ICD-10

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ICD-10 Costs for Physician Practices

In 2008, Nachimson Advisors published a landmark paper projecting the cost of implementing ICD-10 in physician practices.  On February 12, 2014 an updated study was published with additional details and revised projections.  The study projects total ICD-10 costs to range from $21,000 - $82,000 per provider.

The full study is very detailed and can be found here:

http://www.ama-assn.org/resources/doc/washington/icd-10-costs-for-physician-practices-study.pdf

A few key points from the study:

  1. The study focuses exclusively on ambulatory practices
  2. 66% of practices will be charged by their EHR vendor for an ICD-10 compliant version
  3. 60% of practices will be charged by their PM vendor for an ICD-10 compliant version
  4. The average cost from EHR/PM vendors for ICD-10 upgrades is $10,000 per provider
  5. Coder productivity is expected to decrease by 10% in ambulatory practices
  6. CMS expects denials to increase by 100%-200%
  7. "Pre-Implementation" expenses will be between $6,500-$32,000 per provider
  8. The majority of Pre-Implementation expenses are Vendor/Software Upgrades and Testing
  9. "Post-Implementation" expenses will be between $15,000-$50,000 per provider
  10. The majority of Post Implementation expenses are Productivity and Cash Flow Disruption

See how White Plume protects Physician Productivity and Cash Flow, watch this video or register for one of our free ICD-10 Webinars.

ICD-10 is Coming, White Plume can Help

Given the letters CMS sent to AHIMA and AMA last month, it seems clear there is no intention to delay the ICD-10 conversion again.  With less than 7 months before October 1, 2014, the time to prepare is now.  Preparation involves more than just system upgrades.  Practices need to consider how physicians will be impacted, specifically in the areas of charge capture and documentation.  Then take the next step to determine how changes in those two areas will impact the revenue cycle.     

Trinity Health in Minot, ND is one of White Plume’s recent implementations who recognized the need to plan for the conversion to ICD-10.  The paper superbill is a simple and productive tool for physicians, but ICD-10 threatens the paper superbill and physician muscle memory.  White Plume’s solutions help Trinity Health re-think their charge capture process, while preserving physician productivity, and revenue cycle efficiency.  Trinity’s Business Services Director, Rhonda Johnson, said, “We are impressed by how White Plume is prepared and ready to handle the transition to ICD-10, especially from the physician’s point of view.”

Join Trinity Health and White Plume’s numerous other clients that are evaluating these crucial processes in their practice and preparing for ICD-10 now.

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ICD-10 Threatens 

Physican  Productivity

and Cash  Flow

Learn More

START IMPROVING YOUR PRACTICE TODAY.  Contact us for additional information.

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