ICD-10 compliance postponed until 2013
Monday, 9. February 2009
The approaching switch to ICD-10 codes in 2011 has been making physicians and billers nervous for some time now, so the recent news that the compliance deadline has been postponed for two years will come as a relief to many. This change, released as part of a Medicare regulation in the final days of the Bush administration, gives consideration to the high cost of the switch to practices in this current economic downturn. MGMA has estimated the price tag for upgrading to the more extensive, detailed codes to be about $84,000 for a three-physician practice. MGMA’s cost estimate includes $7,500 in practice management and medical billing software upgrades – although this estimate assumes that physicians are using client-server technology. If you get free upgrades with your Internet-based practice management software, you’ll save that $7,500 instantly.
Felicia Says:
Personally I am very happy that this is being postponed. I just finished my medical billing/coding training and I am just getting used to the code books that I have been learning from. At least I can now get used to what I have learned and then as time goes on I will begin to prepare myself for the change by attending workshops, seminars, etc. If these are going to be wide spread changes to what I have already learned I will take the time to enroll back into the school I graduated from and take a course on it. Thanks for the information.
Felicia