For Hospital CFOs, ICD-10 Delay a Costly Disappointment
Dudley says the setback will also prevent provider organizations from benefitting from the greater specificity that ICD-10 promises to deliver, which could be used to identify clinical outliers in order to improve care and bring down costs.
"I think that one of the lost opportunities is that with ICD-10 we will be able to drill down a little more deeply in terms of what is actually costing the most and the variances between one facility versus another, so again there is a missed opportunity there," he says.
Losing physician engagement
Mary Ann Freas, vice president and CFO at Southwest General Health Center, a 358-bed institution in Middleburg Heights, OH, says she is "disappointed" with the decision to delay and is especially concerned it will have a negative impact on physician buy-in around the new coding protocols.
"Our organization has spent many hours and dollars preparing for the ICD-10 transition," she says. "We are in danger of losing momentum, particularly when it comes to physician engagement. This will be the second time the implementation has been delayed, and we are beginning to look like Chicken Little. Physician engagement is key to a successful transition, particularly since the single largest risk to successful implementation relies on additional physician documentation… If we are able to engage [physicians] in documentation needed for ICD-10 coding, the world will be perfect. However, to them, time is money, and the extra time it will take to educate themselves and to add the required additional documentation specificity may not be worth the effort."
- EHR Systems 'Immature, Costly,' AMA Says
- Better HCAHPS Scores Protect Revenue
- CEO Exchange: Preparing for Population Health
- Narrow Networks Cut Costs, Not Quality, Economists Say
- Advocate, NorthShore Deal Would Create 16-Hospital System
- 3 Strategies for Retaining Millennial Employees
- Interstate Medical Licensure Effort Advances
- 'Early Offer' Malpractice Programs May Spur Reform
- How to Build a Health Plan from Scratch
- Limiting choice to control health spending: A caution