OREM, UT, October 25, 2011 (Press-News.org) Less than ten percent of healthcare providers are over halfway there in terms of being fully prepared for ICD-10, according to the KLAS report, "ICD-10: Preparing for October 2013." While providers know a lack of preparation could result in a halt to reimbursements and a revenue cycle disaster when ICD-10 comes, KLAS found that most organizations are still in the strategy/planning phase of their preparation.
This is significant given that providers further down the path of preparation told KLAS that ICD-10 readiness is a complex and costly initiative--one that will require significant time and resources. One patient accounting director said, "We know there is a lot of work to be done. In our opinion, meaningful use is a cakewalk compared to ICD-10."
This research found that many providers have not yet established an ICD-10 budget. That said, feedback from more progressive organizations indicate ICD-10 won't be cheap. Some large health systems are planning to spend tens of millions of dollars on their ICD-10 preparation, while some mid-size hospitals are planning to spend several million. Some of the internal steps these providers have taken are developing a steering committee; creating a comprehensive ICD-10 readiness strategy; developing training plans for coders, physicians, nurses and other staff; assessing compliance and technology needs; and formulating a detailed budget.
Nearly two-thirds of providers in this study are engaging or planning to engage with third party firms to assist with one or more of these preparation steps. The report found that the majority of these providers currently engaging with firms do so for strategy and gap-analysis work; whereas, most providers planning to use a third-party firm in the future say they will do so for training their staff. Many providers are rushing to engage with firms, as demand for them is increasing. "It is a feeding frenzy for consultants," one healthcare provider told KLAS. "We thought maybe... we would get in there before the price for an assessment skyrocketed."
"ICD-10: Preparing for October 2013" also explored providers' greatest concerns regarding ICD-10, with internal organizational readiness--namely staff training and physician/nurse readiness--topping the list. It also found that 60 percent of providers were concerned about the ICD-10 readiness of their core clinical/financial vendor. Nearly half of those interviewed said they felt their coding vendor was their most progressive vendor in helping them prepare for ICD-10 readiness.
For this research KLAS interviewed 163 providers to understand their ICD-10 readiness strategy, major concerns, progress in preparing, confidence in their core and component vendors' ICD-10 readiness, and intentions for using third-party firms to assist them. Core vendors mentioned in this report are 3M, Allscripts, Cerner, Epic, GE Healthcare, Ingenix, McKesson, MEDITECH, QuadraMed, and Siemens. Other vendors mentioned are CPSI, Healthland, HMS, and MedAssets. Major third party firms mentioned are 3M, Accenture, Advisory Board, AHIMA, Deloitte, HIM Consulting, J.A. Thomas, maxIT, McKesson, Precyse, PwC, and QuadraMed.
To learn more about the ICD-10 readiness preparations of healthcare providers, as well as how vendors and third-party firms are helping them prepare, the report "ICD-10: Preparing for October 2013" is available to healthcare providers online for a significant discount. To purchase the report, healthcare providers and vendors can visit www.KLASresearch.com/reports.
KLAS is a research firm specializing in monitoring and reporting on the performance of healthcare vendors. KLAS' mission is to improve delivery by independently measuring vendor performance for the benefit of our healthcare provider partners, consultants, investors, and vendors. Working together with executives from more than 4500 hospitals and more than 2500 clinics, KLAS delivers timely reports, trends, and statistics that provide a solid overview of vendor performance in the industry. KLAS measures performance of software, professional services, medical equipment, and infrastructure vendors. For more information, go to www.KLASresearch.com, email marketing@KLASresearch.com, or call 1-800-920-4109 to speak with a KLAS representative. Follow KLAS on Twitter at www.twitter.com/KLASresearch.
Few Healthcare Providers are Prepared for ICD-10 Despite Ticking Clock
Complex and costly preparation takes time and requires significant resources; many providers plan to turn to third party firms for help.
