How Much Will ICD-10 Cost Your Practice #ICD10 #ICDRemediator #ICD10Matters #HealthIT

How Much Will ICD-10 Cost Your Practice

By Katie Wike, contributing writer



Initial reports estimated an ICD-10 implementation would be accompanied by a hefty price tag, but a more recent evaluation found costs might not be as high as initially believed.



Health IT Outcomes reported ICD-10 preparation could be costly for providers, especially those in small practices. These estimates predicted the cost could be as high as:



$56,639 to more than $226,000 for small practices

$213,364 to more than $824,735 for medium practices

$2 million to more than $8 million for large practices



“These figures indicate that physician practices face significant costs with ICD-10 implementation, and especially the risk of payment disruptions,” the report's authors at the AMA said. “A poorly executed ICD-10 implementation effort will increase those risks and expose practices to large costs in 2014 and beyond.”





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