Cost effective ICD-10 implementation CureMD 10:41

In a new study by American Medical Association (AMA), ICD-10 implementation will cost the providers three times more than previously estimated. Centers for Medicare & Medicaid Services (CMS) Administrator Marilyn Tavenner have made it clear that there will be no more delays regarding the ICD-10. So what practices need to do in order to make the ICD-10 transformation more cost effective?

Practice ICD-10 codes

There is a large volume of ICD-10 codes but your practice doesn’t need to remember all the codes. Practices have to only use those codes that are specific to their specialty. There are many tools out there providing free ICD-10 conversion. Many EHR vendors are providing both ICD-9 and ICD-10 codes to their clients so that they can become familiar with ICD-10 codes before the deadline.

Make a training plan

Make a training plan for your practice so your practice can start practicing the ICD-10 codes at the earliest. Set goals and training timelines. Consistently test your staff regarding the ICD-10 codes and encourage them to get themselves acquainted with these codes before the October deadline. ICD-10 will affect every member of the practice so everyone needs to have a sufficient preparation to make the difference. Starting the ICD-10 training as soon as possible will benefit the practices in the long run as it will save them money.

Keep your EHR software ready

According to the AMA study, software upgrades makes up larger percentage of total costs associated with the ICD-10 implementation. The costs associated with software upgrades ranges from $60,000 for a smaller practice to $2,000,000 for a larger practice. Making a right decision about choosing the EHR software helps practice to allocate more resources towards the training and can help them save costs if their vendor upgrades their EHR software for free.