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Athenahealth Announces First-Ever ICD-10 Guarantee By HIT Vendor

Stocks in this article: ATHN

WATERTOWN, Mass., June 5, 2013 (GLOBE NEWSWIRE) -- athenahealth , Inc. (Nasdaq:ATHN), a leading provider of cloud-based services for electronic health record (EHR), practice management , and care coordination, today announced that it will guarantee the ICD-10 transition for new clients who are live before June 30, 2014. This means that by the government's deadline, all new clients on athenahealth's cloud-based practice management, EHR, and patient communications services—athenaCollector ®, athenaClinicals ®, and athenaCommunicator ®—will be ICD-10 compliant or athenahealth will waive its fees until the compliance standard is met. athenahealth will also backstop the revenue cycle for independent practices by providing a cash advance against submitted claims, if those claims are delayed by payers in the ICD-10 transition period.

ICD-10 is an updated set of procedure and medical diagnosis codes that all health care providers must use by October 1, 2014. The new, more granular code set is one of the largest transformations the industry will experience, making it a top concern for today's caregivers. Early findings from the Physician Sentiment Index™, an athenahealth and Epocrates annual survey of more than 1,200 U.S. physicians to be released later this Summer, reveal that about 33 percent of physicians are "not at all confident" or "not very confident" in their practice's ability to make a smooth transition to ICD-10 requirements.

In light of physicians' low level of confidence, athenahealth is guaranteeing ICD-10 readiness. Specifically, athenahealth will monitor staff progression, payer testing, lab testing, clearinghouse testing, and take on other ICD-10 related work to ensure its clients thrive through the coding transition. "ICD-10 ready" means that athenaCollector and athenaClinicals clients will be able to send ICD-10 compliant claims irrespective of individual payer readiness and easily select ICD-10 diagnosis codes in athenaClinicals, while athenahealth works diligently to get claims adjudicated in a timely manner. Should athenahealth not be able to meet these conditions, the company would waive all fees until such time that it is compliant.

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