Documentation Costs Associated With An ICD-10 Mandate

MGMA produced a fact sheet on: "Documentation Costs Associated With An ICD-10 Mandate".  This fact sheet highlighted documentation costs for small, medium and large practices.

A "Small" Practice:

• Consists of 3 Physicians, 2 administrative staff.
• ICD-10 mandate for a small practice will cost an estimated: $83,290

A "Medium" Practice:

• Consists of 10 Providers, 1 full-time coder, 6 administrative staff
• ICD-10 mandate for a medium practice will cost an estimated: $285,195

A "Large" Practice:

• Consists of 100 Providers, 64 Coding Staff - 10 full-time coders, 54 medical records
• ICD-10 mandate for a large practice will cost more than an estimated: $2.7 million.

6 Key Areas that ICD-10 will impact:

1. Staff Education and Training
2. Business Process Analysis of Health Plan Contracts, Coverage Determinations and Documentation
3. Changes to Superbills
4. IT System Changes
5. Increased Documentation Costs
6. Cash Flow Disruption

To read the full article, please click the following link: Documentation Costs Associated With An ICD-10 Mandate

For additional billing, coding and reimbursement resources, please click the following link: Medical Reimbursement, Inc. Resources