The lifeblood of healthcare finance is getting a transfusion on Oct. 1, 2013, when Medicare requires providers to shift their claims format from the current ICD-9 code sets to the much more complex ICD-10 system. Health systems that are not ready for the transition by that date are at dire risk of a revenue shutdown.
With about two years remaining before the switch, however, observers say the industry doesn’t appear to be moving forward very quickly.
Katie Carolan, vice president of operations for Baltimore-based HRS, sees “a combination of trepidation and not addressing the issue at all because electronic health records and other initiatives are taking priority.”