Survey: 66% of hospitals to focus on better RCM in 2016
Navicure released the results of its final ICD-10 survey, deployed to assess the attitudes and behaviors of healthcare organizations following the transition's Oct. 1 deadline.
Navicure of Duluth, Ga., commissioned Porter Research in Atlanta to conduct the survey in December 2015. It is their fifth and final survey to measure ICD-10 impact on provider organizations. Similar to the first four surveys, deployed prior to the ICD-10 transition, respondents included billing managers, practice administrators, practice executives and billers and coders.
Below are six survey findings.
1. Of survey participants, 99 percent reported being sufficiently prepared for the ICD-10 deadline.
2. Only 13 percent of administrative staff and 15 percent of clinical staff saw a significant impact on productivity following the ICD-10 transition.
3. Of respondents, 60 percent did not see any impact on their monthly revenue following the Oct. 1 transition date. About 34 percent saw revenue decrease by less than 20 percent.
4. Denial rates have remained the same for 45 percent of respondents, and increased less than 10 percent for 44 percent of respondents.
5. Post ICD-10 deadline, roughly 70 percent of providers had no difficulties with prior authorizations, referrals, physician quality reporting systems and medical necessity.
6. Now past the ICD-10 transition, 66 percent of participants plan to focus on improving revenue cycle management processes in 2016. Fifteen percent plan to focus on working toward a value-based care model and 9 percent plan to focus on automating patient collections strategies.
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