ROI Analysis
Value of PracticeSuite to Doctor's Office
- Transforming your office from paper-based charting to an Electronic Health Record with an Integrated Practice Management application can create measurable and true cost savings; improve revenue, quality of your life and professional satisfaction! As the law of the nature, change bring opportunity but is inconvenient. Going electronic involves short term pain, learning curve and ramp-up time. With Practicesuite, you would be surprised, it is not that bad after all!
- Check these REAL and CONSERVATIVE numbers out. This is SHOCKING but a bitter reality!
ROI
1. Integrated Practice Management & EMR |
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| Reduced Operational Cost (Medical Economics) | $42,000 | |
| Revenue loss due to under coding (AAFP) | $36,000 | |
2. Billing Service |
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| Higher reimbursement (2.5% cash flow improvement) | $10,000 | |
3. ROI in $ |
$91,000 | |
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Improved soft values
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Integrated Practice Management & EMR
Reduced Operational Cost (Medical Economics) $42,000
| 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 Health 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 |
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| A paper based Electronic Health Record requires extensive paper cost (Charts, folders, dividers, super-bills, fax papers, printer pages, toner/ cartridge, envelopes & postage) |
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Not accounted in this is the valuable time and energy spent managing the paper chaos!!! Saving in storage of paper based charts |
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| 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. | ||||||||||||||||||||||||||||||||||||
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Revenue loss due to under coding (AAFP) $36,000
| Revenue loss due to under coding $35,000 | ||||||||||||||||||
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AAFP & Medical economics estimates $35,000 of annual revenue loss to doctors who routinely down-code level of visit due to inadequate documentation required to justify documentation level. Most visits are coded more on deficiencies in documentation than on the medical necessity, risk factor & other criteria of the visits and are generally done due to fear of insurance audit. Using PracticeSuite’s EMR enables rapid, extensive documentation of visits, making it possible to properly & adequately document level of services to justify the appropriate coding level. Practices using EMR noted increased reimbursement and savings in supporting insurance audit documentation and having the peace of mind that you have documentation to substantiate your level of coding. Using PracticeSuite's consultation sheet, canned sheet and copy of follow-up visits enables doctors to capture depth of HPI, History, negative ROS and PE very quickly using canned sheets. PracticeSuite gives you the flexibility to either dictate, handwrite or click and type. Using all these varied forms of data entry, clinical documentation can be easily completed within 2 to 4 minutes depending upon the nature and complexity of the visit. |
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Billing Service
Higher reimbursement (2.5% cash flow improvement) $10,000
Estimated improved re-imbursement due to proper coding, LMPR, CCI, Local edits, RVU values order etc
* Information deemed reliable but not guaranteed. | * Above estimate is for a one doctor practice.




New revenue streams outside core business by providing comprehensive practice management, clinical and web site solution.