2011-10-25
ELSE PRESS RELEASES FROM THIS DATE:
Dydacomp Launches Strategic Partnership with Web2Market
2011-10-25
Dydacomp, a leading provider of business technology platforms for eCommerce and multichannel merchants, today announced a strategic partnership with Web2Market, the leading provider of development, support and hosting for the AbleCommerce Web storefront software. This will enable users of AbleCommerce to connect to Dydacomp's Multichannel Order Manager (M.O.M.) software, creating a powerful end-to-end eCommerce solution.
The new partnership solidifies Dydacomp's recent commitment to open up M.O.M.'s full-featured order management and fulfillment platform to eCommerce ...
Gene variant increases risk of kidney disease in African-Americans
2011-10-25
African-Americans with two copies of the APOL1 gene have about a 4 percent lifetime risk of developing a form of kidney disease, according to scientists at the National Institutes of Health. The finding brings scientists closer to understanding why African-Americans are four times more likely to develop kidney failure than whites, as they reported in the Oct. 13 online edition of the Journal of the American Society of Nephrology.
Researchers including Jeffrey Kopp, M.D., at the NIH's National Institute of Diabetes and Digestive and Kidney Diseases and Cheryl Winkler, ...
Taking the pulse of charge-separation processes
2011-10-25
The use of organic photovoltaics for the production of electricity from sunlight offers an attractive and promising basis for an innovative and environmentally friendly means of energy supply. They can be manufactured quite economically and, because they are as bendable as plastic wrap, they can be processed flexibly. The problem is that they are yet markedly less efficient than conventional inorganic semiconductor cells. The most crucial process in the conversion of light into electric current is the generation of free charge carriers. In the first step of photoconversion, ...
Mechanical stress can help or hinder wound healing depending on time of application
2011-10-25
A new study demonstrates that mechanical forces affect the growth and remodeling of blood vessels during tissue regeneration and wound healing. The forces diminish or enhance the vascularization process and tissue regeneration depending on when they are applied during the healing process.
The study found that applying mechanical forces to an injury site immediately after healing began disrupted vascular growth into the site and prevented bone healing. However, applying mechanical forces later in the healing process enhanced functional bone regeneration. The study's findings ...
Huntington Beach Dentist Office, Oceanic Dental, Expands Adding 2 New Dentists
2011-10-25
Oceanic Dental, a Huntington Beach Dentist practice, expands and adds two Dentists to the team. The new Dentists bring a wealth of experience to complement the current team, making Oceanic Dental a truly world-class Dentist office in Huntington Beach.
Consistently reviewed on sites like Yelp! and Google with five-star ratings for offering affordable, quality general and cosmetic Dentistry in Huntington Beach, Oceanic Dental continually strives to improve the quality of care for their patients. The office began searching for additional Dentists to enhance their commitment ...
Gun traffickers exploit differences in state laws
2011-10-25
PROVIDENCE, R.I. [Brown University] -- Every state in America legislates its own gun laws, but not without significant spillover effects on nearby states, according to a new study by Brown University economist Brian Knight. In a National Bureau of Economic Research (NBER) working paper, Knight presents the first state-by-state gun flow analysis. The results indicate that illegal firearms flow from states with weak gun laws to states with strong gun laws, suggesting that traffickers are responding to differences in gun laws across the states.
Using gun tracing data from ...
RakeTheRake Gives Facebook Fans and Twitter Followers Free Poker Training
2011-10-25
RakeTheRake, the world's largest rakeback provider, constantly strives to provide its online poker players with the very best rakeback deals and the best overall return on their game. Today, and until Tuesday 15 November, they are offering exclusive free training content to all those who are fans of the RakeTheRake Facebook page of followers of RakeTheRake on Twitter.
This special Facebook and Twitter offer will give away four different training videos on Tuesdays until 15 November when visitors visit the social media sites. The videos are exclusive to fans and followers ...
