CMS on Monday released a proposed rule that would delay the ICD-10 compliance date by one year, until October 1, 2014.
The agency considers a one-year delay a "reasonable compromise" between the incremental costs that a delay imposes on hospitals already on track for compliance in 2013 and the additional time that many small hospitals and provider groups need to become compliant.
- Want to learn more about how the Advisory Board is supporting members in the wake of CMS’ announcement? Join Ed Hock, senior director of our Revenue Cycle Solutions team, for a complimentary webconference discussing what the new ICD-10 deadline means as well as how you can take advantage of the new timeline.
Officials pointed to several factors for the delay, such as a recent readiness survey that showed more than 70% of providers and payers did not think they could meet the original October 2013 deadline.
In a release, the agency stated "We believe the change in the compliance date for ICD-10, as proposed in this rule, would give providers and other covered entities more time to prepare and fully test their systems to ensure a smooth and coordinated transition by all industry segments."
Five implications of the delay
Writing on the Financial Leadership Council's blog, "At the Margins," Josh Gray offers five takeaways for hospitals and health systems seeking to make sense of the delay. Read more.