- Posted by Austin Swim
- On March 27, 2015
- 0 Comments
The ICD-10 transition has already been delayed a year past it’s original date scheduled for October 2014, to October of this year. That being said, with transition into ICD-10 further delays will be frivolous and costly according to some experts.
The entire Healthcare industry and mental health community are anxiously awaiting the ICD-10 transition, as mandated by HIPAA. Both, billers and providers have long appreciated the similarities and easy transition between the current DSM diagnostic codes, used by treatment centers, and ICD-9, used by billing companies. Therefor, the upcoming changes have caused some hesitation due to the expansive time and resources needed to implement.
However, ICD-10 has many benefits making the transition worth the initial investment; including more specificity of diagnosis for more accurate data and less second guessing. The ICD-10 transition has already been delayed a year past it’s original date scheduled for October 2014, to October of this year. That being said, with transition into ICD-10 further delays will be frivolous and costly according to some experts.
– Missed our initial ICD-10 transition review? –
Billers and Providers Are Ready for the Launch of ICD-10 on Oct. 1
A Peer60 report says 58% of all administrators, and upwards of 70% of IT staff, view the implementation as a top priority for their organization. This suggests that organizations have been planning diligently for the technical undertaking for some time now. A recent spot check on the industry also proves this point further, the industry is ready to proceed with the new code set.
Last month, the Centers for Medicare and Medicaid Services(CMS) completed successful ICD-10 testing, which included as many as 660 providers and billing companies. Successful testing in February proves that any hiccup in the process that results in postponing the launch date may be a costly decision. One close call concerning medicare legislation could have done just that.
Legislation within the medical space, such as updates to Medicare, hasn’t yet affected the timeline past October 1st but things could change. More specifically, Medicare physician reimbursement talks, which started March 24th, could have underhandedly affected the October 1st 2015 deadline according to an article by Health Data Management. The article points out that circumstances may change dependent upon future talks.
Thousands to Millions of Dollars Already Spent on Preparation
Another delay of the ICD-10 code launch could prove to be a sizeable blow to organizations, of any kind, planning for the transition. Depending on the size of the organization, costs for implementation range from several tens of thousands of dollars to millions of dollars to start.
Any additional wait time would further complicate implementation. Additional work, such as having to retrain employees and reconfigure systems, can increase unnecessary costs for healthcare organizations of any size. According to iHealthBeat last year, the Dept of Health and Human Services( HHS) estimated that the cost of delaying ICD-10 for HIPAA-covered organizations ranged from 1.1 billion to 6.8 billion dollars.
We do not know if further legislation will impact the date of ICD-10 deployment, but it remains to be determined if the resulting costs would outweigh the benefits. Millions of dollars have already been spent and organizations, as well as their employees, would be affected by another delay.