Kforce Survey Reveals 70 Percent of Healthcare Organizations Moving Ahead With ICD-10 Efforts
Published on Tuesday, 05 June 2012 07:56 Written by TradersHuddle Staff
TAMPA, Fla., June 5, 2012 (GLOBE NEWSWIRE) -- Kforce Healthcare Solutions, a wholly owned subsidiary of Kforce Inc. (Nasdaq:KFRC), recently surveyed more than 300 healthcare professionals on their organization's ICD-9 to ICD-10 transition readiness. Seventy percent of respondents said the Center for Medicare and Medicaid Services' (CMS) proposed rule to move the compliance date to 2014 will not affect their decision to continue progress with ICD-10 planning and implementation efforts.
Furthermore, 35 percent of healthcare professionals surveyed said their organizations already have an effective ICD-10 steering committee in place, however, 60 percent of those surveyed believe that physician cooperation may be the biggest challenge of ICD-10 implementation.
In a recent ICD-10 readiness assessment, Kforce Healthcare Solutions and Quorum Health Resources (QHR) found that a 300-bed hospital was unsure of the full impact that the ICD-10 transition would have on its personnel, budget and systems. After completing the assessment, Kforce Healthcare Solutions and QHR discovered the ICD-10 transition would affect 16 IT systems and more than 700 employees at the hospital, further highlighting the potential cost implications, productivity loss and staffing gaps associated with an ICD-10 transition.
"The CMS' proposed rule to modify the ICD-10 compliance date now allows healthcare facilities who have yet to focus on the ICD-10 transition to put more emphasis on planning for ICD-10 implementation," said Keith Fulmer, Kforce Healthcare Solutions Executive Vice President. "Additionally, moving the ICD-10 compliance date to 2014 gives facilities the ability to spread the costs of ICD-10 planning over the next two fiscal years."
About Kforce Healthcare Solutions
Kforce Healthcare Solutions is a division of Kforce Inc. (Nasdaq:KFRC), a professional staffing and solutions firm. Kforce Healthcare Solutions provides consulting, project solutions and contract resources. Kforce works with over 500 healthcare providers nationwide. For more information, visit http://www.kforce.com/Healthcare-Solutions.
Kforce (Nasdaq:KFRC) is a professional staffing and solutions firm providing flexible and permanent staffing solutions in the skill areas of technology, finance & accounting and health information management. Backed by more than 2,200 associates and approximately 10,300 consultants on assignment, Kforce is committed to "Great People = Great Results" for our valued clients and candidates. Kforce operates with 63 offices located throughout the United States and one office in the Philippines. For more information, please visit our website at http://www.kforce.com
The Kforce Inc. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=3749
Certain of the above statements contained in this press release are forward-looking statements that involve a number of risks and uncertainties. Such forward-looking statements are within the meaning of that term in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Factors that could cause actual results to differ materially include the following: business conditions and growth in the staffing industry and general economy; competitive factors, risks due to shifts in the market demand, including, without limitation, shifts in demand for our Technology, Finance and Accounting, Health Information Management and Government Solutions segments, as well as the market for search and flexible staffing assignments; changes in the service mix; ability of the Firm to complete acquisitions; and the risk factors listed from time to time in the Firm's reports filed with the Securities and Exchange Commission, as well as assumptions regarding the foregoing. In particular, there can be no assurance that we will continue to increase our market share, successfully manage risks to our revenue stream and successfully put into place the people and processes that will create future success. The words "should," "believe," "estimate," "expect," "intend," "anticipate," "foresee," "plan" and similar expressions and variations thereof identify certain of such forward-looking statements, which speak only as of the dates on which they were made. The Firm undertakes no obligation to publicly update or revise any forward-looking statements. As a result, such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, and actual results may differ materially from those indicated in the forward-looking statements as a result of various factors. Readers are cautioned not to place undue reliance on these forward-looking statements.
CONTACT: AT THE FIRM: Michael Blackman Chief Corporate Development Officer 813-552-2927 MEDIA INQUIRIES REGARDING THIS RELEASE: Danielle Rotolo Copywriter & Public Relations Manager 813-552-3469
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