International Classification of Diseases (ICD) -10 is a new system, launched in October 2015 by the World Health Organization (WHO).
New York, NY -- (SBWIRE) -- 09/18/2017 -- International Classification of Diseases (ICD) -10 is a new system, launched in October 2015 by the World Health Organization (WHO). It classifies and monitors diseases, their symptoms, and track causes of injury and abnormal findings. ICD-10 uses codes to classify the diseases.
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These codes are used to provide better information of diseases thus helping in improving the quality of patient care. For instance, data captured by ICD-10 can help to provide better understanding of complications and help to frame clinically robust algorithms.
The applications of ICD-10 include noting diseases on health records, tracking the trends in epidemiology, and assisting in decisions made for medical reimbursement. The WHO develops and publishes these ICD-10 codes, and institutions such as governments and regulating bodies adopt it.
In the U.S., ICD-10 has been split into two systems. This includes ICD-10-CM (Clinical Modification) which is used for diagnostic coding. Second is ICD-10-PCS (Procedure Coding System) which is used for inpatient hospital procedure coding. The U.S.-specific ICD-10 conform to WHO's ICD-10 layout as well as allowing the addition of other details found in U.S. healthcare.
Before ICD-10 was adopted on October 1st 2015, ICD-9 was in use in the U.S. However, the need for more elaborate listings of diseases and conformity to modern healthcare practices gave rise to the implementation of ICD-10. ICD-10 codes offer more number of classification options as compared ICD-9.
U.S. ICD-10 Market: Drivers and Restraints
Need for quality measurement and medical error reduction for the safety of patients led to the improvisation of ICD-9 and creation of ICD-10. ICD-10-CM contains 69,000 diagnosis codes as compared to 14,000 codes of ICD-9-CM. This captures the specificity of the problem more accurately. ICD-10 also provides a large number of combination codes in comparison to ICD-9 which had limited combination codes.
Secondly, need for a large amount of medical data for the purpose of clinical research also drives the demand for ICD-10. With the availability of all the information at one place, it becomes easy to extract information for clinical research.
However, the implementation of ICD-10 across the country by healthcare providers proves to be very costly. This is because each healthcare provider has a minimum of 100 physicians under it along with other entities in the chain. Therefore, implementing it across the chain becomes very expensive for the providers.
Global ICD-10 Market: Market Segmentation
Segmentation on basis of type:
The major types of ICD-10 include:
ICD-10-CM (Clinical Modification)
ICD-10-PCS (Procedure Coding System)
ICD-10-CM diagnosis coding is for use in all the U.S. healthcare settings while ICD-10-PCS inpatient procedure coding is for use in the U.S. hospital settings.
Segmentation on basis of End-user:
The major segments of End-user in this market include (within the healthcare industry):
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U.S. ICD-10 Market: Key Players
The World Health Organization (WHO) is the sole developer and publisher of ICD-10 codes, while the system is adopted by government agencies and other regulating bodies.