Benefits of Electronic Medical Records - Cost Savings

Benefits of Electronic Medical Records

When the encounter is finished by a physician, the physician can choose "ready to send" from the drop down menu. The complete EMR is sent to the biller - the biller can modify or double check, but data entry is NOT needed from your biller.

This should translate into an immediate decrease in your cost for data entry of your encounters.

Estimated Transcription Costs Savings

If you see 30 patients per day and pay 0.15 per line, you will save $15,120 per year.

Additional Cost Savings

These cost savings are based on 240 days per year (20 days per month x 12 months)

Online progress notes $8400/yr

Filing & Retrieving $16,800/yr

Photocopies $480/yr

Processing refills $480/yr

Automatic chg posting $480/yr

Faxing $480/yr

Paper charts (raw material only) $7000/yr

Here is an interesting statistic about paper charts - the national average for a new patient folder with dividers is $8.90.

I hope your marketing is generating new patients, but if its not, here are some free tips for marketing your practice. Speaking of paper charts - since you have no paper charts with an electronic medical records system, you should either be able to rent a smaller office or to increase patient rooms.

Generally, take the square foot of whatever amount of room your charts take up X your price per square foot and plan on putting that money to better use.

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