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The costs of transitioning to ICD-10

Over at the Practice Fusion Blog, there’s a fascinating (and scary!) post about the financial hit that small practices will take in transitioning to ICD-10. The post was written by Cara Buckhaulter and Kevin McCarthy at NueMD, a billing software company that has partnered with Practice Fusion.
How Much Will the ICD-10 Transition Cost My Small Practice?

Though they don’t break it down into specific components, the authors estimate that a well prepared small practice “might be able to survive the transition for as little as $10K-25K”.

Does this seem reasonable to you? What steps have you been taking to try to prepare?

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