ICD-10 deadline moved up, but work still begins
In a decision that brought relief to CIOs and business managers throughout the healthcare system, HHS has moved the deadline for moving all coding to ICD-10 CM up to October 1, 2013 from a prior deadline of October 1, 2011. Despite the extra time, however, the industry is mobilizing now to make the changes needed, which still pose a significant challenge even with the added time.
In a related piece of rule making, HHS has also posted a final rule covering upgrades from the 12 Version 4010 data-transmission standards currently in use. The new rules call for Version 5010, needed for ICD-10 conversions given that ICD-10 codes are bigger and more complicated than ICD-9. Providers have until Jan. 1, 2012 to comply with these standards.
According to an estimate included in HHS's proposed rule, implementing the changes needed to move ahead with ICD-10 will cost providers almost $3 billion, with costs running well past the deadline into 2017. However, the agency estimates that that benefits from the conversion will total $4.5 billion between 2015 and 2025.
To learn more about the new standards:
- read this Modern Healthcare article (reg. req.)
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