The information in this article was provided by trainRX in their October Newsletter. ICD-10 - 12 months left to meet the Oct. 1, 2014 Deadline! Let's take a look at the true cost of this complex conversion to ICD-10 The true cost of the ICD-10 transition may not be as easy to calculate as you think. Take a look at the list below to make sure you've put everything in your budget.
Testing related costs
Staff time needed for:
Training and Testing
Temp staffing to assist with extra work resulting from:
Decreased Coding Productivity
Claims Denial and Rejection Management
IT and System Upgrades
Time Lost during Training
Forms and Reports
Maintaining Data collection
Not all costs are direct costs, purchases and fees. Time is money. Right? - Indirect costs can drain resources. Either you will have to pay labor costs to fill in the work required to manage and implement the ICD-10 tasks or accept the loss of productivity. Review the Rands Survey HERE for The Cost and Benefits of Moving to ICD-10 Code Sets. This is a complex conversion, but you still have time to meet the deadline! If you need a Step-by-Step System contact www.trainrx.net. They have the only complete ICD-10 system in the United States that is Turn Key!. TrainRX has made this process so easy, it's literally...Fill in the blank!