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.
Revenue impact of ICD-10
Many health care leaders believe that their organizations have the move to the new medical coding standard ICD-10 under control. Then they attend a training session. "When we complete the training, many organizations are shell shocked," said an executive with a leading ICD-10 training firm. Most have completely under estimated the time, cost, and skills required to perform the ICD-10 conversion and implementation.
The recent passage of national health care reform legislation is an important milestone in the process of moving toward providing millions of Americans with access to health insurance. However, significant…
Physicians and hospitals each have a list of objectives to qualify for subsidies. For physicians, the goals include: Incorporate at least 50 percent of all lab tests in the electronic…
The significant increase in code classifications will affect how departments function within themselves, with each other and with outside organizations. As payers take the time to become educated about ICD-10 and 5010, it becomes clear that the impacts are not contained within one area of the business, such as claims.
ICD-10 Assessments should lead to actionable approaches using an ICD-10 Financial Risk Assessment, ICD-10 Business roadmap, ICD-10 training for coders, ICD-10 training for physicians, ICD-10 specialty training, ICD-10 vendor readiness,…
No World Borders believes that the clock is ticking on important implementation deadlines for electronic health care and claims compliance dates, and these changes only delay that process. Many health care companies are still asking “What is HIPAA 5010” when they should be asking “how fast can we implement HIPAA 5010.” The new EDI standard enables improved data and provides the foundation for the ICD-10 medical coding standard. These two initiatives have important implementation milestones. See www.noworldborders.com for more information on our home page.
Complilation of health care reform developments at the Federal and State level.
While at the WEDI conference in Austin, there has been some discussion about moving to the federally mandated ICD-10 code set not just for compliance, but for strategic advantage.