Advanced Revenue Cycle Analytics: An Overview

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.