What will be different?
If ICD-10 lives up to its promise, it will support the post-reform goals of reducing costs and increasing quality and performance for the US health care system:
- Hospitals and physicians will be able to code with greater specificity, capture higher-quality data for monitoring and measuring care, and increase the likelihood of submitting accurate claims the first time around.
- Payers will have better-quality data for measuring quality of care, renegotiating provider reimbursement rates, and leveraging pay-for-performance initiatives and value-based purchasing.
- Increased detail can also accelerate efforts focused on disease and case management, and illuminate opportunities to promote prevention and wellness.
With ICD-10, we can anticipate a coding system that is more precise, enables more accurate reimbursement for a range of procedures and keeps the country in step with medical advances on the global stage.
Providers and payers have a prime opportunity to make sure ICD-10 lives up to its promise. The challenges are many, and the hard work has just begun.