Good news for small healthcare practitioners! A recent study indicates that the overall cost for small healthcare practitioners to migrate from ICD-9 to ICD 10 is relatively cheaper that what was predicted earlier. The study report, which was published in American Health Information Management Association’s official journal, is sure to trigger the pace of ICD 10 transition among small healthcare providers.
USA leads in ICD 10 Transition
After making a major amendment in its ICD 10 compliance policy, the World Health Organization stated that healthcare providers across the world could take a year of time to ensure complete compliance of ICD 10 coding system. The announcement was reflected as a cause of great relief for hundreds of healthcare providers across the world. However, many countries like the USA haven’t slowed down the pace of migration. Most of the healthcare providers in the USA are active in various types of ICD 10 Training programs.
According to experts who handle ICD 10 training programs, the transition will mean that healthcare providers are familiar with more than 69,000 new sets of codes against the 14,000 codes of ICD-9. In USA, the deadline to ensure ICD 10 compliance is 31st October 2015. However, the deadline for providers and payers falls earlier than this as per the recently issued mandate by CMS. They have to make the transition complete by 1st October 2015.
Details of the Report
In addition to shedding light on the trends of ICD 10 transition and its expenditure, the American Health Information Management Association has spent a good amount of time to draft out a perfect scheme for ICD 10 migration. The study found out that the expenditure of the ICD 10 transition does not merely lye on ICD 10 training and ICD 10 codes conversion tools but other aspects such as productivity in the initial phase, software upgrade costs, cost for conducting end-to-end testing and the bill conversion expenses.
For the simplicity of analysis, the association took a small healthcare organization with three physicians and a couple of staffs for handling coding and other tasks as the ideal model. The findings of the study have been convincing and have received much positive feedbacks from healthcare providers.
ICD 10 transition is gaining momentum all over the world. American Health Information Management Association encouraged healthcare providers in the country to focus more on ICD 10 training as it could simplify work after the transition.