The Cost of ICD-10 Implementation
  • Physician Dispensing

    Physician Dispensing is one of the easiest ways to generate ancillary revenue for your practice!

    read more
  • Cash and Carry Dispensing

    Cash & Carry Dispensing involves no insurance processing.

    read more
  • Workers Compensation

    Worker’s Compensation Dispensing is fast and convenient for the patients!

    read more
  • Commercial Claims Processing

    Learn how to electronically process pharmacy claims directly with payers!

    read more
  • Dispensing Software

    Physician Dispensing Software Manages Inventory and Helps You Stay Compliant

    read more

The Cost of ICD-10 Implementation

No matter who you ask, ICD-10 implementation is costing practitioners a significant amount of time, money, and resources. The AMA estimates that a small practice could spend between $56,639 and $226,000 just implementing the new coding. Ancillary revenue generated from programs like physician dispensing services can significantly help practices pay for fees incurred during the transition period.

Practices can expect to see a rise in denials from miscoding or other process errors.  These could lead to an increase in delayed payments from insurance companies. Physicians should have a financial plan in place to keep their practice in operation during transition periods.

Having a financial plan in place that focuses specifically on cash flow is a good strategy to implement. Healthcare Reform is always changing, and the importance of cash flow should always be at the forefront.

Written by admin

No Comments Yet.

Leave a Reply

Message