Top Healthcare Buzzwords for 2014, Part 2
11. Coding Migration
By Oct. 1, all HIPAA covered entities will be expected to change all codes used to report medical diagnoses and inpatient procedures from ICD-9 to ICD-10, provoking a "coding migration," with all expected pitfalls, glitches and eventually, fixes.
This expensive transition is requiring massive amounts of training, losses of productivity for a time, and a lot of patience.
After ICD-10 is implemented, diagnoses specificity will be much more exact and codes will identify procedures and conditions that didn't exist when ICD-9 began in 1979.
Public health tracking will be more efficient, fraud may be reduced, and identification of unsafe products will mean they can more quickly be removed from the marketplace.
12. Moral Hazard
Used mainly in economics, this term applies to a situation in which a person is more likely to take a risk because he or she won't be affected by the costs of a negative consequence. The phrase is now being applied to healthcare in a variety of ways, one of which refers to people with health issues or a risky lifestyle who choose not to buy health coverage because the individual mandate penalty they'd pay through taxes the following year is less than their premiums.
If they eventually need expensive healthcare, society and providers along with government funding borne by society, will bear that cost.
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