The calculator provides hospitals and physician practices with a way to quickly assess the financial risk ICD-10 poses to their organizations.
Atlanta, GA (PRWEB) June 27, 2012
Hospitals and physician practices must assess their exposure to financial risk as they strive for ICD-10 compliance. The HIMSS ICD-10 PlayBook, an online tool to help healthcare organizations and their staff transition to ICD-10, now includes the ICD-10 Financial Risk Calculator, a new resource developed in collaboration with the HIMSS ICD-10 Task Force and Jvion. This interactive resource offers steps healthcare organizations can take to modify their accounts receivable even before they complete the conversion to ICD-10.
“The calculator provides hospitals and physician practices with a way to quickly assess the financial risk that ICD-10 poses to their organizations. By simply answering a short survey, providers receive unique insight into the potential impacts of ICD-10, steps they can take to address those impacts, and ways to augment their accounts receivable even before they complete their conversion to ICD-10,” said Juliet A. Santos, HIMSS Senior Director, Business-Centered Systems.
The tool delivers a detailed profile with an individual organization’s risk rating across three financial dimensions: revenues, cash flow, and operational costs. A relative profile is also provided so that users can compare their risk rating to that of their peer group.
“Hospitals and physician practices will find the mitigating steps provided through the tool highly relevant and actionable,” said HIMSS ICD-10 Task Force co-chair Dwan Thomas Flowers. “This tool will help providers set priorities for their ICD-10 planning and conversion efforts to improve their reimbursements.”
In addition to the information and benefits delivered for individual organizations, the data collected will provide invaluable insights into ICD-10 financial risk readiness across the provider landscape. “Through the calculator, we will have unprecedented visibility into the specialties, regions, and practices at highest risk for negative reimbursement impacts,” explained Shantanu Nigam, Jvion’s CEO. “This will help us target specific groups and tailor our ICD-10 solutions to the unique needs of different provider types.”
Jvion LLC (Jvion) is a privately held healthcare compliance technology and services organization with a full suite of tools to enable the ICD-10 conversion. The company serves providers and payers in all phases of the ICD-10 conversion process with a simple value proposition—by using Jvion’s tools and solutions, organizations can do more to reduce cost, mitigate risk, and optimize reimbursements with fewer resources and in a shorter time line. Please visit Jvion’s website at http://www.jvion.com for more information.