Smart CFOs keep focus on ICD-10

When the Centers for Medicare & Medicaid Servicdes announced a one-year delay for ICD-10 implementation in February 2012 — pushing the date back to Oct. 1, 2014 – some industry groups cheered, others jeered. What did CFOs do? The smart ones kept their focus and pushed forward with their implementation plans and schedules.

The trouble is there may not be enough smart ones.

"We’re seeing a lot of (CFOs) put their head in the sand,” said Mike Koehler, a director in the risk practice of solutions firm Crowe Horwath. “We’re seeing tremendous failure on an organizational level.”

According to Koehler, it’s imperative for healthcare provider organizations to have a steering committee and for that steering committee to keep the CFO and senior executives focused on ICD-10.

Read the full story: http://tinyurl.com/d3f647p

Source: Healthcare Finance News