Industry-First Non-Invasive Auditing Solution Protects Healthcare Delivery Organizations Against Delayed Payments, Billing Errors, and Duplicate Claims Resulting from Incomplete Migration
SEATTLE, WA – March 11, 2015 – ExtraHop, the global leader in real-time wire data analytics for IT intelligence and business operations, today announced the ICD-10 Audit bundle, designed to streamline the conversion from ICD-9 to ICD-10 with real-time visibility and tracking of diagnostic codes being used across the healthcare IT environment. For the first time, Healthcare CIOs now have an automated, non-invasive method of tracking all ICD-9 and ICD-10 interface messages by application, facility, message type, and rate of messages in real-time. This unprecedented level of visibility provides the information needed to ensure vendor accountability, assure business stakeholders that all claims will be correctly processed, and reduce the resources required for complete migration by October 1st.
A recent beta test of ICD-10 readiness by the Centers for Medicare and Medicaid Services (CMS) found that nearly one-fifth of the claims submitted using the new coding scheme were rejected – a rate far higher than average. This testing underscores just how massive an undertaking the ICD-10 conversion actually is, and should serve as a wake-up call for Healthcare Delivery Organizations (HDOs) about the potentially significant financial ramifications of failure to meet the October 1st migration deadline.
The steep learning curve for ICD-10 coding means that HDOs need to act quickly to begin implementing the new standards before the deadline. According to Gartner analyst Melanie Meyer, "We recommend that HDOs move to ICD-10 in advance of the compliance date. Lessons learned from early ICD-10 coding, and the greater level of detail in the new code sets, will provide a richer dataset for clinical and financial analysis, and enable more accurate financial modeling, thereby positioning the organization well for the future."
The ExtraHop ICD-10 Audit bundle adds significant new capabilities to the current ExtraHop Healthcare Edition, demonstrating the value and extensibility of the ExtraHop wire data analytics platform to deliver actionable insights and benefits for IT intelligence and business operations. The ICD-10 Audit bundle auto-detects, analyzes, and categorizes all ICD codes contained within HL7 traffic in real time across a heterogeneous environment. The bundle also provides IT teams with a comprehensive list of all applications (sending and receiving) and corresponding interfaces that are using ICD-9 and ICD-10 codes. This real-time visibility and analysis enables IT and business stakeholders to quickly detect areas where migration is incomplete. With this information, IT teams can prioritize and rapidly update applications and interfaces to ensure compliance by the October 1st migration deadline. In the period leading up to the migration, the ICD-10 Audit bundle also provides HDOs the flexibility to code in ICD-9 as needed while still getting ICD-10 coding in place. Given the scope and business ramifications of such a massive change, leveraging the ExtraHop ICD-10 Audit bundle for increased efficiency and business assurance could save HDOs millions.
"I know from many conversations with our healthcare customers that the migration to ICD-10 has been problematic and costly for Healthcare IT," said Jesse Rothstein, CEO, ExtraHop. "With the ICD-10 Audit bundle, ExtraHop is providing these organizations with the real-time visibility they need to effectively assess migration readiness. It also demonstrates the extensibility of the ExtraHop platform, and the power of wire data to deliver actionable insight that can help IT and business better allocate resources, save costs, and improve performance."
The ICD-10 Audit bundle is free for all ExtraHop customers who purchase the ExtraHop Healthcare Edition. To learn more about how ExtraHop optimizes healthcare IT, explore our interactive online demo.