Session Preview: Analytics Provide Window to ICD-10 Payment Impact
ICD-10 is not just a coding problem. A recent report indicated that out of all competing hospital initiatives ICD-10 carries the largest risk to hospitals’ financial health.
Given the differences and complexities between ICD-9 and ICD-10 diagnosis and procedure codes, hospitals will inevitably see changes in hospital reimbursement amounts by diagnosis-related group or service line.
They need to understand the financial implications of the transition and determine the revenue impact by provider or system facility, service line, and geography.
At the Tuesday, April 17, ICD-10 Summit session “Predicting Payment Impact of ICD-10 through Analytics,” presented by Louis Rossiter, PhD, of New Health Analytics, and Maria Bounos, RN, MPM, CPC-H, business development manager at Wolters Kluwer Law & Business, attendees will learn how to leverage ICD-10 data within the organization to reduce uncertainty and understand the financial impact of the ICD-10 coding transitions to the bottom line.
This session will also teach attendees how to:
- Highlight areas feeding into strategic and budgetary planning within an organization that require further investigation
- Devise strategies for service lines that are most affected
- Better prepare for a revenue neutral environment
Rossiter emphasized that for those involved in the transition at their organizations, “understanding the financial impact of ICD-9 versus ICD-10 is critical, as CMS is scrambling the crosswalk from ICD to DRG payment.”
Payment impact analysis pinpoints the winning and losing services lines, he said.
“Putting dollars into the ICD-10 transition gets everyone’s attention so you can plan and implement strategies for success,” Rossiter said. Regardless of the final implementation deadline for ICD-10, Rossiter noted “you still need the best analytic tools at your disposal.”