Here are five things to know from the study.
• The study included input from 276 small physician practices.
• Single practitioners reported an average cost of $4,300 for all activities related to ICD-10 implementation.
• A provider group of six physicians spent an average amount of $11,000.
• Overall, the study found the average cost per provider was approximately $3,430.
• The study also found that physician practices with less than six providers are spending an estimated 45.5 hours on ICD-10 education and preparation per provider.
The study was published in the Journal of AHIMA.
More articles on coding and billing:
Coalition for ICD-10 to host briefing on Capitol Hill
GAO: CMS, stakeholders on schedule for ICD-10 transition
3 signs a physician practice’s revenue cycle management is ailing
At the Becker's 23rd Annual Spine, Orthopedic and Pain Management-Driven ASC + The Future of Spine Conference, taking place June 11-13 in Chicago, spine surgeons, orthopedic leaders and ASC executives will come together to explore minimally invasive techniques, ASC growth strategies and innovations shaping the future of outpatient spine care. Apply for complimentary registration now.
