Dollars and sense: Mitigating budget risk for ICD-10
Newell, L.M.; DeSilva, J.J.
Healthcare Financial Management Journal of the Healthcare Financial Management Association 67(2): 78-81
2013
ISSN/ISBN: 0735-0732 PMID: 23413673 Document Number: 666158
The extended deadline for ICD-10 implementation is time that should not be wasted. Healthcare leaders should keep three things in mind: CFOs should approach the effort knowing the costs of ICD-10 implementation will be high and spread over multiple budget years. Training, productivity, and contractual issues are among key areas that will be challenged by ICD-10 implementation. Healthcare finance leaders should work to improve cash-on-hand and cash reserves prior to the ICD-10 deadline to ensure liquidity post-compliance.