CIOs Can Benefit from ICD-10 Financial Risk Assessments, Too

CFOs have been the target of most ICD-10 financial risk assessment buzz. The reasons are obvious—these assessments target the ICD-10 reimbursement shifts that impact revenues. Finance and revenue cycle are the natural consumers of this kind of dollar-focused information. However, as Jvion explains in their recent article, advancements in financial risk assessment capabilities and outputs are delivering insights to CIOs too.

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Using the outputs of an ICD-10 financial risk assessment to drive all aspects of the conversion means that everyone is on the same page and focused on the same business goals

Atlanta, GA (PRWEB) November 20, 2012

With ICD-10 Financial Risk Assessments becoming a core part of the ICD-10 conversion process, providers are looking for ways to leverage their outputs across the organization. Shantanu Nigam, Jvion CEO, explained that, “through advancements in analytic capabilities and the increase in encounter-level outputs, providers can use their ICD-10 financial risk assessment outcomes across the business and IT. This is because the more granular form of risk assessment available on the market provides data points that are more actionable and meaningful than simple DRG-level analyses. Providers are able to apply their findings over an increased number of business and technical functions because of this richer data and drive a revenue-focus across all ICD-10 conversion activities.”

With encounter-level ICD-10 financial risk assessments, CIOs can better understand where to focus their ICD-10 conversion efforts in a way that reduces risk to the business and best uses resources across all phases of remediation. This includes:

  •     Improved budget allocations
  •     Increased automation in testing scenarios
  •     Prioritized testing scenarios and data
  •     Targeted crosswalk development and business rules
  •     Improved staff allocations
  •     Prioritized planning for vendor and interface management

“Having a tie to revenues helps the CIO bridge the gap between IT and the business. Using the outputs of an ICD-10 financial risk assessment to drive all aspects of the conversion means that everyone is on the same page and focused on the same business goals,” said Shantanu.

For more information on Jvion’s ICD-10 financial risk assessment solution and how IT can leverage its outputs, please visit http://www.jvion.com/revcore.html.

About Jvion
Jvion is a 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.

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