ICD-10 Survey: Small Practices Not Trained, Not Ready for Transition
Only 13% of respondents say they're "highly confident" their business will be ready by October 1.
Apr 28, 2015, 09:00 ET
ATLANTA, April 28, 2015 /PRNewswire/ -- NueMD's third "Attitudes Towards ICD-10" survey generated 1,000 responses from healthcare professionals across all 50 states. The goal of the survey is to learn how the industry feels about ICD-10 ahead of the October 1 deadline and to gain insight into particular areas of concern.
The survey asks respondents how they feel about the new coding standards and the timeline for implementation. The top response for both questions is "There should be no transition to ICD-10." To help explain that sentiment:
- 11% of respondents say they're "highly confident" their employees will be adequately trained by October 1, while 35% say "not at all confident."
- 13% of respondents say they're "highly confident" their business will be prepared for ICD-10 by October 1, while 31% say "not at all confident."
When asked about their concerns and expectations for different areas of their business:
- 65% say they're "highly" or "significantly" concerned about claims processing.
- 70% expect that finances will be affected "somewhat" or "very" negatively.
- 70% also expect that operations will be affected "somewhat" or "very" negatively.
While the survey includes responses from medical practices, billing companies, and other industry professionals, the majority of respondents are from small practices. The data suggests these small practices are less prepared and more concerned than larger organizations.
"The transition deadline is coming up fast, but there's still time to prepare," said Caleb Clarke, Director of Sales and Marketing at NueMD. "Coders and billers should become comfortable with new code sets and providers need to get used to the new level of specificity required for documentation. If you're able to rattle off your most common [ICD-10] codes by October 1, that'll go a long way."
NueMD conducted similar surveys in 2012 and 2014. While there were some small positive changes in levels of concern, there weren't any major shifts over the last three years.
To see the full results, please visit: http://www.nuemd.com/icd-10/survey
About NueMD
NueMD is the leading provider of cloud-based medical practice management software for small practices. Powered by Nuesoft Technologies, Inc., NueMD offers practice management, electronic health record, and medical billing software and services to help physicians maintain the clinical and financial well-being of their practice. Founded in 1993 at the Georgia Institute of Technology's acclaimed Advanced Technology Development Center, NueMD is dedicated to helping providers See Patients and Get Paid. For more information, please visit www.nuemd.com.
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SOURCE NueMD