Why invest in an EHR? Because it's the most financially lucrative investment your practice can make
In recent study, researchers found that EHR based practices increased revenue by an average of $33K per provider per year. Some practices added as much as $56K to their bottom line after EHR Implementation.*
However, the same study noted significant variation among practices in their capacity to effectively negotiate the best price for the purchase of a system and effectively deploy it in a manner that minimizes productivity loss and maximizes revenue gain.
Consider the Facts from the Study
The cost of the EHR systems ranged from $8,000/per FTE provider to $32,000/per FTE provider.
The positive dollar impact gain from deployment of the systems ranged reached upwards of $56,000.
The break-even point for the practices varied significantly from less than 1 year to greater than 9 years.
Why so much variation? The simple reason: most practices have never implemented an EHR before. They don't have the knowledge, a proven process, project tools, or experience to prepare for and select an EHR. As a result, many practices struggle to realize the financial and operational benefits of an EHR. It doesn't have to be this way.
The key to making the most of your EHR selection process is in the preparation prior to vendor evaluation and selection. And most practices do not prepare very well.
Let Welch Allyn Help
We can help. The Welch Allyn EHR Preparation and Selection Program can assist practices in systematically preparing for the significant changes that occur with the introduction of an electronic health record. Additionally, we help you navigate through confusing process of selecting and negotiating a contract with an EHR vendor. We have developed three flexible service offerings designed to fit your practice's unique needs - and budget.
*Miller, et al: The Value of Electronic Health Records in Solo Or Small Group Practices, Health Affairs, Volume 24, Number 5 (Sept/Oct 2005)
