CMS, Aug. 24 — CMS (Baltimore, MD) moved back the compliance date for implementing ICD-10 diagnosis and procedure codes to Oct. 1, 2014 from Oct. 1, 2013. According to a recent survey conducted by CMS, up to 25 percent of healthcare providers believe they would not be ready for a 2013 compliance date. Based on recent industry feedback, CMS believes that larger healthcare plans and providers generally are more prepared than smaller entities. The delay will give organizations more time to prepare for the transition to ICD-10 and conduct thorough testing, allowing them to avoid obstacles and save money. In the Regulatory Impact Analysis (RIA) of this final rule, CMS estimates that there would be a cost avoidance of approximately $3.6 billion to nearly $8 billion. For more information about this final rule, visit www.ofr.gov/OFRUpload/OFRData/2012-21238_PI.pdf.
