Are you too busy to take a hard look at your operations to be able to make the changes needed to make the impact your practice needs to be really financially and operationally robust? Are you putting off inevitable decisions because daily routines do not give you the thinking time you need? Are you keeping a “warm body” on payroll because of the hassle? Do you know what changes need to be made but don’t have the determination to really make them?
“Chief Strategy Officer”, an interesting title. And in these unsure times, may be just what healthcare practices need. Everyone is under the pressure of what will happen next…..how do we capitalize our strengths…minimize our weaknesses, deal with the healthcare exchanges, satisfy patients, make more money for providers and convert to ICD 10….all while increasing our dependence on technology…expensive technology.
Although October 14, 2014 is almost a year away; it is amazing how many practices and hospitals still do not yet have a plan for conversion from ICD 9 to ICD 10. Some have likened the conversion no less important or with similar unknowns as 1999 to 2000 conversion.
In a recent article, there were some bold, but accurate, statements made in regard to the changes within the healthcare industry.
MMS has the latest news alert from CMS regarding ICD-10! Last Friday, the Centers for Medicare & Medicaid Services (CMS) finalized its proposal to delay ICD-10 one year from Oct. 2013 to Oct. 2014. The one-year delay of ICD-10 is in response to continued concerns from MGMA that adoption of the new code set will prove extremely challenging to physician practices. Despite the additional year for implementation of ICD-10, MGMA remains concerned that CMS has mandated this new code set without having done the necessary due diligence to ensure physicians will not experience debilitating cash-flow disruptions. The rule also finalizes a plan to implement a national health plan identifier, required under the Patient Protection and Affordable Care Act of 2010. For more information see the CMS press release.
original posting:MGMA Washington Connexion 8/24/12
In recent months we have written several articles suggesting that the United States will more than likely look toward jumping streight into ICD 11 over ICD 10. In a recent article posted on www.physicianbiztech.com this is exactly what the AMA is proposing.
In a letter sent this week to Centers for Medicare & Medicaid Services Acting Administrator Marilyn Tavenner, Medical Group Management Association President Susan Turney reiterates the organization's position from March that the ICD-10 process, as currently outlined, lacks several steps.
I find it very interesting how the process continues to unfold. As practices are consumed with 5010 and EHR implementation, many still find time to worry about ICD-10 implementation scheduled for a year and a half from now!
In an announcement today from the Washington Connection of MGMA, CMS has announced they will delay enforcement of 5010 penalties until June 30, 2012.
If you have not begun to prepare for ICD-10, don't panic! Here is a "beacon of hope" to guide you. It is not too late to get your program in check to be as prepared as possible for the inevitable changes that are scheduled to occur in Oct 2013. Here I will share with you 5 steps you can take to get a basic plan in place.
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