ICD-10 Conversion Costs Lower than Speculated

ICD-10 Conversion Costs Lower than Speculated

A recent study conducted by 3M Health Information Systems concludes that the costs to implement ICD-10 in small physician practices may be quite a bit lower than many previous estimates.

Apply titled “Cost of Converting Small Physician Offices to ICD-10 Much Lower than Previously Reported,” the study, as published in the Journal of AHIMA (November 2014), concluded that transition costs for small providers are expected to be $1,960-$5,900—much less than estimates of over $100,000 in a 2014 update to a 2008 Nachimson Advisors report to the American Medical Association.

Findings of the 3M study match closely the experiences of AAPC members who responded to a recent AAPC survey (Learn more on the AAPC website). For example, 72 percent of respondents to the AAPC survey said they’ve spent less than $5000, per provider for ICD-10 implementation, while only 2 percent said they had spent either nothing or in excess of $10,000, per provider. These numbers confirm previous AAPC cost estimates for ICD-10 implementation of $750-$3,500, per provider, on average, depending on practice size.

Many respondents also stated that ICD-10 implementation, slated for Oct. 1, has not been as hard as they thought it would be, and that overall it has improved processes and documentation in their practices.

Resource tip: For more information on AAPC cost estimates for ICD-10 implementation, see “ICD-10 Implementation – Where Do We Really Stand?” by Rhonda Buckholtz, AAPC vice president of ICD-10 education and training, ICD10 Monitor, June 9, 2014.

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John Verhovshek

John Verhovshek

John Verhovshek, MA, CPC, is Managing Editor at AAPC. He has covered medical coding and billing, healthcare policy, and the business of medicine since 1999. He is an alumnus of York College of Pennsylvania and Clemson University, and a member of the Asheville-Hendersonville AAPC Local Chapter.
John Verhovshek

About Has 404 Posts

John Verhovshek, MA, CPC, is Managing Editor at AAPC. He has covered medical coding and billing, healthcare policy, and the business of medicine since 1999. He is an alumnus of York College of Pennsylvania and Clemson University, and a member of the Asheville-Hendersonville AAPC Local Chapter.

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