Each month Regent Revenue Cycle Management (RCM) explores the top news and headlines affecting the health care industry. This month in the news: an American Health Information Management Association survey says coding productivity has dipped since the implementation of ICD-10; Reasons why the global spinal implants market expansion is driven by outpatient spine surgery; Ambulatory surgery centers (ASCs) reduce outpatient procedure costs by $38 billion per year compared to hospital outpatient departments (HOPDs); And a blog about how electronic preference cards drive ASC supply cost savings.
Survey: Coding Productivity Dipped After ICD-10 Implementation
A survey conducted by the American Health Information Management Association Foundation found that the implementation of ICD-10 did result in a perceived loss of coding productivity, with a minimal dip in coding accuracy.
Investigators from the Foundation sought to determine whether the implementation of ICD-10 increased, decreased, or had no change on the productivity and accuracy of coding professionals. According to the survey results, respondents noted they experienced a 14.15 percent decrease in productivity, yet only a 0.65 percent decrease in accuracy. Click here to read the report.
Outpatient spine surgery to drive expansive global spinal implants market
The demand for outpatient spine surgery is fueling global spinal implants market growth, according to Research and Markets’ report “Global Spinal Implants Market 2016-2020.” Click here to learn the four insights.
ASCs reduce outpatient procedure costs by $38B per year compared to HOPDs
According to new analysis, ASCs can reduce outpatient surgery’s cost by more than $38 billion dollars annually compared to hospital outpatient departments.
Healthcare Bluebook, a national provider of quality and cost data for healthcare services, and HealthSmart, an independent administrator of health plans for self-funded employers conducted the analysis. The Ambulatory Surgery Center Association provided technical assistance and expertise to the study. The companies conducted the analysis using a sample of de-identified commercial claims data for 2014. Click here to read the report.
Electronic Preference Card Data Drives Supply Cost Savings for ASCs
Driving down costs and achieving efficiency is now more important than ever for Ambulatory Surgery Centers (ASCs). With this in mind, Regent Surgical Health is spearheading the use of electronic preference cards, which help partner centers around the country find specific case items that raise costs. Click here to read the blog and learn more about how electronic preference card data can provide supply cost savings for your ASC.