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St. Paul, Minnesota – August 19, 2010 – Smart Data Solutions, a Minnesota-based provider of data processing solutions for the health care industry, has just completed a survey assessing industry readiness for the 5010 conversion deadline. The survey was sent earlier this month to a list of 2,500 of Smart Data’s contacts, including TPAs, PPOs, insurance companies and Blue Cross organizations.
The survey results indicate that real progress is being made in planning for the conversion. In fact, more than 70% of respondents indicated that their planning is underway. But when asked whether or not they understand how the 5010 changes will impact their work, only 44% responded that they understood it very well.
Interestingly, 26% of respondents answered that their planning is not underway, and that planning will not begin for another three to six months, Of those, the majority claimed they were waiting for information or clarification from a vendor.
Overall, nearly half of respondents were neutral or dissatisfied with their key vendors’ communication on the topic. Nearly 70% reported that they’d like to receive regular updates on legislation and best practices to help them anticipate and plan for the 2012 deadline.
“Smart Data is closely watching the industry’s planning process,” explains Smart Data’s co-owner, John Prange. “In this economy, we know that expensive software and hardware upgrades are not the solution. We’re confident that our 5010 EDI builder and parser modules can streamline the conversion for a fraction of the cost, allowing customers to accept the 5010 standard, convert and re-route in any desired format.”
The 5010 implementation has been mandated by the government and is necessary to support the expanded ICD-10 codes set. All healthcare organizations – from payers/networks to claims vendors – will feel eventually the impact of these new initiatives.
For a copy of the survey, or to discuss your 5010 conversion needs, call Pat Bollom at 651-690-3140 or email pbollom@sdata.us.
In a field as dynamic as health care technology, Smart Data stands out for its stability and growth. For more than ten years, Smart Data Solutions Inc. has been leveraging technology to meet the needs of health care claims managers. Today, more than 100 TPAs, PPOs, HMOs, hospitals and insurance companies depend on SDS technology to save money and streamline their business. From paper processing to claims management and EDI, Smart Data Solutions offers the solutions critically needed by today’s health care industry. For more information please visit our web site at http://www.localhost:10003, contact Pat Bollom at 651-690-3140 or email pbollom@sdata.us.