3 ways providers can take advantage of the ICD-10 delay
Early this month, Congress delayed the implementation of ICD-10 as part of legislation that provided a one-year patch for the sustainable growth rate formula, a move that took the healthcare industry by surprise. Healthcare providers spent years--and significant amounts of money--preparing for the new code set, which the government delayed by a year once before, and was set to take effect Oct. 1, 2014.
Healthcare leaders are not pleased with the latest delay. "From a hospital perspective, enough already," Linda Reed, vice president and chief information officer at Morristown, N.J.-based Atlantic Health, told FierceHealthIT. "We've spent the money, done the work and started all the training. From a physician practice perspective, I'm not sure giving another year would make any difference in readiness. The extension from 2013 to 2014 didn't."
In live polling of healthcare providers conducted by Deloitte's Center for Health Solutions during a webinar, 58 percent of respondents said they were disappointed by the delay, but 11 percent reported they were relieved at the prospect of extra time.
As the dust settles from the news of the delay, healthcare leaders and providers must decide how to take full advantage of the extra time. Here are three strategies healthcare leaders recommend.