ICD-10, while tricky, can deliver a lot of rewards if implemented correctly
Atlanta, GA (PRWEB) June 25, 2013
During last week’s ICD-10 Forum Ritesh Sharma, Jvion COO and ICD-10 expert, delivered a strong message that ICD-10 will have a major impact in the way that providers understand and address fiscal waste. There are long-term positive effects that will help providers understand waste in a new way Sharma said during his presentation to the group.
During this past year, many vendors and leading healthcare organizations have focused on ICD-10’s negative impacts with very little conversation about potential long-term positives. Sharma added that, “the team at Jvion understands ICD-10’s pit falls. We work with providers every day to identify individualized risk and develop solutions that support them through the conversion. But we as an industry also need to keep our eye on the benefits that come with the new code set. One of which is the ability to apply the detail within ICD-10 to improve patient health outcomes.”
While focusing on ICD-10's advantages, Sharma also discussed the code set's likely impact to the overall financial health of an organization and the specific actions that providers can take to limit their exposure. Couched within the context of the Great Recession, he demonstrated how ICD-10 will negatively hit historically stable operating margins and increase volatility within overall margins. But he ended on a positive note. “ICD-10, while tricky, can deliver a lot of rewards if implemented correctly,” Sharma said. It is about leveraging the granularity inherent to the new code set to look for opportunities that improve patient health.
Jvion is a healthcare technology company addressing the financial and operational impacts resulting from mandated reforms and compliance activities. We offer a suite of Big Data-enabled software solutions to reduce the financial impact and burden of the ICD-10 conversion, and help providers protect their revenues from increased financial waste associated with mandated changes and increased payor scrutiny. Please visit Jvion’s website at jvion.com for more information.