ICD-0 Officially Delayed: Houston, We Have A Problem by Karen Snyder

Nothing makes space chasers more upset then when NASA cancels a space launch. In the 30-year history of the space shuttle program, there have been three last-minute aborted missions occurring less than 10 seconds prior to takeoff and one mission cancelled almost 6 minutes after launch. While it may have been wise to avoid sending a space ship worth billions of dollars hundreds of miles into the sky on what would have been a doomed mission, each time a shuttle launch was canceled, it cost NASA roughly $450 million.

With the stroke of a pen last Tuesday, April 1st, President Obama signed a bill into law that officially aborted ICD-10, until at least October 1, 2015. It goes without saying that many healthcare providers are upset with this delay, as these organizations have already made significant investments in the systems, processes and resources necessary to prepare for a seamless transition. And, like a costly aborted space mission, the American Health Information Management Association (#AHIMA) estimates the one year delay will cost the healthcare industry a staggering $1 to $6.6 billion. Adding costs to an industry that's already operating on razor thin margins only exasperates the problem, creating more pressure on healthcare providers and the vendors that serve them to drive down costs.

In hindsight, the space shuttle leaves behind a noteworthy legacy of achievements: it was a remarkable vehicle that carried a variety of satellites and spacecraft into orbit, serviced these satellites while in space and on a few flights, delivered a reusable laboratory, called Spacelab, which provided research facilities for a variety of experiments. While the ICD-10 delay is certainly a setback, undoubtedly, it too will bring about unprecedented benefits for the healthcare industry including improved patient care, higher quality data to empower more informed policy decisions, more timely payments to providers due to fewer denied claims and improved financial and administrative performance.

Yes Houston, we have a problem, but the good news is that it's only a temporary delay worth waiting for. In the interim, given the economic realities of today, I'd encourage healthcare providers to make some dramatic changes to the way they navigate this evolving landscape. Work closely with trusted partners to collectively drive strategies that result in significant cost savings while lowering risk, enhancing compliance and ultimately improving patient care and safety. Radical change, while often difficult, is a surefire way to drive dramatic results and an almost certain path to lift off.

LINK:	http://blogs.ironmountain.com/2014/industry/healthcare-information-man...
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