The AMA released a fact sheet assembled by the American Academy of Orthopedic Surgeons, the Medical Group Management Association, the American Academy of Dermatology, the American College of Physicians, and several other groups, saying that the key cost impacts fall in six areas:
- Staff Education & Training costs associated with an ICD-10 mandate would range from $2,405 for a small practice to $46,280 for a large practice.
- Business-Process Analysis of Health Plan Contracts, Coverage Determinations & Documentation range from $6,900 for a small practice to $48,000 for a large practice.
- Changes to "Superbills," a new claim form software, would range from $2,985 for a small practice to $99,500 for a large practice.
- IT System Changes range from $7,500 for a small practice to $100,000 for a large practice.
- Increased Documentation Costs range from $44,000 for a small practice to $1.785 million for a large practice.
- Cash Flow Disruption range from $19,500 for a typical small practice to $650,000 for a typical large practice.
Cheryl Clark is senior quality editor and California correspondent for HealthLeaders Media. She is a member of the Association of Health Care Journalists.