Y2K Problem
"Some venture-backed companies that serve hospitals and health insurers are getting a boost from what analysts call the “Y2K” of health care. [ ICD10 ]
Sensationalism creates a sense of temporary urgency to know more. Mubarek steps down, Lady Gaga is #1, however, in health care reform more than 50% of all health care companies in the U.S. are not prepared for a new reimbursement system called ICD-10. This is a slow steady march to what could be a sensational event in the future. If a large percentage of health insurance firms and hospitals cannot submit or process claims in the new medical coding system, then it could lead to the next Federal bailout - but this time in health care not financial services.
If you are shopping for a tool for converting ICD-9 to ICD-10 diagnosis and procedure codes, make sure that you include subject matter experts in the area on your selection team, and create challenges for the vendors to overcome that represent real-world clinical scenarios - not canned demonstrations.
Although no official word has been handed down regarding exactly what fines our federal government may slap against healthcare organizations that fail to comply with HIPAA 5010 or ICD-10, it…
An Accountable Care Organization (ACO), is a physician-led entity – consisting of hospitals, primary care physicians, and specialists – responsible for managing the full continuum of care and accountable for the overall costs and quality of care for a defined population, that is partnered with their health plan. CMS mandates such as ICD-10 are separate from health care reform and were mandated before health care reform became law.
During our year-end strategic planning session we broadened our company's footprint to more accurately describe what we do. We explain the current market landscape and how we as well as…
The law's requirement for most Americans to carry insurance is unconstitutional, and is not within Congress' power to punish American citizens who do not comply. That was the decision by…
The U.S. Department of Health and Human Services and CMS provided incentives which will improve the top line reimbursements starting 2012, but to realize this benefit, HEDIS Star Quality Rating…
In light of new regulatory measures, health plans and providers need smart strategies comply with ICD-10 and the underlying EDI standard HIPAA 5010. An Assessment and Implementation plan developed by your in-house team in collaboration with experienced advisors is one good way to reduce the risk of spending more than you have to to meet these mandates by October 1, 2013.
No World Borders, Inc, a leading healthcare management and IT consulting company closed its second private equity investment round led by Palos Verdes Venture Partners (PVVP) based in Los Angeles, CA.
Medical management under ICD-10 will require a new view of clinical data and an audit trail from ICD-9 to ICD-10. Implementing ICD-10 is more than just an IT effort.
health care providers must be proactive in understanding a strategy to avert potential disasters in their reimbursement system. With the thin margins that most hospitals already operate on, we believe this will be one of the most important aspects of implementing ICD10. ICD-10 is not just a new diagnostic system of coding; it is more importantly a new reimbursement system.