Date: June 20, 2013
Time: 12:00 PM CST
Duration: 60 minutes
Speaker: Dr. Suman De, Healthcare Consultant and Head-ICD-10, Infosys Public Services
ICD-10 promises positive transformation of healthcare by reducing costs and improving the quality of care. For healthcare providers it is an opportunity to reinvent and optimize revenue management in the long term. In the short term, it raises concerns about adverse impact on revenue cycles, given the current alignment of revenues with ICD-9 and the magnitude of the changeover. Thus healthcare analysts from the managed care services – revenue cycle management to clinical managers – and financial reporting areas need to understand the financial impact of ICD-10 transition across all business dimensions (not just those directly impacted). Providers will need to ensure that reimbursements based on the new ICD-10 codes are within acceptable variances and changes to their payer contracts are proposed on a revenue-neutral basis.
With ICD-10 compliance mandated by October 1, 2014, the provider organizations are seeing indications that the prospective shift in the coding pattern will lead to claims reimbursement issues, significantly risking their bottom line. If left unaddressed this will seriously challenge the provider business in the new coding world. Hence piloting reimbursement scenarios to achieve financial neutrality and subsequent improvement in the clinical documentation practice before the mandated deadline could help providers reduce the risk of disruption to revenue, reimbursement, and operations, and may result in a seamless, strategic transition.
Who should attend?
HIM directors, directors of revenue cycle management, CFOs, CIOs, managed care services, coding supervisors, and directors of patient financial services
Dr. Suman De - Healthcare Consultant and Head-ICD-10, Infosys Public Services
Dr. Suman De is a registered clinician with a degree in medicine and a master’s degree in business administration in healthcare. He has significant experience in the healthcare domain, and specializes in the development and implementation of IT-enabled business solutions for health insurance, hospitals, and managed care organizations.
Dr. De currently leads the Infosys iTransform™ product development, and has been largely involved in strategic consulting projects with various large payers and providers to help implement ICD-10.