Ron Jones, senior vice president of hospital solutions at OptumInsight, recently wrote in an ICD10monitor article that an average 250-bed hospital could stand to lose as much as $850,000 in lost productivity and denied claims if it is not properly prepared for ICD-10.
While the Oct. 1, 2013, deadline is less than two years away, Mr. Jones said that hospital CFOs can't wait until 2013 to start preparing due to all the moving parts that need to be updated.
Mr. Jones recommends that hospitals can increase coder productivity, coding accuracy and compliance measures by using computer-assisted coding technology. The technology is a crosswalk between ICD-9 and ICD-10 codes, and it could help the hospital as it builds a new revenue cycle workflow, according to the article.
While the Oct. 1, 2013, deadline is less than two years away, Mr. Jones said that hospital CFOs can't wait until 2013 to start preparing due to all the moving parts that need to be updated.
Mr. Jones recommends that hospitals can increase coder productivity, coding accuracy and compliance measures by using computer-assisted coding technology. The technology is a crosswalk between ICD-9 and ICD-10 codes, and it could help the hospital as it builds a new revenue cycle workflow, according to the article.
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