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Are you headed for an ICD-10 crash landing?

A recent HIMSS article suggests that even with the lead time built into ICD-10 there is the very real potential for revenue crippling problems that could affect your bottom line.   

The problem is simple.  If all goes according to plan, every single healthcare entity in the nation will launch ICD-10 on the same day, at the same time.  According to HIMSS, “When problems arise, every organization in the circuit will be affected, with providers at highest risk losing a large percent of revenue. The regulation is counting on all of this to work right the first time it is turned on, which should be a red flag warning to us.”

Are you prepared for an ICD-10 crash landing?  Is the regulation itself written in such a way that it almost guarantees problems?  Are you prepared to handle a possible loss of revenue?

If you’re interested in learning about the current openings Intellect Resources has available, or to list your job openings with us, send us an email.

Read the full HIMSS article here. 

The Black Swan of Healthcare IT?

The Harvard Business Review (HBR) just put forth a great article discussing the common problems encountered when introducing major technology systems.  According to the HBR, 27% of all large-scale IT projects run over budget and do not meet their deadline.  This figure alone isn’t shocking; the real shock is that of the projects that do run over, they on average run over by 200% of budgeted costs and take 70% longer to complete than originally thought!  Additionally, the HBR states that companies on average realize only 25-50% of the projected benefits due in large part to decision makers who have little to no knowledge of how to implement an IT project.  Mismanaged IT projects routinely cost IT managers their jobs and affect so many areas within a company that they can devastate the bottom line.  These catastrophic failures are called Black Swans.

With the Meaningful Use deadline looming now is the time for Hospital systems to stop and consider realistically what it will take to meet those deadlines on-time and on-budget.  Can a Hospital system afford it if their EMR project goes over budget by 200%?  Are Hospital systems planning far enough in advance to allow for deadline overages? Is enough time and care being put into a realistic cost/benefit analysis?  What do you think?

If you’re interested in learning about the current openings available for Project Managers with Healthcare IT experience, please email us.

Read the full HBR article here.