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 ICD-10 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!