Report Says Few Prepared for ICD-10 Conversion
By Healthcare Informatics Online
Less than ten percent of healthcare providers are over halfway there in terms of being fully prepared for ICD-10, according to a report from Orem, Utah-based research firm KLAS. The report, ICD-10: Preparing for October 2013, says that while providers know a lack of preparation could result in a halt to reimbursements and a revenue cycle disaster when ICD-10 comes, most organizations are still in the strategy/planning phase of their preparation.
This is significant given that providers further down the path of preparation told KLAS that ICD-10 readiness is a complex and costly initiative-one that will require significant time and resources. One patient accounting director said to KLAS, "We know there is a lot of work to be done. In our opinion, meaningful use is a cakewalk compared to ICD-10."
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4 Unpleasant Predictions for 2012
Karen Minich-Pourshadi for HealthLeaders Media
HealthLeaders Media’s 2012 Industry Survey is now under way. This annual survey is the top source of healthcare industry insight, and I encourage you to take it. In looking forward, however, it helps to reflect on this year’s survey data.
Here are my predictions for the top concerns facing healthcare financial leaders, based on our 2011 Industry Survey and conversations over the past year with many CFOs.
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How Hospitals Can Drastically Cut Down Uncompensated Care
Written by Bob Herman for Becker’s Online
It's a scene all-too-familiar for hospitals: An uninsured patient comes through the emergency room, receives the necessary, immediate care and then is discharged — and the hospital knows it might not be reimbursed for the care provided.
Uncompensated healthcare, charity care and bad debt have been on the rise at most hospitals across the nation, and much can be attributed to the rise in the uninsured population, especially amidst the economic recession. Recent data from the U.S. Census Bureau showed there were nearly 50 million people without health insurance in 2010, and the nation's official poverty rate was 15.1 percent. Roughly one-third of the uninsured population has a household income of less than $25,000.
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