Issue link: https://beckershealthcare.uberflip.com/i/493267
55 Coding, Billing & Collections Meridian is making certain "all systems function properly where ICD-10 codes are used," says Ms. Sackos. "This includes any system that stores, pro- cesses, sends or receives ICD-10 codes. We are also engaging in dual coding and evaluating the results." Externally, SCA is participating in Medicare end-to-end testing and Meridian is similarly engaging with vendors and payers. But even with those tools, there still are hardships, Ms. Bryan explains. "Like many other companies, we have been challenged with finding time and allocating proper resources to this huge undertaking," she says. "Our ICD-10 implementation team have full-time job duties to fulfill outside of ICD-10 but planning carefully and adhering to strict timelines have en- abled us to stay on task." "The overall process has been time-consuming," Ms. Sackos says. "Once we established a budget, we then implemented the process improvement plan, systems changes and upgrades, testing and training." Currently, Ms. Sackos says her biggest challenge is keeping staff and physi- cians engaged in the ICD-10 transition process. "Due to the delay, there is no longer a sense of urgency," Ms. Sackos says. "The overall perception is that it will continue to be delayed." Both Ms. Bryan and Ms. Sackos say that, ultimately, their respective ASCs are prepared for the switchover. "At this point, we are ready and have invested in the resources to make the switch to ICD-10," Ms. Sackos says. "We are fully prepared to implement this year and have embraced the chang- es that are coming. We looked at this as an opportunity for continuous im- provement," Ms. Bryan says. n • Want competitive bids? • Want the best price and terms? • Want to partner with a hospital? • Which of the 30 ASC companies is best for you? • Want to sell your ASC real estate? Want to sell your ASC or endoscopy center? ASC Sales Purchases Mergers Acquisitions Valuations Joint Ventures Partnering Consulting Jon Vick, President of ASCs Inc., has facilitated over 250 ASC partnership transactions. He specializes in ASC sales, strategic partnering, and ASC/MOB real estate sales. To find out how we can facilitate the sale of your ASC, contact Jon Vick at JonVick@ASCs-Inc.com or 760-751-0250 Get more information about how ASCs Inc. can find you the best deal, visit www.ASCs-Inc.com today! 6 Healthcare Spending Trends By Anuja Vaidya H ere are six key observations on healthcare spending from Alta- rum Institute Center for Sustainable Health Spending's Health Sector Trend Report released in January: 1. Healthcare spending through the third quarter of 2014 grew at an an- nual rate of 5 percent, up from the 3.6 percent growth rate in 2013. 2. This acceleration was driven mainly by higher spending on prescrip- tion drugs. 3. There are indications of a jump in the third quarter, when spending on services increased by 5.4 percent as compared to the third quarter of 2013. 4. If the third-quarter jump in services spending is repeated in the fourth quarter, national health expenditures for the second half of 2014 will have grown at about 6 percent annual rate, compared to about 4.7 percent growth during the first half. 5. Prices of healthcare goods and services grew 1.5 percent in 2014, com- pared to 1.3 percent in 2013. 6. However, prices for healthcare services alone showed the opposite pat- tern, with growth falling from 1.5 percent in 2013 to 1.3 percent in 2014. n