Healthcare News & Insights

Nearly 80% of payers aren’t ready for ICD-10

It’s not just hospitals and doctors’ offices that are struggling to keep up with new healthcare technology and compliance mandates. A recent study says health insurers are also being hindered by outdated IT. 

For example, just 22% of healthcare payers are fully prepared to support new ICD-10 codes, according to a recent survey conducted by software provider HealthEdge.

Another 37% of the 106 insurers surveyed said they were “somewhat prepared,” but unsure if they would be able to meet the October 2013 deadline for transitioning to the new codes. Nearly the same number (36%) said they were just starting to get ready, and 5% hadn’t even begun planning the transition.

The main reason for that lack of preparation: the cost of upgrading outdated IT systems, according to the study.

That could cause a problem for all healthcare organizations to meet the ICD-10 deadline, as providers are similarly unprepared for the transition, according to other recent research. Part of providers’ ICD-10 planning must be making sure all payers and system vendors are also ready for the new set of codes.

Providers should be in contact with payers to determine their ICD-10 readiness, and organizations from both sides may want to conduct testing together to make sure problems with their implementations are worked out before the deadline.

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