Failing to Prep for ICD-10 Will Cost You
Burke does not anticipate any issues with payer readiness. "At the moment, we have confirmation from all our major payers that they will be ready for the transition date," he says.
Many healthcare finance leaders have told me that one of the biggest challenges around ICD-10 is getting clinicians on board with the new level of specificity. NYU Langone is using its Clinical Documentation Excellence Program to achieve physician buy-in.
"We have been working closely with our physician champions and have been supported by senior clinical leadership," he says. "In general, physicians and mid-level providers have been receptive and understand that ICD-10 will require additional documentation. The education provided to clinicians is service- or specialty-specific, and we have ensured we have the support of our department chairs as we move forward reviewing documentation."
Although Burke feels confident in his organization's implementation plan, he says the task of streamlining and perfecting it is never done. "We are constantly looking at ways to mitigate risks associated with the potential loss of revenue and productivity," he says.
Which is exactly what every hospital and health system should spend the next year doing. Failing to prepare adequately for ICD-10 will prove costly, and no one can say they didn't see it coming.
- CMS Sets 2014 Pay Rates for Hospital Outpatient and Physician Services
- FDA hopes hospitals will switch to newly regulated pharmacies
- The 5 Biggest Healthcare Finance Trouble Spots
- Not-for-Profit Hospitals Find Opportunity Amid Uncertainty
- Nonprofit Hospital Outlook 'Negative' in 2014
- The Most Polarizing Topics in Healthcare IT
- Are ACOs Really Different from HMOs?
- How CPOE Will Make Healthcare Smarter
- Why You Should Involve Patients in Nursing Handoffs
- Rise of the Chief Strategy Officer