Nanoparticles and their size may not be big issues
2011-10-25
EUGENE, Ore. -- If you've ever eaten from silverware or worn copper jewelry, you've been in a perfect storm in which nanoparticles were dropped into the environment, say scientists at the University of Oregon.
Since the emergence of nanotechnology, researchers, regulators and the public have been concerned that the potential toxicity of nano-sized products might threaten human health by way of environmental exposure.
Now, with the help of high-powered transmission electron microscopes, chemists captured never-before-seen views of miniscule metal nanoparticles naturally ...
Physical fitness could have a positive effect on eye health
2011-10-25
Rockville, MD -- Physical activity may be what the doctor orders to help patients reduce their risk of developing glaucoma. According to a recently published scientific paper, higher levels of physical exercise appear to have a long-term beneficial impact on low ocular perfusion pressure (OPP), an important risk factor for glaucoma.
Published in the Investigative Ophthalmology & Visual Science journal (Physical Activity and Ocular Perfusion Pressure: The EPIC-Norfolk Eye Study), this study examined the relationship between physical activity and current OPP in 5,650 men ...
WSU researchers demonstrate rare animal model for studying depression
2011-10-25
PULLMAN, Wash. - Washington State University researchers have taken a promising step toward creating an animal model for decoding the specific brain circuits involved in depression. By electrically stimulating a brain region central to an animal's primary emotions, graduate student Jason Wright and his advisor Jaak Panksepp saw rats exhibit a variety of behaviors associated with a depressed, negative mood, or affect.
"We might now have a model that allows us to actually know where to look in the brain for changes relevant to depression," says Wright, "and we can monitor ...
LAST 30 PRESS RELEASES:
Exercise as an anti-ageing intervention to avoid detrimental impact of mental fatigue
UMass Amherst Nursing Professor Emerita honored as ‘Living Legend’
New guidelines aim to improve cystic fibrosis screening
Picky eaters by day, buffet by night: Butterfly, moth diets sync to plant aromas
Pennington Biomedical’s Dr. Leanne Redman honored with the E. V. McCollum Award from the American Society for Nutrition
CCNY physicists uncover electronic interactions mediated via spin waves
Researchers’ 3D-printing formula may transform future of foam
Nurture more important than nature for robotic hand
Drug-delivering aptamers target leukemia stem cells for one-two knockout punch
New study finds that over 95% of sponsored influencer posts on Twitter were not disclosed
New sea grant report helps great lakes fish farmers navigate aquaculture regulations
Strain “trick” improves perovskite solar cells’ efficiency
How GPS helps older drivers stay on the roads
Estrogen and progesterone stimulate the body to make opioids
Dancing with the cells – how acoustically levitating a diamond led to a breakthrough in biotech automation
Machine learning helps construct an evolutionary timeline of bacteria
Cellular regulator of mRNA vaccine revealed... offering new therapeutic options
Animal behavioral diversity at risk in the face of declining biodiversity
Finding their way: GPS ignites independence in older adult drivers
Antibiotic resistance among key bacterial species plateaus over time
‘Some insects are declining but what’s happening to the other 99%?’
Powerful new software platform could reshape biomedical research by making data analysis more accessible
Revealing capillaries and cells in living organs with ultrasound
American College of Physicians awards $260,000 in grants to address equity challenges in obesity care
Researchers from MARE ULisboa discover that the European catfish, an invasive species in Portugal, has a prolonged breeding season, enhancing its invasive potential
Rakesh K. Jain, PhD, FAACR, honored with the 2025 AACR Award for Lifetime Achievement in Cancer Research
Solar cells made of moon dust could power future space exploration
Deporting immigrants may further shrink the health care workforce
Border region emergency medical services in migrant emergency care
Resident physician intentions regarding unionization
[Press-News.org] Few Healthcare Providers are Prepared for ICD-10 Despite Ticking ClockComplex and costly preparation takes time and requires significant resources; many providers plan to turn to third party firms for help.