ICD-10 ranked above accountable care organizations and upgrading patient billing systems as a top financial information technology priority for healthcare practices, according to the survey. Eighty-seven percent of participants expect to be ready by the Oct. 1, 2014, deadline.
The survey also reported 33 percent of providers do not know how much has been invested in ICD-10; 13 percent invested $1 million to $4 million; and 3 percent invested more than $5 million. These financial estimates are lower than last year’s, according to HIMSS, and the drop could be attributed to conversion costs being lower than anticipated.
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