Mar 22, 2010
From the Healthcare & Life Sciences Institute
The adoption of ICD-10 represents both a regulatory mandate and a call for transformation. Those who embrace the opportunity to transform their business practices will likely be rewarded with improved diagnosis, treatment, and management of care, potentially ushering in lower costs for the entire healthcare system.
However, the deadline for compliance is October 1, 2013. While this may seem a long way off, the transition to ICD-10 is highly complex and can lead to significant changes in people, processes, and technology. Successful adoption depends on the commitment and collaboration of all industry stakeholders.
This paper summarizes what ICD-10 is and what the impacts are to both providers and payors. It also provides an industry preparedness timeline and discusses how organizations can begin preparing for the ICD-10 challenge now.