If any individual in the C-suite will feel the effects of ICD-10 most prominently, it will be the hospital CFO. As reported in Becker’s Hospital Review, October 2015, in a article by Kelly Whittle, MS, Principal, ICD-1 0 Advisory and Whittle Advisors, LLC, the top 4 issues faced by hospital CFO will include.

  1. Significant productivity loss throughout the revenue cycle – It’s not a matter of whether productivity aftershocks will occur in lCD-I 0 – it’s a matter of where and for how long.
  2. Short-term denial increases expected – If CMS predictions hold true, short-term spikes in denial rates of 100 to 200 percent are entirely plausible.
  3. Cash flow and revenue hits Denials and delayed payments will directly affect revenue and cash liquidity, both of which are necessary for business growth and expansion of service lines.
  4. Denial management hiring challenges – As denials increase, it will be difficult to find qualified denial management experts who are well-versed in the specificity of ICD-1 0.

You can read the full article here – https://www.beckershospitalreview.com/finance/icd-10-aftershocks-4-challenges-every-cfo-can-expect-in-the-wake-of-go-live.html