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Monitoring the Impact of ICD-10

June 28, 2012

Hospitals and physician practices must assess their exposure to financial risk as they strive for ICD-10 compliance.

The HIMSS ICD-10 PlayBook, an online tool to help healthcare organizations and their staff transition to ICD-10, now includes the ICD-10 Financial Risk Calculator, a new resource developed in collaboration with the HIMSS ICD-10 Task Force and Jvion. This interactive resource offers steps healthcare organizations can take to modify their accounts receivable even before they complete the conversion to ICD-10.

“The calculator provides hospitals and physician practices with a way to quickly assess the financial risk that ICD-10 poses to their organizations. By simply answering a short survey, providers receive unique insight into the potential impacts of ICD-10, steps they can take to address those impacts, and ways to augment their accounts receivable even before they complete their conversion to ICD-10,” said Juliet A. Santos, HIMSS Senior Director, Business-Centered Systems.

The tool includes profiles with an individual organization’s risk rating across three financial areas: revenue cycle, cash flow and operational costs. A profile is also provided so that users can compare their risk rating to that of their peer group.

“Hospitals and physician practices will find the mitigating steps provided through the tool highly relevant and actionable,” said HIMSS ICD-10 Task Force co-chair Dwan Thomas Flowers. “This tool will help providers set priorities for their ICD-10 planning and conversion efforts to improve their reimbursements.”

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