Ernst & Young and 3M to Host Webcast to Help Organizations Prepare for Overhaul of Health care Coding System
New York, 3 February 2011 – Ernst & Young LLP and 3M Health Information Systems will be hosting a webcast on February 9, 2011, to discuss the intricacies involved as US health care providers and health plans adapt to the first major overhaul of the medical coding system in more than 30 years.
US adoption of the International Classification of Diseases 10th edition (ICD-10) by 2013 will usher in a new era of medical coding, designed to improve disease management, quality monitoring, and health care reimbursement. The new standard will significantly expand the number of codes in use, enabling payers and providers to address a wider variety of conditions with far more specificity. The transition to ICD-10 also brings new complexity, however, as the number of diagnostic codes increases from 17,000 available today to more than 140,000 under ICD-10.
“The shift to ICD-10 is about more than compliance; it is an opportunity for health care organizations and payers to transform their business processes in a way that can bring dramatic improvements to their overall performance,” says John Distefano, Americas Health care Advisory Services leader at Ernst & Young LLP. “We are very pleased to be hosting this event with 3M, which like EY, has been guiding clients throughout the world in their conversion to ICD-10.”
Ernst & Young firms have worked for a decade with health care clients in Europe as they began to utilize ICD-10 as the basis for development of a national payment methodology. This level of ICD-10 depth adds to the organization’s extensive experience in revenue cycle, process redesign, change management and IT analysis.
3M Health Information Systems has over 15 years’ experience in developing and maintaining ICD-10 products and services around the world. In the United States, under contract with the Centers for Medicare and Medicaid Services and the National Center for Health Statistics, 3M developed the ICD-10 Procedure Coding System (ICD-10-PCS) and the General Equivalence Mappings (GEMS) and Reimbursement Maps.
“ICD-10 will touch every aspect of health care operations and patient care, so it’s critical that organizations have a comprehensive transition plan,” adds Garri Garrison, Consulting Services business director for 3M Health Information Systems. “3M’s program can help facilities understand how to take strategic advantage of ICD-10 for clinical, financial, and operational improvement.”
Industry professionals from Ernst and Young LLP and 3M Health Information Systems will explore the implications of ICD-10 for US businesses on a webcast being held Wednesday, February 9, 2011, from 1:00 PM – 2:00 PM EST. Topics to be addressed include:
- Current state of readiness and emerging strategies among payers and providers
- Revenue cycle processes
- Physician documentation habits
- Impact on EHR/CPOE systems
- Impact on Clinical and financial systems
- Timelines for ICD-10 implementations
Details and registration information are available at: http://webcast.ey.com/thoughtcenter/default.aspx?pid=3243
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This news release has been issued by Ernst & Young LLP, a client-serving member firm of Ernst & Young Global Limited located in the US.
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