Jennifer Reynolds

Implementation of:

Is it time for a change?Is it time for a change?

• Financial IncentivesFinancial Incentives

• Time SaverTime Saver

• Charting BenefitsCharting Benefits

• Increases Availability of InformationIncreases Availability of Information

• AccuracyAccuracy

Why should this office implement Why should this office implement Electronic Medical Records?Electronic Medical Records?

How is EMR implemented?How is EMR implemented?

• Step 1 : Choose a software/vendor.Step 1 : Choose a software/vendor.

• Step 2 : Purchase needed hardware.Step 2 : Purchase needed hardware.

• Step 3 : Test the systemStep 3 : Test the system

• Step 4 : Train staff on the new system.Step 4 : Train staff on the new system.

• Step 5 : Go live with the new system Step 5 : Go live with the new system and maintain training and support as and maintain training and support as necessary.necessary.

Financial Grants and Incentives

Such Benefits Include:Federal grants, Federal grants,

Medicare incentives, Medicare incentives, Implementation tax credits, Implementation tax credits,

EMR stimulus packagesEMR stimulus packages

Other Financial Incentive Providers Include:Other Financial Incentive Providers Include:• National Committee for Quality AssuranceNational Committee for Quality Assurance• The Utilization Review Accreditation The Utilization Review Accreditation

CommitteeCommittee• The Joint CommissionThe Joint Commission

Capital ExpenditureCapital Expenditure

Advantages Advantages

Grants and stimulus Grants and stimulus funds are available for funds are available for the transition.the transition.

EMR does follow HIPPA EMR does follow HIPPA guidelinesguidelines

Reduces expensive Reduces expensive lawsuitslawsuits

DisadvantagesDisadvantages

Transition requires Transition requires significant capital.significant capital.

Patient may present Patient may present concern over privacy.concern over privacy.

Implementation of a Implementation of a new system takes new system takes time and money.time and money.

Requires significant capital to implement EMR, yet lowers long-term expensesRequires significant capital to implement EMR, yet lowers long-term expenses..

Current Value, Depreciation, and Cash flowCurrent Value, Depreciation, and Cash flow

• Determine project goals.Determine project goals.• Estimate project costs and benefits in Estimate project costs and benefits in

dollars.dollars.• Discount the costs and benefits at an Discount the costs and benefits at an

appropriate rate.appropriate rate.• Complete the analysis with a calculation.Complete the analysis with a calculation.

Projected Revenue:

EMR increases profits and cuts expenses byEMR increases profits and cuts expenses by Reducing Operating Costs such as:Reducing Operating Costs such as:Salary for Medical Assistants, transcriptionists, Salary for Medical Assistants, transcriptionists,

and Billing and Coding staff.and Billing and Coding staff.Eliminates the need for overflow chart storageEliminates the need for overflow chart storageHighly beneficial for:Highly beneficial for:

Office visit and Emergency Room CodingOffice visit and Emergency Room CodingProperly uses the correct Evaluation and Properly uses the correct Evaluation and Management codes.Management codes.

Reducing coding error maximizes revenue.Reducing coding error maximizes revenue.

Return of Investment vs. Overall expenseReturn of Investment vs. Overall expense

Disadvantages:Disadvantages:

• Software/Vendor expensesSoftware/Vendor expenses

• Hardware expenses (New PCs, tablets)Hardware expenses (New PCs, tablets)• Reduction of patient flow during initial phasesReduction of patient flow during initial phases• Training time and costsTraining time and costs• Annual Support Fees (IT, maintenance, upgrades etc.)Annual Support Fees (IT, maintenance, upgrades etc.)

Advantages:Advantages:

Projected revenue falls around approximately 8.2 million in savings Projected revenue falls around approximately 8.2 million in savings over a 5 year time period” (Wang, 2010). Reductions in errors and over a 5 year time period” (Wang, 2010). Reductions in errors and expense plus maximized profits and efficiency make the Returns of expense plus maximized profits and efficiency make the Returns of the initial EMR investment worth it. the initial EMR investment worth it.

Review of Benefits and Advantages:Advantages the Patient can benefit from:

Less wait time, informed physician decisions based on availability of information, Accurate charting, Accurate billing, Overall Improved healthcare

Better treatment & decisions

Advantages from the Prospective of the Practice:Increased Revenue, reduction of multiple expenses,

financial incentives, Significant Return of investment, Time management and efficiency excels, Quality of delivered care increases, and productivity rises.

Additional Advantages of Structured Accurate Organization:Transferring patient information, referral, and prescriptions with ease, while eliminating the need for paper Rx pads

and fraud. Increased number of patient seen daily. Increased profits and Reduced operational costs.

Review of negative aspects and disadvantages:

Disadvantages seen by the patient:

The EMR devices can be intimidating and distracting to some patients. This may give the patient the feeling the “personal” aspect is disappearing from care. Some patients fear a breach of their private information online.

Disadvantages seen by the practice:

Implementation costs and time spent putting the system in place is significant. Annual fees for support from the vendor and depreciation costs of hardware are extensive as well.

Recommendation/SummaryRecommendation/Summary

It is my recommendation that It is my recommendation that implementation of EMR is the best implementation of EMR is the best economical solution for any practice. economical solution for any practice.

ReferenceReference

  Medical Records.com. (2012). Medical Records.com. (2012). What are the Benefits of Electronic What are the Benefits of Electronic Medical Records ?Medical Records ?. Retrieved from . Retrieved from http://www.medicalrecords.com/physicians/what-are-the-benefits-of-working-with-emrhttp://www.medicalrecords.com/physicians/what-are-the-benefits-of-working-with-emr

Medical Records.com. (2012). Medical Records.com. (2012). EMR System Purchase Financing EMR System Purchase Financing InformationInformation. Retrieved from . Retrieved from http://www.medicalrecords.com/physicians/what-are-the-benefits-of-http://www.medicalrecords.com/physicians/what-are-the-benefits-of-working-with-emrworking-with-emr

NextGen Healthcare. (2012). NextGen Healthcare. (2012). NextGen Healthcare NextGen Healthcare . Retrieved from . Retrieved from http://www.nextgen.com/Default.aspx?RequestId=8011453fhttp://www.nextgen.com/Default.aspx?RequestId=8011453f

Wang, T. (2010). Wang, T. (2010). Running the Numbers on a EHR Running the Numbers on a EHR . Retrieved from . Retrieved from http://library.ahima.org/xpedio/groups/public/documents/ahima/bok1http://library.ahima.org/xpedio/groups/public/documents/ahima/bok1_047866.hcsp?dDocName=bok1_047866_047866.hcsp?dDocName=bok1_047866