Close
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
Read Down
Sign in
Close
Welcome!Log into your account
Forgot your password?
Read Down
Password recovery
Recover your password
Close
Search
Logo
Logo
  • Latest News
  • Big Data and Analytics
  • Cloud
  • Networking
  • Cybersecurity
  • Applications
  • IT Management
  • Storage
  • Sponsored
  • Mobile
  • Small Business
  • Development
  • Database
  • Servers
  • Android
  • Apple
  • Innovation
  • Blogs
  • PC Hardware
  • Reviews
  • Search Engines
  • Virtualization
More
    Home IT Management
    • IT Management

    Hospitals Make 2015 Preparations for ICD-10

    By
    Nathan Eddy
    -
    August 11, 2014
    Share
    Facebook
    Twitter
    Linkedin

      Nearly one-quarter (24 percent) of hospitals now outsource clinical documentation audit, review and programming, and by the third quarter of 2015, 71 percent of hospitals plan on having an international classification of diseases (ICD) services partner help them adjust and survive under the new codes, according to a Black Book survey of 650 hospital technology and physician leaders.

      The ICD-9 code, which was set more than 30 years old, has become outdated, and is no longer considered usable for today’s treatment, reporting and payment processes, according to the American Medical Association.

      The ICD-10 code set reflects advances in medicine and uses current medical terminology, and the code format has been expanded, which means that it has the ability to include greater detail within the code.

      As the national conversion to the new coding set was pushed back a year from October 2014 to October 2015, the new coding set addresses both the physician’s needs for health care delivery and facilitates the accurate reimbursement for medical services required, not necessarily those services rendered.

      It is estimated that the change in coding will financially impact unprepared small hospitals in the millions of dollars, and large hospital and chains in the billions of dollars, Doug Brown, managing partner of Black Book, told eWEEK.

      “The requirement to document to code rather than document for clinical reasons is a chief complaint of 88 percent of physicians regarding ICD-10,” he said. “Many facilities still lack a bridge between clinical language and coding language, and the learning curve after October 2015 may financially cripple some practices and hospitals.”

      The vast majority (88 percent) of 200-plus bed hospitals outsourcing CDI currently report to have realized significant (more than $1 million) gains in appropriate revenue and proper reimbursements following the implementation of clinical documentation improvement program yet before ICD-10.

      In 2014, 81 percent of all physicians and nearly all hospitals (94 percent) are in the final stages of electronic health records implementation, which in turn has produced a capability for storing and delivering transcribed medical records.

      Additionally, reimbursement reforms are effecting a greater demand for extensive medical documentation for insurance payments and new models of bundling reimbursements among providers.

      “This has caused a shortage in local transcriptionists in U.S. communities and forcing physicians and medical facilities to seek offshore services,” Brown explained. “The Philippines, India and Pakistan are filling much of the demand, however, 93 percent of U.S. physicians and 88 percent of U.S. hospital executives surveyed state they prefer their medical transcription remain in their local communities if possible.”

      Brow also noted lower costs offshore have also made outsourcing attractive to those that can not find local resources–approximately one-twelfth of medical transcription services is currently performed in India.

      “Progress in technologies has played a major role in outsourcing coding. With encryption and verification processes, the confidentiality of patient information is securely communicated and identity protection is assured,” he said. “Breaches in patient confidentiality have been very minor as far as coding outsourcing vendors and systems have been concerned, particularly among large vendors.”

      Nathan Eddy
      A graduate of Northwestern University's Medill School of Journalism, Nathan was perviously the editor of gaming industry newsletter FierceGameBiz and has written for various consumer and tech publications including Popular Mechanics, Popular Science, CRN, and The Times of London. Currently based in Berlin, he released his first documentary film, The Absent Column, in 2013.

      MOST POPULAR ARTICLES

      Cybersecurity

      Visa’s Michael Jabbara on Cybersecurity and Digital...

      James Maguire - May 17, 2022 0
      I spoke with Michael Jabbara, VP and Global Head of Fraud Services at Visa, about the cybersecurity technology used to ensure the safe transfer...
      Read more
      Cloud

      Yotascale CEO Asim Razzaq on Controlling Multicloud...

      James Maguire - May 5, 2022 0
      Asim Razzaq, CEO of Yotascale, provides guidance on understanding—and containing—the complex cost structure of multicloud computing. Among the topics we covered:  As you survey the...
      Read more
      Big Data and Analytics

      GoodData CEO Roman Stanek on Business Intelligence...

      James Maguire - May 4, 2022 0
      I spoke with Roman Stanek, CEO of GoodData, about business intelligence, data as a service, and the frustration that many executives have with data...
      Read more
      Applications

      Cisco’s Thimaya Subaiya on Customer Experience in...

      James Maguire - May 10, 2022 0
      I spoke with Thimaya Subaiya, SVP and GM of Global Customer Experience at Cisco, about the factors that create good customer experience – and...
      Read more
      IT Management

      Intuit’s Nhung Ho on AI for the...

      James Maguire - May 13, 2022 0
      I spoke with Nhung Ho, Vice President of AI at Intuit, about adoption of AI in the small and medium-sized business market, and how...
      Read more
      Logo

      eWeek has the latest technology news and analysis, buying guides, and product reviews for IT professionals and technology buyers. The site’s focus is on innovative solutions and covering in-depth technical content. eWeek stays on the cutting edge of technology news and IT trends through interviews and expert analysis. Gain insight from top innovators and thought leaders in the fields of IT, business, enterprise software, startups, and more.

      Facebook
      Linkedin
      RSS
      Twitter
      Youtube

      Advertisers

      Advertise with TechnologyAdvice on eWeek and our other IT-focused platforms.

      Advertise with Us

      Menu

      • About eWeek
      • Subscribe to our Newsletter
      • Latest News

      Our Brands

      • Privacy Policy
      • Terms
      • About
      • Contact
      • Advertise
      • Sitemap
      • California – Do Not Sell My Information

      Property of TechnologyAdvice.
      © 2021 TechnologyAdvice. All Rights Reserved

      Advertiser Disclosure: Some of the products that appear on this site are from companies from which TechnologyAdvice receives compensation. This compensation may impact how and where products appear on this site including, for example, the order in which they appear. TechnologyAdvice does not include all companies or all types of products available in the marketplace.

      ×