ICD-10 is a major change to the healthcare industry that will be expensive and require a great deal of work, but nonetheless, it provides significant benefits because of the increased clinical granularity of the new code set.
In a column in the Journal of Healthcare Information Management, WPC’s Larry Watkins outlines some of the financial and operational benefits ICD-10 will bring to the healthcare industry. These benefits include:
- Top line revenue growth
- Reimbursement tied to outcomes
- Insight into quality metrics that lead to higher reimbursement
- Improvements in trending and predictive analysis
- Optimizing the revenue cycle
- Fewer miscoded, improper, and rejected claims
- Improved resource efficiency and productivity
To learn more about the financial and operational benefits of ICD-10, view the full column in the Journal of Healthcare Information Management online (HIMSS membership required), or contact WPC today.