As the delay allows the additional time for preparation, it poses an important resource and financial impact on inventing entities in transition, according to the APMA.
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| ICD-10 Delay |
Officially
it has been declared that usage of ICD-10 code has been delayed till 2015.
President Barack Obama has signed the patch legislation of Medicare Sustainable
Growth Rate which means that physicians would be able to receive payments
according to the old formula of Medicare patients, also includes the delay of
ICD-10 implementation till October 1st, 2015. But definitely; the
delay would affect the industry generally.
Most
of the health care industry has spent a lot to meet with the deadline of
October 1, 2014. The current act which is now spreading, will prohibit the
Centers for Medicare and Medicaid Services to carry out the switch from ICD-09
to ICD-10 before October 1, 2015. This system is already used by most of the
countries all over the world and also the one which makes improvement in
diagnosis, specificity and care quality.
As
the delay is official, it is said by the CMS that the delay will cost between
$1.1 billion to $1.6 billion which provided the estimates in 2012 when the
switch of ICD-10 delayed till the year of 2014. Organizations are expecting
that the delay causes an additional spend of about 10% to 30%. Also the delay in
ICD-10 provides an additional time for preparation.
Options to Delay
Direct Methods
·
Incentives
·
Providing infrastructure
·
Direct funding
Indirect Methods
Implementation schedule
The
accurate and detailed reporting that reflects the difficult population CHCs
serve will be allowed by the ICD-10. Both the Physician Quality Reporting
System and Pay for Performance use diagnosis data for the measurement of incentive
payments plus the advantage plans of Medicare.
Modification
The
main concern is the increasing number of codes that are available in the new
system. Coders and physicians will not only require to learn the new format of
ICD-10 but also learn to rearrange the code book and spending most of the time
in researching options. Surely, that is an issue and productivity is to be
examined to avoid coding delays.
Cost
Cost estimates depend
on the IT system requirements, whether the EHR implemented or not. Although,
the total cost will not be known till the procedure is completed, it surely
will be a burden on the physicians.
CIOs at insurance companies, hospitals,
healthcare companies and the vendors of health IT are not completely prepare to
lose their built momentum to meet with the fall deadline, but also they are
searching for more clarity before they start.
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