ICD-10 (International Classification of Diseases version 10 developed by the World Health Organization or WHO) code set has the potential to bring new analytical capability to pharmaceutical and medical device companies eager to improve efficiency and to differentiate themselves in the new regulatory economy. Today’s pharmaceutical and medical device company analytic capabilities are not sufficient [...]
ICD-10 transition has several impacts that many health plans and health care providers will not consider, unless they are doing a comprehensive assessment of all systems and processes. If ICD-9 diagnosis coding (ICD-9 CM) and ICD-9 procedure codes are included in the workflow.
Delaying ICD-10, AMA believes will help preserve its relevance, and its control over physician compensation. Sadly it seems that AMA hasn't served its own members well, or the healthcare industry. ICD-11 won't "arrive" in a year or two. Our health system needs to digest it and then determine when and how to move to it. While ICD-11 has some intriguing benefits, it is a long way off. The base version from WHO is expected in May 2015. After that, the United States will probably need another two years for development of the US version. The earliest it would be available for study would be 2017, and we would need another 4 years to implement it – so that brings us out to 2021, way too far in the future.
HIPAA 5010 and ICD-10 implementation timelines were published as widgets for payers, large providers, small providers and vendors by Health and Human Services Centers for Mediare and Medicaid (CMS). There are helpful items such as actions to take immediately, for HIPAA 5010 and more regarding ICD-10.
This is a first step toward implementation of an Affordable Care Act provision that cuts red tape in the health care system. HHS estimates this will save $12 billion over ten years. Whether a patient is eligible for coverage The status of a health care claim submitted to a health insurer
on November 22, 2010 the Obama Administration's regulation implementing new standards for the “medical loss ratio” provision of the Affordable Care Act will make the insurance industry more transparent and is intended to enable consumers to purchase health insurance that provide more value for every dollar paid for premiums.
Implementing ICD-10 is more than just IT. Medical management under ICD-10 will require a new view of clinical data and an audit trail from ICD-9 to ICD-10. An ICD-10 assessment from a knowledgeable company can help show where opportunities are for your company.
"Some venture-backed companies that serve hospitals and health insurers are getting a boost from what analysts call the “Y2K” of health care. [ ICD10 ]
Sensationalism creates a sense of temporary urgency to know more. Mubarek steps down, Lady Gaga is #1, however, in health care reform more than 50% of all health care companies in the U.S. are not prepared for a new reimbursement system called ICD-10. This is a slow steady march to what could be a sensational event in the future. If a large percentage of health insurance firms and hospitals cannot submit or process claims in the new medical coding system, then it could lead to the next Federal bailout - but this time in health care not financial services.
Although no official word has been handed down regarding exactly what fines our federal government may slap against healthcare organizations that fail to comply with HIPAA 5010 or ICD-10, it appears likely that there will be fines, and they will be sizable. via Concern persists for HIPAA 5010, ICD-10 non-compliance fines | Healthcare Finance News.
During our year-end strategic planning session we broadened our company's footprint to more accurately describe what we do. We explain the current market landscape and how we as well as our name fit into the health care business. "Today the health care delivery system creates siloes that do not efficiently work together to control cost [...]
The law's requirement for most Americans to carry insurance is unconstitutional, and is not within Congress' power to punish American citizens who do not comply. That was the decision by Federal Judge Hudson. Ken Cuccinelli, Virginia’s attorney general filed a law suit against the federal government on behalf of the State of Virginia. It is [...]