Is icd 10 proving to be too expensive for small practices
Is ICD 10 Proving To BeToo Expensive For Small Practices ? Presented by Angomark, MedicalBillingStar
Will Your Practice Get Caught, In The ICD 10 Quicksand? 55,000 more codes and an entirely new coding construction is no amble in the park. Small medical practices will be forced to align with clinics to endure in this tough economic climate.
Another Nail In The Coffin For Small Practices…ICD 10 is being associated to Y2K.It is highly unlikely that ICD 10 will be postponedonce again. Or like what most medicalpractitioners, pray for nowadays, simply disappear .
ICD 10 Comes With An 84,000$ Price Tag ! Don’t gasp! That is the figure put down by the MGMA. For the small practice that is barely making ends meet, this is an astronomical amount.
And The Price Is Not The Only Headache… If the fear of hogging headlines is the major fear of big hospitals. To keep the lights on in the building is the biggest challenge of small and medium practices.
A Few Challenges That ICD 10 Throws in The Face of Medical Practitioners Loss of productivity . A hit in the coders efficiency and working hours during the transition. Expensive system upgrades.
Why ICD 10 is Nothing Like Its Timid Cousin ICD 9 141,000 codes Longer alphanumeric codes More emphasis on exact clinical documentation 5,500 small hospitals will be affected Comes at a price tag of $84,000
Who Will, Reach The Finishing Line… Only 36% of 722 physicians surveyed are ready for ICD 10 Small practices will be hit the hardest Over $2000 needed for education alone $20,000 could be the cash flow disruption while implementing
How To Survive Without Sinking ! Focus on clinical documentation Hold training sessions Verify if your EMR is compatible Sit with your biller to redesign super bills Consider outsourcing coding tasks
5 Questions You Need To Ask Your Vendors ! Have you upgraded your systems to HIPAA 5010? Can you offer online coding support? What resources do you use? What is your risk mitigation plan? Can you help me scale down on costs?
Thank You For taking the next big leap with a trusted ICD-10 Medical coding partner visit ushttp://www.medicalbillingstar.com/ or touch base with us anytime @ 1-877-272-1572