The new deadline for the International Statistical Classification of Diseases (ICD) allows health care industry ample time to prepare for change—Will you be ready?
The majority of providers have invested substantial time and resources toward the 2014 deadline for the World Health Organization’s ICD-10 compliance and are now left with the question, “What Now?” Does it make sense to delay the implementation of ICD-10 or continue with ICD-9 until next year? Payers can choose to accept ICD-10 in 2014 but they will be required to accept ICD-9 claims until October 1, 2015. Alternatively, payers can wait until the new deadline and begin the process of training and preparing for the transition in 2015. Either way, you can expect a lot of duplication of efforts and resources due to the delay.
For the providers who are not prepared, consider this a last minute stay!
To check out the press release from CMS, click here.