{"id":564,"date":"2013-02-21T12:27:25","date_gmt":"2013-02-21T12:27:25","guid":{"rendered":"http:\/\/www.medicalbillingstar.com\/blog\/?p=564"},"modified":"2017-02-14T10:45:27","modified_gmt":"2017-02-14T10:45:27","slug":"at-84000-will-icd-10-sound-the-death-knell-for-private-practices","status":"publish","type":"post","link":"https:\/\/www.medicalbillingstar.com\/blog\/at-84000-will-icd-10-sound-the-death-knell-for-private-practices\/","title":{"rendered":"At 84,000$ Will ICD 10 Sound The Death Knell For Private Practices?"},"content":{"rendered":"

Will Your Practice Get Caught, In The ICD 10 Quicksand ?<\/b><\/span><\/h2>\n

ICD 10 is lurking round the corner. 55,000 more codes and an entirely new coding structure<\/a> is no stroll in the park. \u00a0Medical practitioners might just be thrown of track. It is being feared, that it could be a deathly blow to practices, which operate on small budgets. Small medical practices will be forced to align with hospitals to survive in this tough economic climate.<\/p>\n

\"ICD-10-Medical-Coding-Infographic\"<\/a><\/p>\n

Another Nail In The Coffin For Small Practices\u2026<\/b><\/span><\/h2>\n

ICD 10 is being likened to Y2K. Though it petered out eventually and died a natural death, the panic and havoc it caused still remains fresh in people\u2019s memories. But with ICD 10 coding<\/a> we may not be as lucky. It is highly unlikely that ICD 10 will be postponed once again. Or like what most medical practitioners, pray for nowadays, simply disappear.<\/p>\n

ICD 10 Comes With An 84,000 $ Price Tag \u00a0!<\/b><\/span><\/h2>\n

Don\u2019t gasp! That is the figure put down by the MGMA. For the small practice that is barely making ends meet, this is an astronomical amount. Consolidation is the only glimmer of hope. But it can prove to be a double edged sword. As physicians will lose their freedom to decide their working hours and make key clinical decisions, independently.<\/p>\n

It seems to be a throwback to the 80\u2019s when there was a mad scramble to partner, align and consolidate.<\/p>\n

And The Price Is Not The Only Headache\u2026 <\/b><\/span><\/h2>\n

If the fear of hogging headlines is the major fear of big hospitals. To keep the lights on in the building is the biggest challenge of small and medium practices. A few of the challenges that ICD 10 throws in the face of medical practitioners are:<\/p>\n