DeVry Education Group Inc. DV recently launched the ICD-10 course to help students opting for its medical coding programs to update themselves on the latest government system recoding system.
International Classification of Diseases (ICD) is a set of alphanumeric codes established by the World Health Organization that are used by hospitals and health systems to describe medical diagnosis, description of symptoms and cause of death.
ICD-10 is the most recently updated version containing 70,000 codes, a significantly higher figure than 13,000 codes included in ICD-9. We note that with electronic medical records increasingly replacing shorthand patient charts, medical coders are expected to find their job more demanding. The new ICD-10 course will help medical coders upgrade their skills to keep up with the increasing work pressure.
Medical coding professionals are required to take the Registered Health Information Technician (RHIT) and Certified Coding Associate (CCA) certification exams. Since these license examinations include ICD-10, DeVry’s students opting for Medical Billing and Coding undergraduate certificate and Health Information Technology associate degree programs will be offered the new course. Students who will be offered this ICD-10 course free of cost include those who have already finished DeVry’s ICD-9 course, and Health Information Technology alum graduating in 2015 who are yet to sit for RHIT exams.
DeVry’s Medical and Healthcare segment continues to perform well owing to growing demand and campus expansions. The segment represented 45% of revenues in fiscal 2015 and is the company’s largest segment.
DeVry’s medical schools produce strong student outcomes, with very low cohort-default rates and high job-placement rates. In addition, these schools have been consistently opening campuses and introducing programs. The programs have already proven to be successful and are making strong contributions to revenues. Latest introduction of the ICD-10 course will further strengthen demand for the Medical Billing and Coding, and Health Information Technology programs in the upcoming quarters, thereby boosting sales
DeVry carries a Zacks Rank #3 (Hold).
Stocks to Consider
Some better-ranked stocks in the education industry include Lincoln Educational Services Corp. LINC, New Oriental Education & Technology Group Inc. EDU and TAL Education Group XRS, each sporting a Zacks Rank #1 (Strong Buy).
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