January 08, 2013
Providers Rethink Health Information Management Strategy in Face of Brewing ICD-10 Storm
Biggest HIM Department Challenge
-- Regulatory requirements and ICD-10 changes challenge current go-forward strategies --
OREM, UT, January 08, 2013 /24-7PressRelease/ -- Providers tell KLAS they are reassessing their go-forward health information management (HIM) strategies accompanying ICD-10 to address new challenges around organizational consolidation or expansion, EMRs, and other HIM technology implementations. This and other insights can be found in a new KLAS report entitled HIM Services 2012: Helping to Weather the Storm.
"The monumental shift to ICD-10 has providers worried about keeping up with regulatory requirements, obtaining and retaining the right staff, and handling the fluctuation in volumes and productivity that they predict will occur," said Graham Triggs, research director. "As volumes increase with 10,000 baby boomers turning 65 every day for the next 18 years, the need for adequate, qualified, and trained staff becomes clear."
To address these staffing and other HIM challenges, some providers are looking to third-party assistance to outsource transcription (MTSO), coding, scanning, or release of information. Providers looking to alleviate ICD-10 coding concerns are also considering computer-assisted coding (CAC) and clinical documentation improvement technology, which are also discussed in depth in this report.
A major focus of this report is a detailed discussion of the turnaround times, report quality, account management, and administrative tools of MTSO firms. Providers have also identified clear distinctions as they examine what firms offer in expertise and tools and their track records of client satisfaction.
Precyse and TransTech top the satisfaction rankings, but more comprehensive offerings by larger firms Nuance and M*Modal continue to dominate market share. Among reasons discussed in the report for Precyse's and TransTech's scores are their unique HIM offerings. Precyse offers clients transcription and coding services, a CAC product, and the ability to fully outsource the HIM department. TransTech is onshore only but still delivers consistent report quality and fast turnaround times as well as offering a unique service for radiologists. The key reasons behind Nuance's and M*Modal's offerings and market share dominance are discussed at length as well.
Other fully rated MTSO firms include Accentus, Acusis, Nuance (Transcend), and Superior Global. Early data and component firms include Amphion, FutureNet, Keystrokes, MedScribe, M*Modal, NEMT, PJ&A, StenTel, and Transdyne. Findings about Alpha Systems for scanning services and about Healthport and MRO Corp for release of information are also discussed.
To learn more about HIM Services 2012: Helping to Weather the Storm, please visit http://www.KLASresearch.com/KLASreports.
KLAS is a research firm on a global mission to improve healthcare delivery by enabling providers to be heard and to be counted. Working with thousands of healthcare executives and clinicians, KLAS gathers data on software, services, medical equipment, and infrastructure systems to deliver timely reports, trends, and statistical overviews. The research directly represents the provider voice and acts as a catalyst for improving vendor performance. KLAS was founded in 1996, and their staff and advisory board members average 25 years of healthcare information technology experience. For more information, go to http://www.KLASresearch.com, email marketing@KLASresearch.com, or call 1-800-920-4109 to speak with a KLAS representative. Follow KLAS on Twitter @KLASresearch.
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