The following excerpt was originally posted on HealthcareItNews.com, on February 10th, 2015:
"A new survey of ICD-10 implementation costs in small physician practices in the Journal of AHIMA again raises doubts about the accuracy of previous reports estimating the financial costs of transitioning to the new code set.
These new data come by way of the Professional Association of Health Care Office Management (PAHCOM), which specializes in working with physician practice managers.
As Blanchette et al. indicate, respondents to the PAHCOM survey first provided specifics about the number of providers in the practice, practice average expenditures, and per provider average expenditures.
“Generally, as expected, the expenditures associated with ICD-10 increase as the size of the practice increases, but the per provider expenditures decrease as the size of the practice increases,” the authors write. “The per provider ICD-10 average expenditures ranged from $4,372 for a practice with a single provider to $1,838 for a practice with six providers.”"