Why should a practice go paperless with an EMR software system when classical records have worked all along? There are many financial benefits to going paperless like increased productivity, increased revenue, avoidance of costs, and increased profits. Taking this into consideration, you can begin to look at investing in an EMR as an investment in your practice.

Many processes become automated through the use of EMR technology resulting in increased productivity. Pulling and filing charts is no longer necessary once the process has been replaced with the click of a mouse button the patients name is in the EMR system. The EMR system will even automatically produce an end of the day report. User access to images is increased dramatically as they can be placed within the EMR program. With an EMR managing several different types of from is no longer necessary as the EMR can be integrated with diagnostic devices enabling users to input data directly into the EMR. The EMR with out a doubt can make your office more productive, but what is done with your new time does not necessarily translate into financial benefit.

EMR increases revenue through better coding recommendations and empowering doctors by allowing them to offer new services to patients. In family practice, pediatric and internal medicine practices, E/M level coding assistance is an incredible financial benefit. Physicians not coding to the maximum E/M levels could be losing $40,000 to $50,000 annually. Your EMR can even allow patients to view their medical information, schedule appointments, and complete forms before coming in, all through your website. Services such as these will attract new business and reduce the number of necessary staff. With an EMR storage space is dramatically increased now that you no longer have to store files and charts for every patient. This additional office space could possibly provide room for an additional associate. Your office will increase revenue through improved insurance reimbursement as a result of better coding and billing procedures. A good EMR system helps the physician run the practice more like a business.

A good EMR system leads to reduced expenses like paper charts, costs associated with poor documentation and high malpractice premiums, but also creates new expenses such as support contracts, computer maintenance and product updates. Reducing paper costs, costs associated with copying, and management and storage of charts is one of the biggest benefits of EMR. An EMR will also reduce transcription costs as it will provide you with an easier means for patient documentation and report writing. Some offices spend a significant amount on this so the savings here can be drastic. An EMR helps a busy office avoid having to hire new staff because it is more efficient due to the EMR system. The EMR can recommend cost effective medications to patients, helping the office to avoid expensive alternatives. Higher quality documentation and drug prescription alerts will keep malpractice premiums lower. A long-term implementation plan and commitment to eliminate paper charts is vital if the office expects to see cost avoidance benefits.

In order to increase profit doctors needs to take into account all these possible benefits and compare them to the initial and recurring costs that will be incurred due to a result of an EMR implementation. Many benefits however, are difficult to quantify such as, improved care, patient satisfaction, and office image. These all contribute to higher profits as a result of increased patient referrals and better patient retention.

This is an excerpt from the The Electronic Medical Record eBook by EMR Experts, Inc. (www.emrexperts.com)