A new ICD-10 financial impact analysis tool and comprehensive ICD-10
financial impact consulting services are the latest additions to the
full suite of ICD-10 transition planning solutions offered by 3M Health
Information Systems. The new software and services are designed to help
healthcare organizations analyze the reimbursement impact of ICD-10 in
order to identify and target critical revenue and operational impact
areas for improvement.
ICD-10 is scheduled to replace ICD-9-CM as the U.S. coding standard.
Codes based on the International Classification of Diseases (ICD), are
used throughout health care to record, store, and retrieve diagnosis and
procedure information for clinical, epidemiological and quality
purposes, and for reimbursement.
The ICD-10 financial impact analysis tool analyzes ICD-9-coded,
DRG-based claims and an organization’s base reimbursement rate and
reports what expected reimbursement would be if the same DRGs were
derived from ICD-10 codes. It identifies which DRGs will change or
remain the same and determines the overall reimbursement impact—positive
or negative—by department and for each DRG.
3M has also introduced focused ICD-10 financial impact analysis consulting
services, which combine data analytics, onsite record review,
executive-level reports, and education to help healthcare organizations
make decisions relating to personnel, process improvements, and
“By analyzing the financial impact of ICD-10 now, organizations can
project receivables, review contracts, and target documentation
improvement and training programs where they’re most needed,” said Ray
Terrill, senior vice president for 3M Health Information Systems. “It
can help hospitals turn the ICD-10 transition into a strategic advantage
by eliminating potential risks and oversights.”
The 3M ICD-10 financial impact analysis tool is offered as a module of
code translation applications, making it possible to analyze the
impact on reimbursement while mapping and translating coded data from
ICD-9 to ICD-10.
3M offers a wide range of solutions for ICD-10
transition planning. In addition to code translation applications
and financial impact analysis software and services, 3M also provides
ICD-10 consulting services for clinical documentation improvement and
the 3M ICD-10 Education Program, a comprehensive web-based curriculum
that prepares coders, documentation improvement specialists, and other
essential hospital staff for the challenge of ICD-10 coding and
3M Health Information Systems is an international leader in ICD-10
classification with more than 15 years of experience in developing and
maintaining ICD-10 products and services around the world. In the United
States, under contract with the Centers for Medicare and Medicaid
Services (CMS), 3M developed the ICD-10 Procedure Coding System (PCS)
and the General Equivalence Mappings (GEMs), and produced the initial
conversion of MS-DRGs to ICD-10.
More information about 3M ICD-10 code translation tools with financial
impact analysis and 3M financial impact analysis consulting services is
available at www.3Mhis.com
or by calling 800-367-2447.
About 3M Health Information Systems
Best known for our
market-leading coding system and ICD-10 expertise, 3M Health Information
Systems delivers innovative software and consulting services designed to
raise the bar for clinical documentation improvement, computer-assisted
coding, mobile physician applications, case mix and quality outcomes
reporting, and document management. Our robust healthcare data
dictionary and terminology services also support the expansion and
accuracy of the electronic health record (EHR) system. With nearly 30
years of healthcare industry experience and the know-how of more than
100 credentialed 3M coding experts, 3M is the go-to choice for more than
5,000 hospitals worldwide that want to improve quality and financial
3M is a trademark of the 3M Company.