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ICD-10: Providers can recoup millions of dollars in lost revenue by analyzing claims denials, data …
Advanced analytics and machine learning technologies are critical to pinpointing problems in large datasets that could be losing providers money. That’s why some organizations are investigating every single denied claim to better understand trends.
It has happened before: Y2K and HIPAA 5010 brought preliminary cataclysmic predictions that fizzled once the deadline arrived. ICD-10 just might follow suit.
What to make of the newest Congressional wrangling over the conversion to ICD-10 and the rekindled debate that has followed. Also: the one thing healthcare executives should be doing right now.
At least one major vendor disputes the fear that software won't be ready. But it's still too early to tell whether smaller computer-assisted coding, EHR, practice management and revenue cycle software makers will arrive at ICD-10 on time -- and what will happen if they don't.
Averill discusses the surprising resistance to ICD-10, widespread misperceptions, how another delay could enter the legislative discourse, and reasons that physicians are not dying to their hands on the coming code set's more granular data.
Addressing widespread concern about meeting the ICD-10 mandate, athenahealth said it will not only guarantee compliance but also help customers track progress and "backstop the revenue cycle" if need be.
In a three-phase project, the vendor will build a methodology for defining processes to move electronic transaction standards to a future version.
ICD-10 experts say the one-year implementation delay doesn't allow organizations to relax their transition efforts. It is for this reason that a day-long ICD-10 Symposium will be offered on Sunday, March 2 at HIMSS13.
Despite delays, and billing glitches, progress is being made on the conversion. And there are benefits to the HIPAA 5010 mandate that healthcare entities will reap once they comply.
Heather Haugen, vice president of research at the Breakaway Group, a Xerox subsidiary, discusses some opportunities created by the ICD-10 delay in terms of clinical documentation and alignment with EHRs, controlling coders' learning curves and addressing anticipated productivity loss following the compliance deadline.