ICD-10 delay will cost practices more money, survey says
More than half will reset ICD-10 implementation timelines
Prior to the recent International Classification of Diseases-10th revision (ICD-10) delay, many medical practices were well on their way to implementing the coding system and training their staff, according to a white paper by Part B News that surveyed almost 1,100 respondents on the impact of the ICD-10 delay.
More than 60% say that their practices had identified resources, created a project plan, and contacted vendors based off of the Centers for Medicare and Medicaid Services (CMS) timeline for preparing for ICD-10. More than 50% were working on training staff on coding and documentation.
The survey consisted mostly of practice managers and coding specialists who are either in charge of or a part of their organization’s ICD-10 transition teams. More than 35% of the respondents represented independent practices.
Thirty-one percent of survey respondents said they were disappointed with the ICD-10 delay because they were ready for the new system. Nearly 34% said that though they would have been ready for the October 2014 date, they are okay with the delay and appreciate the additional time. More than 20% of respondents say the delay is frustrating because physicians will want to put off training. Only 13.5% of respondents said they were happy because of the delay because their practice wouldn’t be ready.
The results of this survey vary drastically from a Medical Group Management Association report released in February that found fewer than 10% of respondents had made significant progress in implementing ICD-10, and 79% had not started or were only somewhat ready.
The Part B News survey found that many practices expect to spend more on ICD-10 preparations because of the delay due to additional training. So far, solo practices report having spent an average of $7,719 on ICD-10 preparations, with 75% of solo practices spending less than $5,000 on ICD-10 preparations. Practices with more than 100 physicians spent $42,592 on average; about 71% of those practices spent more than $50,000 on ICD-10 preparations.
Cost was one of the issues that drove the American Medical Association and others to call for an ICD-10 delay earlier this year. The association cited a survey that estimated that small practices could spend between $56,639 and $226,105 to implement ICD-10.
More than half of respondents say that they will reset the timeline on their current ICD-10 preparations, while more than 22% say they will continue on their current plan. Only 6% say they will create an entirely new plan.
CMS has yet to offer any guidance regarding the new ICD-10 deadline or any new compliance standards. Two months before the ICD-10 delay, Marilyn Tavenner, administrator of CMS said there would be no more ICD-10 delays.
MORE ARTICLES IN THIS ISSUE
More than 10,000 physicians have signed an online petition demanding that the ABIM repeal recent changes to its MOC process that petitioners say could cost physicians more time and money.
Lee Kim, JD, FHIMSS, director of privacy and security at HIMSS, answers five questions for physicians facing possible issues now or in the future arising from Heartbleed.
In recent months, close to 65 electronic health record (EHR) systems have been certified to meet Meaningful Use 2 criteria for complete EHR systems.
A new study casts doubt on whether the billions of dollars spent so far in meeting meaningful use requirements is actually improving patient outcomes.
The number of practices employing non-physician providers has increased in the past 15 years, and for many, it’s boosting the bottom line, according to a recent report from the Medical Group Management Association.