ICD-10 More Expensive Than Previously Estimated

According to an American Medical Association-funded report, implementing ICD-10 will be more expensive than previously estimated. In addition, the costs will vary widely depending on practice circumstances. New estimates for ICD-10 implementation range from $56,639 to $226,105 for small practices, $213,364 to $824,735 for medium-sized practices, and about $2 million to more than $8 million for large practices. Researchers say that the costs are related to vendor/software upgrades that will be needed to implement ICD-10. The researchers also added that practices at the low end of the implementation-cost range are most likely those that currently “have in place maintenance agreements that require vendors to make sure their systems are always in regulatory compliance.”

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  1. Pingback: Monday Morning Recap | hmsabc

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