Nearly two-thirds of physician practices have not begun preparing for the ICD-10 transition, though most are optimistic about their abilities to meet the Oct. 1, 2014 deadline, according to a new survey from Navicure.
Among practices that have not yet started to prepare, 84 percent anticipate doing so by May. However, 27 percent reported uncertainty on how to begin preparing, and 22 percent said a lack of staff, time or resources have kept them from starting preparations.
Despite these hurdles, a vast majority (87 percent) of those surveyed reported being confident they would be prepared for the change by Oct. 1. Additionally, while two-thirds anticipate some disruption to their cash flow during the transition, few anticipate a significant impact to staff productivity.
The survey was conducted by Porter Research in the third quarter of 2013. Two-thirds of respondents were practice or billing managers, and a majority (60 percent) of respondents were from practices with 10 or fewer physicians.
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