Fifty-seven percent of healthcare groups told Porter Research and Navicure they are not on track to be ready for the transition to ICD-10.
A Navicure report found 57 percent of healthcare groups feel they are not on track for October’s ICD-10 transition. Despite more than half of the respondents not being on track, 85 percent of them said they expect to be ready by the October 1 switch.
“It's also worth noting that other studies have found ICD-10 readiness a bit disconcerting,” Healthcare IT News explains, “larger providers are nearing readiness [while] their smaller brethren are likely to experience claims and cash flow disruption.”
According to iHealth Beat, 31 percent of respondents said clinical documentation improvement and coding requirements were among the most challenging aspects of the transition. In addition, 56 percent of respondents cited cash flow disruptions as their greatest concern. Thirty-five percent said they had not adjusted their revenue cycle in preparation for the transition.
“After conducting four ICD-10 readiness surveys over the past two years, Navicure is pleased to see progress in organizations’ preparations; however, we remain concerned. Too many organizations are still not equipped to successfully weather the transition,” said Jim Denny, co-founder and CEO of Navicure in an announcement.
“Even at this late stage, it is still not too late for organizations to make meaningful improvements to their 3 P’s — people, products and processes — to be as prepared as possible. These surveys, along with our own client surveys, have provided our team with insight on how we can still best help healthcare organizations through the transition.”