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How to Maximize ROI on your EHR?

June 19, 2014



Most practices spend a lot of time and resources on selection and implementation of EHR; however, they fail to take necessary measures for maximizing ROI on the technology. Providers can get maximum return on investment only when the selected EHR improves financial performance, enhances efficiency and improves patient care.

Industry Facts :

Practices implementing EHR without focusing on revenue enhancement and cost cutting tend to lose more than $43,000 over five years, according to a study by University of Michigan School of Public Health in 2013
Merely 38% of respondents were highly satisfied with their EHR systems, as per the American Academy of Family Physicians 2012 EHR User Satisfaction survey

How can a well-networked EHR benefit your practice?

  • Safe and improved prescribing
  • Quick access to patient records from remote and inpatient locations
  • Precise documentation, which will ensure accuracy in coding and billing
  • Ready interfaces with registries, labs and other EHRs
  • Real-time quality reporting and performance improving tools
  • Superior decision support
  • Easy access to medical information, clinical alerts and reminders

Ways to maximize ROI on your EHR:

EHR adoption is a significant investment for any medical practice or hospital. Therefore, necessary measures are required to ensure that the investment brings desired results. Practices should take full advantage of the opportunities and functionalities enabled by their EHR. Here are few tips with which practices can maximize the ROI of their EHR:

  • Selecting an up-to-date version of the EHR
  • Participation in Health Information Exchange (HIE)
  • Leveraging interfaces
  • Usage of patient portal
  • Using EHR qualified by CMS
  • Utilizing free resources provided by EHR partner

Are you facing these EHR adoption hurdles?

Lack of training is one of the major hurdles in maximizing ROI on EHR. Onsite training is provided by most vendors. Practices should incorporate and take such training sessions seriously. Practices should ask the vendor for an outline of EHR training curriculum so that functions of the system can be explained properly to the concerned staff.

There are various other challenges associated with meaningful use and adoption of EHR systems:

  • Lack of time
  • High cost
  • Lack of preparation
  • Issues related to training
  • Communication issues

Effective EHR adoption with MBC:

Considering the work pressure created due to healthcare reforms, practices are left with less or no time at all to focus on choosing EHR vendors, mobilize resources or train the internal staff. Many practices across the US have outsourced their EHR requirements to MedicalBillersandCoders.com.

By outsourcing EHR to MBC, practices have been able to enjoy various benefits such as:

  • More focus on core activities
  • Reduced investment on infrastructure
  • Reduced productivity issues
  • Migration to a new technology in less time

MBC is the largest consortium of coders and billers, offering effective billing solutions to practices across all the 50 states in the US. The company has the required expertise for enabling care providers with decision-supportive EHR systems.

 

Category : EMR / EHR / Health IT