ICD-10 Testing Results—and How CMS Saved $210 Million!

February 27, 2015

Happy Friday to all our readers and followers! Big news came out of Washington D.C. this week, when CMS announced successful ICD-10 testing results on its blog. After nearly 660 providers and billing companies submitted almost 15,000 test claims, CMS wrote that it believes this week’s successful tests continue to “put us on course for successful implementation (of ICD-10).” Additionally, Health IT Outcomes reports that lawmakers are committing to the ICD-10 transition deadline scheduled for October, easing doubts that this year’s transition date would hold.

Modern Healthcare published a story on the power of predictive analytics, noting that the process has saved CMS over $210 million in one year. While encouraging, experts see this report as a sign that actionable analytics can do even more for healthcare, including helping providers achieve millions of dollars in savings every year.

Finally, with plenty of (well-deserved) attention being directed towards the growing fee-for-value movement, H&HN reminds us to let healthcare’s core values be the guiding force behind new practices. Innovation is a vital part of ensuring healthcare keeps up with the demands of patients and providers, but it is also critical to maintain a sense of direction when implementing new policies.

Stay Informed