Survey: One-third of physician practices have yet to prepare for ICD-10

Laura Pedulli | June 27, 2013 | Health Exec | Policy & Regulations

Another recent survey has revealed widespread unpreparedness for ICD-10 compliance.

An online survey of 500 physician practices commissioned by medical claims clearinghouse Navicure found that one-third have yet to prepare for the Oct. 1, 2014 implementation deadline. Of those, 21 percent already feel they are “off track,” according to a report of the survey, released on June 26.

Overall, the survey posed questions regarding ICD-10 preparation progress, resource availability and technology readiness. Of those who have yet to prepare:

36 percent believe there is more than enough time to prepare
26 percent stated they do not have adequate time, staff or training resources to begin preparations
22 percent do not know where to start ICD-10 planning.

The top two ICD-10 challenges, as reported by respondents, include training (45 percent) and payer readiness (30 percent). Many respondents anticipate a drop in productivity to adjust to the new codes, with one-third expecting productivity to dip on average by 21 to 40 percent. Impact on cash flow is a major concern of physician practices, with more than half worried about how implementation will strain financial resources.

To view the survey report, which also contains tips on preparation, go here.