Bellevue, WA (PRWEB) March 12, 2012
Edifecs, Inc. today released a report summarizing key takeaways from the 2012 ICD-10 Summit, a conference hosted by Edifecs that brought together payers, providers, industry analysts and others to discuss how best to successfully implement ICD-10. The report covers multiple topics, including implementation best practices, trading partner collaboration, financial neutrality, testing and the U.S. Department of Health and Human Services’ (HHS) recent announcement regarding a potential delay in the ICD-10 deadline.
Overall, discussions among attendees at the Summit revealed that despite the complexity of ICD-10 and its wide-ranging impact on healthcare enterprises, it is a worthwhile initiative that provides value to payers, providers and healthcare consumers. The themes addressed in the report are representative of presentations, discussions, case studies, small-group exercises and attendee responses to voluntary polls that covered a wide variety of ICD-10-related topics. More than 100 senior healthcare professionals from some of the largest payer and provider organizations from across the country attended the two-day event.
Key findings from the 2012 ICD-10 Summit post-event report include:
- Achieving financial neutrality across the transition date is both a key goal and significant concern of payers and providers alike. One challenge is how to define neutrality. Blue Cross Blue Shield of Michigan shared its six dimensions of neutrality and discussed how it plans to address each one.
- To achieve a successful ICD-10 transition, unprecedented levels of collaboration among trading partners are essential. Cleveland Clinic and Medical Mutual of Ohio shared how they worked together to accelerate their timeline for ICD-10 implementation, potentially saving Cleveland Clinic $7 million.
- Due to the magnitude of testing that would be required for every business process, technology solution and claim scenario, healthcare organizations need to take a risk-based approach to internal and external testing. Humana shared how it is analyzing historical claims to identify high-risk scenarios. By focusing testing scenarios on those that could have the most impact, Humana was able to reduce ICD-10 testing scenarios from several hundred thousand to just a couple of hundred.
- If HHS does delay the compliance deadline for ICD-10, it will do so in the face of strong opposition from payers and providers that have taken the lead in the industry and are already well on the path to meeting the original deadline (see recent Edifecs survey of Summit attendees on the delay of ICD-10 here.)
“The ICD-10 Summit brought together thoughtful industry organizations and representatives to discuss a very sensitive topic—how to successfully implement this very important mandate,” said Sunny Singh, Edifecs CEO. “Speakers and attendees made it clear that a successful ICD-10 implementation will rely heavily on cross-departmental collaboration, disciplined project management and organizational readiness. We’re pleased to share these findings in hope that other ICD-10 project leaders will find them valuable in helping their organizations avoid any negative business impact.”
Summit attendees also recognized that ongoing dialogue with their peers from other healthcare organizations would help them stay abreast of emerging best practices and the pitfalls to avoid in dealing with a project the magnitude and complexity of ICD-10. Because of the valuable information shared during the Summit, attendees have since formed an online community to continue trading notes, sharing information and building ICD-10 expertise.
Even with looming uncertainty around the final ICD-10 deadline date, attendees expressed a strong intent to continue with existing plans and schedules. This may be one of the most important ICD-10 Summit findings.
To download the report, visit http://www.edifecs.com/downloads/ICD10SummitTakeaways.pdf.
About the Report: Key Takeaways from the 2012 ICD-10 Summit
The key takeaways discussed in this report are the result of presentations, case studies, discussions, one-on-one meetings, small-group exercises and multiple real-time audience polls from an Edifecs-hosted industry conference that took place February 15-17, 2012 in Cape Coral, Florida. Approximately 100 senior healthcare professionals attended the 2012 ICD-10 Summit, representing a wide range of healthcare organizations, including commercial payers (25 percent), Blue Cross Blue Shield plans (25 percent), healthcare providers (18 percent), government entities such as State Medicaids (9 percent), medical claim clearinghouses (6 percent), and other healthcare industry organizations (17 percent).
Attendance at the event focused on those individuals actively involved in their organization’s ICD-10 transition who carry significant responsibility for the overall success of the project. Forty-nine percent of attendees’ ICD-10 efforts are currently in the development phase, while 36 percent are in the planning phase. Ten percent are implementing, and five percent are in testing.
The results of polls and surveys taken during the Summit represent an aggregate of voluntary and anonymous responses from more than 50 senior healthcare professionals. The aggregated data and Edifecs’ interpretation of it should not be construed as representing any specific opinion belonging to other healthcare organizations mentioned in the report.
About Edifecs, Inc.
An industry leader since 1996, Edifecs provides healthcare software solutions that improve operational performance by streamlining the exchange of information among health plans, hospitals, and other healthcare organizations, while enabling compliance with current mandates such as HIPAA 5010 and ICD-10.
Today, more than 250 healthcare customers use Edifecs technology to unify transactions from any information channel source and input mechanism, while automating manual business processes such as enrollment, claims and payments management.
Edifecs is currently recognized as one of the 100 Fastest Growing Private Companies in the state of Washington, 100 Best Places to Work in the state of Washington, an Inc. 5000 fastest-growing private company and one of the 500 Fastest Growing Companies in North America by Deloitte. Edifecs is headquartered in Bellevue, WA. For more information, please visit http://www.edifecs.com.