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.
More Articles on Coding, Billing and Collections:
Are Your Patient Payments Problematic? 7 Tips to Improve Collections
14 Recent Medicare, Medicaid Issues — Medicare ACOs, SGR & More
Former President Bill Clinton Calls for Healthcare Cost Transparency
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
