Converting Medical Records: Pay Now or Pay Later

The Healthcare Information and Management Systems Society has released an online tool to help health-care providers assess the financial risk of delaying conversion of records to ICD-10, an international medical-coding system.
 
The ICD-10 PlayBook and Financial Risk Calculator includes a financial survey of relevant issues, such as revenue and cash flow, and generates financial risk ratings for revenue, operational cost and cash flow. It also compares organizations’ risk with that of other health-care providers in the same category.
 
Those categories include small, medium or large acute-care facility; individual, small, medium or large clinical or physician practice; and integrated health-care facility.
 
The risk calculator recommends ways to reduce risk exposure and “optimize” reimbursements. It also includes a guide that outlines a pathway to converting to ICD-10 before the deadline of Oct. 12, 2013.
 
Jvion, a healthcare compliance technology and services company, developed the tool.