Increased Healthcare M&A Activity: Representation and Warranty Insurance Coverage

The business of managing and operating health care facilities has grown increasingly more complex since the enactment of the Patient Protection and Affordable Care Act (PPACA) in 2010 and the Health Information Technology for Economic and Clinical Heath Act (HITECH) in 2009. Each medical facility must conform to a variety of new rules and regulations that include, but are not limited to: the adoption of Electronic Health Records (EHR), and the preparation for the transition to the 10th revision for the International Classification for Diseases (ICD-10) by October 1, 2015. The result has been a dramatic increase in healthcare mergers and acquisitions, as practice and facility budgets are not prepared to absorb the associated costs and additional liabilities. [More]

Coming soon — ICD-10 … “Help!”

As of today, assuming that the Centers for Medicaid and Medicare Services (CMS) doesn’t kick the implementation date down the road again, effective as of October 15, 2015, “The transition to ICD-10 is required for everyone covered by HIPAA or the Health Insurance Portability Accountability Act.” ICD stands for International Classification of Diseases and concerns the medical diagnoses and inpatient procedures that are coded for all hospital procedures. In raw terms, the health-care coding system is transitioning from roughly 15,000 codes to 68,000 codes. [More]