A cost analysis estimates that the switch to ICD-10 (via Dr. Val) will cost over $80,000 for a small practice with three physicians.
Just what doctors need, with declining reimbursements and the pressure to adopt expensive electronic records.
To put that in context, the upcoming change will “have a greater financial impact than some other high-profile federal mandates, including the National Provider Identifier number and the Health Insurance Portability and Accountability Act.”
Worse, get ready for more paperwork and longer hours as “physicians would incur permanent additional costs associated with more rigorous documentation that would increase each physician’s workload by up to 4 percent.”
If you’re a medical coder, get ready for a boom in business. Everyone else isn’t so lucky.
topics: icd-10, coding
