Advanced Search

Home Health & Hospice Week

Work ICD-10 Costs Into Your Budget

Published on Tue Aug 10, 2010

You'd better start figuring ICD-10 transition costs into your ever-shrinking budget. "The October 1, 2013 deadline for implementing ICD-10- CM/PCS is fast-approaching, and a lot of work needs to be done," warns the American Health Information Management Association. "The transition will be expensive." "Budgeting appropriately is a challenge because the implementation involves many types of expenses over multiple years," AHIMA says. You should plan for costs related to hardware, software, training, communication, support services, and productivity loss, the organization advises in a release. Tip: "Add to a contingency reserve each year to guard against unexpected costs or temporary productivity losses," AHIMA says. An article on budgeting for ICD-10 is in the September issue of Journal of AHIMA at journal.ahima.org.
You’ve reached your limit of free articles. Already a subscriber? Log in.
Not a subscriber? Subscribe today to continue reading this article. Plus, you’ll get:
  • Simple explanations of current healthcare regulations and payer programs
  • Real-world reporting scenarios solved by our expert coders
  • Industry news, such as MAC and RAC activities, the OIG Work Plan, and CERT reports
  • Instant access to every article ever published in Revenue Cycle Insider
  • 6 annual AAPC-approved CEUs
  • The latest updates for CPT®, ICD-10-CM, HCPCS Level II, NCCI edits, modifiers, compliance, technology, practice management, and more

Other Articles in this issue of

Home Health & Hospice Week

View All