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CFOs need to ensure efficient ICD-10 transitions

August 16, 2012
Uncategorized By LW Consulting Inc.

While many in the healthcare fields celebrated when a one-year delay for ICD-10 implementation was announced in February of this year, some experts say that not enough hospital CFOs are bearing down and pushing forward with plans for implementation and scheduling.

Mike Koehler, a director in risk practice at solutions firm Crowe Horwath, told Healthcare Finance News that a huge failure is taking place at the organizational level since many medical facility leaders are not taking charge.

"One way to keep leadership focused on ICD-10 is to establish a steering committee made up of key stakeholders from each area of the practice," Dawn Duchek, industry initiatives coordinator at medical clearinghouse Gateway EDI, said to the news source. "This committee can report to executives on impacts, risks and costs associated with ICD-10 implementation, and play a lead role in helping each area of the practice with its integration needs."

Duchek added that it's important for practices to begin making process changes now, so organizations are working at the best possible level before the ICD-10 implementation deadline comes.

One way for medical facilities to ensure they are functioning as efficiently as possible is to consider implementing electronic health records (EHRs) into their systems.

According to the 2011 Physician Workflow Study, 55 percent of physicians had adopted an EHR system and nearly three-quarters of adopters said that using the new technology resulted in enhanced patient care.

To ensure that ICD-10 implementation as well as other technological advances run as smoothly as possible, medical facilities should consider working with a healthcare consultant. These professionals will guarantee that patients' safety will stay a top priority while also ensuring that staff are trained to abide by all laws and regulations.