Replies to post #1402 on CodeSmart Holdings Inc (fka ITEN)

[hotstocked23]

ICD-09 is available now. ICD-10 will be available in 2015. ITEN's share price will only increase as we get closer to the availability of ICD-10.

Obama-Care "ACA" is supported by -CodeSmart Holdings Inc., to which Codesmart Holdings Inc., is to provide medical coding training required by the Affordable Care Act."

CODESMART™ UNIVERSITY is endorsed by over 60 colleges and universities nationwide for its quality of education. The CODESMART™ Group, Inc. also provides solutions for ICD-10 transition, outsource coding, coding audits, critical documentation improvement and the revenue cycle continuum.


Provides Medical Coding Tradining Rrequired by the Affodable Healthcare Act to make the following Health Care Insurance companies function:

1.Umana (HUM)
2.Cigna (CI)
3.WellPoint (WLP
4.Aetna (AET)
5.UnitedHealth (UNH)

The differences between ICD-9 and ICD-10 are significant, for example, ICD-10 has seven alpha-numeric characters and totals over 155,000 possible codes, while

ICD-9-CM codes are only three to five numeric digits and total approximately 14,000 codes. Given these increased number of codes, greater number of potential characters per code, and increased code specificity, it will require significant planning, training, and upgrades industry-wide for the transition to be made by the October 1, 2014 deadline. The penalty providers will receive for submitting an incorrect code for reimbursement: non-payment of the claim.

ICD-10 will impact every aspect of a healthcare provider’s organization. It will require a massive wave of system reviews, new medical coding or extensive updates to existing software, and changes to many system interfaces.

ICD-10 implementation has the potential to be so profound that it will touch all operational systems and procedures of the core payer administration process and the provider revenue cycle. Also, there will be huge talent gap because of ICD-10. Productivity of coders will drop by over 50% like it did in other countries who transitioned to ICD-10.

Additionally, 40 million new patients are coming into the system because of the Patient Protection and Affordable Care Act (Obamacare).

All of this results in a huge vacuum of talent in medical coding and there will be a shortage of over 4 million medical coders over the next few years.

The need to educate the entire healthcare industry and bring over 4 million people into coding will create an ongoing and sustainable business for on-line ICD-10 education programs like CodeSmart University and create the need for outsourced coding in a big way. In addition, to remain certified, coders will need continuing education every year and there will be constant changes to ICD-10 over the next 10 plus years.

A study recently conducted on 63 hospitals by The Lott QA Group, one of CodeSmart’s strategic partners, revealed that 73% of the ICD-9 coding was inaccurate.

ICD-10 will only multiply the problem exponentially. The OIG (Office of the Inspector General) says medical coding needs to be 95% accurate, this all translates into loss of revenue or a compliance problem, the shortage of coders will be monumental as many will retire and the remaining coders will have to specialize. Every healthcare provider will have to outsource a portion or all of their ICD-10 transition to a consulting company who specializes in ICD-10.

CodeSmart is a leader of only a handful of companies uniquely positioned to provide the whole continuum of necessary solutions in ICD-10 to healthcare providers.