Survey finds physician practices are concerned with cash flow around the transition and training staff for new code set requirements
Navicure Announces Key Findings from ICD-10 Readiness Survey
For NavicureDodge CommunicationsMegan Smith, 770-576-2560
, a leading medical claims clearinghouse for physician practices, today announced the results of the ICD-10 Readiness Survey it deployed in conjunction with . The survey found that 33 percent of respondents from physician practices have not started preparing for the , ICD-10 implementation deadline. In addition, 21 percent of those practices that have started preparing feel like they are already behind.
More than 500 respondents from physician practices of various sizes and specialties across the U.S. answered the online survey, which asked about ICD-10 preparation progress, resource availability and technology readiness. The majority of participants (61 percent) identified themselves as practice administrators or billing managers.
In addition to practices not having started preparing for ICD-10 or feeling behind in their efforts, other survey key findings include:
“For those practices that have not started or are behind in their ICD-10 preparations, if they act immediately, they can still catch up,” said Ken Bradley, vice president of strategic planning at Navicure. “Practices should lean on technology vendors for guidance. In particular, clearinghouses will be a critical lynchpin since they can test with both physician practices and payers and can address any cash flow issues prior to the transition.”
Jim Denny, founder, president and CEO of Navicure added, “The survey results confirmed that practices are extremely concerned about ICD-10 training. We can help. Navicure continues to invest heavily in ICD-10 education and training for all medical practices. We want both clients and prospective clients to be prepared for this monumental change, and we feel we can play an important part.”
To view the complete survey results and analysis, visit .
Navicure is a leading Internet-based medical claims clearinghouse that helps physician practices increase profitability through improved claims reimbursement and staff productivity. Serving over 40,000 healthcare providers in practices nationwide, Navicure’s solutions automate account receivables processes, including primary and secondary claims reimbursement; patient eligibility verification; rejected and denied claims management, including appeals; electronic remittance and posting; claims and remittance reporting and analysis; and patient statement processing. Navicure’s solution is supported by its unique 3-Ring Client Service which guarantees that a client service representative will answer every client call in three rings or less, even during times of transition such as 5010 and ICD-10.
Navicure is the exclusive clearinghouse of the MGMA AdminiServe Partner Network.
The company received “Best in KLAS” distinctions for the claims and clearinghouse services market segment as part of the 2008, 2010 and 2012 report (). KLAS is a leading source of information on healthcare information technology vendor performance.Navicure also received the 2013 Gold Stevie Award for Healthcare Customer Service Team of the Year as part of the 2013 Stevie Awards for Sales and Customer Service.
Navicure is the founding sponsor of , a free educational website devoted to making physician practices’ transitions to ICD-10 easier. Navicure continues to be ranked among the fastest growing companies nationally in the Inc. 5000 and Deloitte Fast 500 rankings. For more information, please visit .
Porter Research a Billian Inc. company has for over 20 years worked diligently to understand and assess each client’s unique needs and build a customized business-to-business research program to achieve desired goals.
The company has worked with over 300 healthcare IT companies, providing many with Go-to-Market Strategies based on its unparalleled experience, proven methodologies and knowledge-based analysis. Porter Research enables its clients to operate in a fast-changing market of new, emerging technologies and health reform issues such as ICD-10. It provides the unbiased results that healthcare clients need to make informed, strategic business decisions.
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