AMA: ICD-10 Costs More Expensive Than Prior Estimates

ICD-10 implementation costs will be more expensive--in some cases more than three times previous cost estimates--for physician practices, according to updated research published Wednesday by the American Medical Association.

The study, an update of research published in 2008, predicts that small practice costs will range anywhere from $56,639 to more than $226,000. Medium practices, it estimates, will pay between $213,364 and $824,735 for implementation; costs for large practices are predicted to run between $2 million and $8 million.

"These figures indicate that physician practices face significant costs with ICD-10 implementation, and especially the risk of payment disruptions," the report's authors say. "A poorly executed ICD-10 implementation effort will increase those risks and expose practices to large costs in 2014 and beyond."