Payor executives recently ranked ICD-10 and the need to reduce administrative costs as the most important and significant obstacles currently facing their organizations, according to HealthEdge's Dec. 2011 Payor Market Survey.
Roughly 37 percent of payor executives stated they were "somewhat prepared" for the full implementation of ICD-10, which meant they have a partial remediation plan completed but may not meet the current deadline of Oct. 1, 2013.
Other results of the survey included the following:
• More than 35 percent of respondents said cost or return-on-investment is the biggest concern regarding the implementation of new IT system across the payor organization.
• Less than 39 percent of payor executives plan to participate in or support next-generation consumer-directed health plans in the next three years.
Roughly 37 percent of payor executives stated they were "somewhat prepared" for the full implementation of ICD-10, which meant they have a partial remediation plan completed but may not meet the current deadline of Oct. 1, 2013.
Other results of the survey included the following:
• More than 35 percent of respondents said cost or return-on-investment is the biggest concern regarding the implementation of new IT system across the payor organization.
• Less than 39 percent of payor executives plan to participate in or support next-generation consumer-directed health plans in the next three years.
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