Hospital Margins in Jeopardy as 5010, ICD-10 Deadlines Loom
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The American Health Information Management Association recommends providers seek to offset costs and potential losses associated with 5010 and ICD-10 through lines of credit, grants and incentive programs, donations, fundraisers, and limiting spending the months prior to the deadline to build up cash reserves.
“It’s always hard to warn people that something is coming, and unlike the [Medicare] reimbursement cuts, no one is lobbying their congressman about this one. But come January 1, there’s going to be a big reduction in your top-line revenues that no one is really talking about,” says Landes.
This article appears in the October 2011 issue of HealthLeaders magazine.
Karen Minich-Pourshadi is a Senior Editor with HealthLeaders Media.
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