Navicure recently sponsored a nation-wide survey asking physician practices about their ICD-10 preparedness. The survey confirmed many issues that are being discussed around the industry today. Specifically, practices are concerned about ICD-10, however 33% haven’t even started preparing for the transition to the new code set. Of those practices that have started preparing, 21% already feel they are behind.
The survey also found that practices consider training (45%) and lack of payer readiness (30%) to be the biggest ICD-10 challenges. Further, 52% of practices indicated they are most concerned about disruptions to cash flow once the new code set goes into effect.
While ICD-10 is a major transition that is going to impact the entire industry and will take a significant effort from every organization in healthcare, there is still time to prepare – but you need to start now. The complete Physician Practice ICD-10 Readiness Survey: Seven Key Findings and Action Items, summarizes other key survey findings and action items practices can take to get ready for ICD-10, including:
- What steps to take to jump start or restart your ICD-10 preparations
- When staff members should be trained
- How to mitigate cash flow disruptions following the Oct. 1, 2014 implementation date
If you’d like to view the complete survey results, analysis and recommendations, click here to download your free copy today.