Physicians who have read the American Medical Association’s estimates of projected ICD-10 implementation expenses for most practices have plenty of reasons to be concerned. According to the AMA, between the initial 2008 estimates and the updates in 2014, cost estimates increased threefold from a low of around $56,000 for single-provider practices to nearly $226,000. A medium practice of six to 10 providers could pay between $213,300 and $824,700, with costs for larger practices running into the millions: between $2 and $8 million, according to the latest estimates.
Other groups, such as the American Health Information Management Association (AHIMA), put the figures considerably lower $4,372 for single-provider practices and around $11,028 for those with six providers, calculated at $1,838 per provider. AHIMA reminds providers that the old ICD-9 codes weren’t developed with reimbursement in mind, one reason behind many reimbursement headaches.