|
|
|
| |
Eliminate paper cost |
$42,000 |
| |
Enormous economic benefits can be realized by converting a paper-based medical office to a fully integrated Practice Management & Electronic Medical Record System
Medical Economics estimates management of paper trail in a private practice to be about $9 per patient chart per year compared to an office using a fully integrated system to be about $2 per chart per year records |
|
| |
A |
Cost of managing paper charts |
$9 per chart |
B |
Cost of managing electronic charts |
$2 per chart |
C |
Savings per chart ( A - B) |
$7 per chart |
D |
Average patient visits per day |
25 visits |
E |
Total patient visits per Month (D x 20 w/days) |
500 visits |
F |
Total patient visits per Year (E x 12 Months) |
6000 visits |
G |
Cost of managing active charts per Year
( C x F ) |
$42,000 |
|
|
| |
Some of the detailed cost break-up is explained below
A paper based electronic medical record requires extensive paper cost
(Charts, folders, dividers, super-bills, fax papers, printer pages, toner/ cartridge, envelopes & postage)
|
|
| |
A |
Paper Products
(Charts, folders, dividers, super-bills, fax papers, printer pages, toner/ cartridge, envelopes & postage) |
$300 |
B |
Cost using Electronic Medical Record with integrated Practice Management System |
$100 |
C |
Savings per Month ( A - B ) |
$200 |
D |
Savings per Year ( C x 12 Months )
|
$2400 |
|
|
| |
Not accounted in this is the valuable time and energy spent managing the paper chaos!!!
Saving in storage of paper based charts, Medical Records Room, external storage for old records.
Saving in storage of paper based charts
|
|
| |
A |
Med Record Room
(250 square. feet x $2.00 rent per square feet) |
$500 |
B |
Cost of external storage of old charts generally retained for 7 years |
$250 |
C |
You would still need some paper storage in a
paper-less office
(50 square. feet x $2.00 rent per square feet)
|
$100 |
D |
Total savings in paper storage cost per months
( (A + B) - C )
|
$650 |
| E |
Total savings in paper storage cost per Year
( D x 12 Months )
|
$7800 |
|
|
| |
Paper based medical records require charts pull and storage during patient office visits, RX refill request, hospital request, specialist referrals / submitting reports to referring physicians, insurance audit and others. |
|
| |
A |
Average number of charts pulled per day
( visits, refills, labs results, specialist referrals / submitting reports / answering question for referring physicians)
25 patient visits + 5 (refills labs and others)
|
30 charts pulled per day |
B |
Estimated time spent for chart pull from the record room & putting the chart in the exam room / doctors office |
1 Minute |
C |
Estimated time spent to restore the chart back to the record room chart |
1 Minute |
D |
Estimated time required in an office using electronic medical record |
30 seconds |
| E |
Minutes lost per chart (B+C-D) |
1.5 Minutes |
| F |
Minutes lost per Day ( E x A) |
45 Minutes |
| G |
Minutes lost per Week ( F x 5 working days ) |
225 Minutes |
| H |
Minutes lost per Month ( F x 20 days working days) |
900 Minutes |
| I |
Lost minutes in hours per Month ( H / 60 Minutes) |
15 Hours |
| J |
Average wages of medical & office staff |
$15 an hour |
| K |
Loss per Month ( I x J) |
$225 |
| L |
Loss per Year ( K x 12 Months) |
$2700 |
|
|
| |
|
|
