Armed with a new study showing that anticipated ICD-10 compliance costs for physicians may have tripled since a similar study in 2008, the American Medical Association is asking the federal government to reconsider the mandate to adopt the code sets.
AMA commissioned the consulting firm Nachimson Advisors to estimate physician practice ICD-10 costs in 2014. The consultancy also did the 2008 report, which estimated an $83,290 cost for a typical small practice, $285,195 for a medium practice and $2.7 million for a large practice. In 2014, the cost estimates are $56,639-$226,105 for a small practice, $213,364-$824,735 for a medium practice and $2 million-$8 million for a large practice.
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