Still looking for the officials name Karen something or other...... but here is a quote from Healthcare Finance Industry article “Dollars and Sense, Mitigating Budget Risk For ICD 10” dated February 1, 2013
“Potential Budget Risks
A significant number of tasks and activities should be accounted for in an organization’s ICD-10 budget, from assessment to remediation to system/process/policy upgrades to post-compliance remediation. These 10 areas can help prepare an organization for the work ahead. As healthcare finance leaders delve deeper into the ICD-10 preparation process, this list can be customized for their organizations’ needs.
Risk No. 1: Insufficient cash-on-hand. Because the projected fiscal impact of CD-10 will be different for each organization, there is no correct answer as to how much cash on hand is required to support the transition to ICD-10. Estimated requirements range from six to 12 months of cash on hand,
The HIMSS ICD-10 PlayBook, a blueprint for provider and payers ICD-10 implementation, recommends that practices should have a minimum of six months of cash reserves to mitigate revenue impacts during the transformation period.
Thank you...that should help.