ICD10 – Companies To Gain From Health Care’s ‘Y2K’ Problem

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ICD10 – Companies To Gain From Health Care’s ‘Y2K’ Problem

We have been working on educating various constituencies about health care information management standards and health care reform and today we were mentioned in the Wall Street Journal regarding ICD-10.

Writing for the WSJ, Brian Gormley writes, Some venture-backed information-technology companies that serve hospitals and health insurers are getting a boost from what analysts call the Y2K of health care. The problem is caused by a coming change in the coding system … the Centers for Medicare and Medicaid Services

[CMS] has mandated that they move from ICD-9 to ICD-10 by Oct. 1, 2013.”

The ICD-10 conversion isn’t the medical industry’s only problem.  …they have to update the electronic format they use to send claims back and forth—a shift from 4010A1 to 5010, a change that is mandated by Jan. 1, 2012, said Michael Arrigo, managing partner of No World Borders Inc., a consulting firm backed by Palos Verdes Venture Partners.”

You can read the full post on the Wall Street Journal here:

IT Companies Stand To Gain From Health Care’s Y2K Problem – Venture Capital Dispatch – WSJ.

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By | 2017-05-04T04:06:59+00:00 February 22nd, 2011|5010, ICD-10, ICD-10 Assessment, ICD-10 Implementation, ICD-10-CM, ICD10|0 Comments

About the Author:

Michael is Managing Partner & CEO of No World Borders, a leading health care management and IT consulting firm. He leads a team that provides Cybersecurity best practices for healthcare clients, ICD-10 Consulting, Meaningful Use of Electronic Health Records. He advises legal teams as an expert witness in HIPAA Privacy and Security, medical coding and billing and usual and customary cost of care, the Affordable Care Act and benefits enrollment, white collar crime, False Claims Act, Anti-Kickback, Stark Law, Insurance Fraud, payor-provider disputes, and consults to venture capital and private equity firms on mHealth, Cloud Computing in Healthcare, and Software as a Service. He advises self-insured employers on cost of care and regulations. Arrigo was recently retained by the U.S. Department of Justice (DOJ) regarding a significant false claims act investigation. He has provided opinions on over $1 billion in health care claims and due diligence on over $4 billion in healthcare mergers and acquisitions. Education: UC Irvine - Economics and Computer Science, University of Southern California - Business, Stanford Medical School - Biomedical Informatics, Harvard Law School - Bioethics.
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