to be ICD-10 compliant, organizations must also have transitioned from the Health Insurance and Portability and Accountability Act (HIPAA) 4010 transaction code set to HIPAA 5010 transaction code set. Many provider organizations are woefully behind the recommended timelines for 5010, and health plans are now gearing up to launch their ICD-10 efforts.
Completing either one of these projects is a substantial feat. Together they mark the largest and most complex healthcare initiative in three decades since they touch nearly every aspect of healthcare spending. However, by examining the impact ICD-10 has on healthcare organizations, it becomes clear that compliant organizations that make the appropriate and necessary investments will bear the fruit of their labors. Ultimately, organizations that are eager to upgrade and be compliant know that their bottom line will be the ultimate benefactor.
Download our new white paper, “Implementing ICD-10: Hard Work Brings Rewards“ to learn more about this topic. You can also visit our Regulatory Compliance page on the healthcare microsite for more content on this topic.
Also, you can register for our upcoming webinar “Opportunities Abound: How to Leverage Increased Data Granularity in the ICD-10 Code Set” and receive a free copy of the Harvard Business Review Article, “How to Solve the Cost Crisis in Health Care” by Robert S. Kaplan and Michael E. Porter along with a copy of this new ICD-10 white paper.
