3M Health Information Systems, a business of 3M Health Care, today issued a statement following Congressional passage of bill H.R. 4302 to patch the Sustainable Growth Rate ("SGR" or "Doc Fix"). The bill, signed into law on April 1, 2014, delays ICD-10 implementation until October 2015.
Jon Lindekugel, president of 3M Health Information Systems commented:
“The vote to delay ICD-10 is a vote for the past, not the future of health care. If we are to improve patient outcomes and safety, enable modern-day research, promote innovations in healthcare delivery, and achieve cost-saving efficiencies, the healthcare industry must have access to higher quality information afforded by ICD-10 coded data. This is 3M’s vision for the future and one we share with the majority of the healthcare community – hospitals, health plans, coding experts, vendors, and medical device manufacturers. 3M will continue to invest in and commit extensive resources to developing ICD-10-ready products and services for our customers.”
Richard Averill, senior vice president and research director, 3M Health Information Systems stated:“Never in U.S. history have we used the same version of the ICD codes for 35 years. The Congressional vote to delay ICD-10 puts U.S. health care years behind the rest of the world, which has been using ICD-10 coded data for more than a decade. Without ICD-10 data, there will be serious gaps in our national healthcare community’s ability to extract important patient health information needed to advance initiatives such as Meaningful Use, value-based purchasing, payment reform and quality reporting.” 3M Health Information Systems is a member of the Coalition for ICD-10, a broad constituency of organizations, including hospitals, health plans, hospital and physician office coding experts, professional associations, vendors and the health information technology (HIT) community. Members of the Coalition support ICD-10, citing its importance to improving quality measurement, clinical research, public health surveillance, and healthcare payment. The Coalition for ICD-10 maintains that further delay will be disruptive and costly for all members of the healthcare community. About 3M Health Information Systems3M Health Information Systems delivers intelligent software and consulting services that are used by hospitals and health systems, commercial payers, and federal and state agencies to compile, classify, and analyze health information. 3M solutions for computer-assisted coding, clinical documentation improvement, data interoperability, performance monitoring and quality outcomes reporting help organizations achieve better clinical and financial performance.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV