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With the nation focused on the looming fiscal cliff, it may be a good time to evaluate ICD-10’s financial impact on healthcare providers. In a recent post, Jvion examines the fiscal risks associated with ICD-10 and provides the steps necessary for providers to prepare for and avoid its negative impacts.
Atlanta, GA (PRWEB) November 29, 2012
While the shift to ICD-10 pales in comparison and reach to the looming fiscal cliff faced by the nation, it does pose a financial risk to providers who stand to lose millions because of the code conversion. “Providers can expect to see a 2-6% drop in revenues depending their type of business and case mix,” explained Surya Vadlamani, Jvion CIO and chief ICD-10 solution architect. “As providers develop their ICD-10 roadmap and prepare their conversion plans, there is a recognition that the shift will not be as ‘revenue-neutral’ as once thought. Organizations are acutely aware of the reimbursement variations that ICD-10 will cause and are looking for ways to avoid dips in revenues following October 2014.”
Many providers are taking a renewed, revenue-focused approach to ICD-10 to help address reimbursement risks. This tactic puts reimbursement variations at the heart of the conversion and prioritizes all activities by financial impact. According to Jvion, there are six major components to becoming revenue-focused:
For more information on Jvion’s ICD-10 financial risk assessment solution and how it can help providers prepare for and avoid negative reimbursement impacts, please visit http://www.jvion.com/revcore.html.
Jvion is a healthcare compliance technology and services organization with a full suite of tools to enable the ICD-10 conversion. The company serves providers and payers in all phases of the ICD-10 conversion process with a simple value proposition—by using Jvion’s tools and solutions, organizations can do more to reduce cost, mitigate risk, and optimize reimbursements with fewer resources and in a shorter time line. Please visit Jvion’s website at http://www.jvion.com for more information.
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