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The healthcare industry has reached an inflection point. Advances in medicine and the efforts to deliver effective care have led to rapidly escalating costs. However, ICD-10 has the potential to turn a compliance requirement into meaningful and profitable administrative simplification. ICD-10 can serve as a springboard to upcoming healthcare reforms (EHR adoption, better fraud and abuse monitoring, pay-for-performance, etc.) and will enable increased efficiency and lower costs. This compliance requirement offers an opportunity for healthcare organizations to gain a competitive advantage. In this session, presenters will: • Establish clear understanding of the basic requirements; • Provide an overview of strategy definition, planning, executive sponsorship, communication, education, business analysis, and industry collaboration; • Describe some best practices that payers and providers should adopt for implementing ICD-10, including sequencing and coordination of implementation efforts following a rational transition plan to avoid systemic disruptions; • Describe how some implementation tools, such as standardized crosswalks, can be used by payers and providers in the compliance process; • Show how to prioritize against other HIPAA implementation efforts to accelerate health information technology adoption and health information exchange; • Provide an understanding of the impact of ICD-10 on the interactions of each entity involved in the delivery of care from direct providers (treating physician, nurses, etc.) to indirect providers (clinical labs, radiologists, pharmacists, etc.) to facilities (hospitals, outpatient clinics, etc.) to claim adjudicators and payment processers (clearinghouses, health plans, etc.); and • Describe the consequences for failing to act quickly to achieve adoption of ICD-10.