AMA study: ICD-10 will cost more than previously predicted

In 2008 the predicted cost to implement ICD-10 ranged from roughly $83,300 for a small practice to $2.7 million for a large practice, according to a cost study initiated by the American Medical Association (AMA) and conducted by Nachimson Advisors. However, an updated 2014 study predicts the implementation costs, based on variable factors such as specialty, vendor and software, will range from $56,600 to $226,100 for small practices; $213,400 to $825,000 for midsize practices; and $2.02 million to $8.02 million for large practices.

Source: AMA