ICD-10 Effects on Physician Reimbursements
The physicians in Europe faced a significant redistribution of fee revenues when ICD-10 was introduced in 1996. Experts expect the same in the US as providers underestimate the consequences of complex clinical documentation. Only digital systems that support the selection and specification of the correct ICD-10 codes will ensure a stable and steady cash flow.
Citations from CMS publications:
These are the expected consequences:
2013: A Very Successful Year for the ifa Group
On January 28, ifa systems AG published the report for the fourth quarter of the previous year and the full year of 2013. In the last three months of the year Company performance went up by approx. 23% compared to the previous year. The annual result (EBIT = Earnings before Interest and Tax) improved by approx. 64% to around EUR 1.6 million.
The ifa management states: "Our investments in product and market development over the past few years are paying off. That goes for the positive Cash Flow as well as the successful international pilot projects in Europe, US and Asia. Of course we are also very happy for all the shareholders, who can expect significantly higher dividends over the previous year. In addition to the Management, many staff members, clients and partners also hold substantial share amounts. This provides a solid basis for continuity and identification with the Company, also in the years to come."
AAO Meeting in New Orleans: ifa team reports about high user satisfaction
Health IT was a “hot” topic at the annual congress of the American Academy of Ophthalmology (www.aao.org). In the US all physicians are facing a paradigm shift regarding documentation and billing. The new requirements include the transition process from ICD-9 to ICD-10. Guido Niemann, CEO of ifa systems AG: ”The new challenges for the US can only be managed with comprehensive digital solutions. We introduced the ifa IMS project (IMS stands for ICD-10, Meaningful use, SNOMED) with very positive feedback from our users. Their satisfaction is our most important marketing tool and we have been impressed by the support of our customers with testimonials and presentations at our booth.”