Atlanta, GA (PRWEB) November 29, 2012
While the shift to ICD-10 pales in comparison and reach to the looming fiscal cliff faced by the nation, it does pose a financial risk to providers who stand to lose millions because of the code conversion. Providers can expect to see a 2-6% drop in revenues depending their type of business and case mix, explained Surya Vadlamani, Jvion CIO and chief ICD-10 solution architect. As providers develop their ICD-10 roadmap and prepare their conversion plans, there is a recognition that the shift will not be as revenue-neutral as once thought. Organizations are acutely aware of the reimbursement variations that ICD-10 will cause and are looking for ways to avoid dips in revenues following October 2014.
Many providers are taking a renewed, revenue-focused approach to ICD-10 to help address reimbursement risks. This tactic puts reimbursement variations at the heart of the conversion and prioritizes all activities by financial impact. According to Jvion, there are six major components to becoming revenue-focused: