61% of Payors Expect to Meet ICD-10 Compliance

Roughly three out of five payors believe their organization will “definitely” be ready to meet the new ICD-10 compliance date of Oct. 1, 2014, according to a survey from HealthEdge.

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HealthEdge, a software vendor for health insurers, surveyed more than 110 payors on various healthcare issues, including ICD-10, health information technology and healthcare reform. Here are some other findings of the survey.

• While 61 percent of payors believe they will definitely meet the new ICD-10 deadline, 30 percent said it was “likely.” The remaining said they were not sure or will not meet the new deadline.

• Fifty-two percent of surveyed payors believe ICD-10 will have a limited financial impact to their organization, while 11 percent said the financial impact would be “significant.”

• More than 41 percent of health insurers in the survey said they are interested in exploring or participating in an accountable care organization.

• Almost half (46.7 percent) of respondents said they are interested in participating in a health insurance exchange.

More Articles on ICD-10:

5 Components of a Hospital’s ICD-10 Impact Assessment

Podcast: How Should Hospitals Prepare for ICD-10?

Is Your Technology Ready for ICD-10?

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