Guest post by Mark Jahn, vice president, healthcare practice, Atrilogy Solutions Group.
Will your healthcare organization be ready for the Oct. 1, 2014, ICD-10 implementation date, as mandated by the Department of Health & Human Services? By now, most organizations should be in the middle of their ICD-10 implementation, or at least nearing the end of their assessment and planning.
Based on my ICD-10 industry knowledge, here are aspects of implementation your organization can expect to experience.
Where is my ICD-10 budget?
Many organizations will struggle to gain the right level of budget to make the ICD-10 transition successful. Most will likely have one budget cycle remaining, at most, before the ICD-10 go-live date. You’ll likely have to compete with other initiatives to secure funding.
However, what many organizations fail to realize is that 100 percent of their patient-related revenues are at risk if ICD-10 is not properly implemented and its risks mitigated. As a result, most organizations will not have budgeted enough for ICD-10 and did not allocate enough contingency to account for the unknowns of implementation.