Cost & Benefits of EHR Systems: Is it Worth It?
In this digital era, healthcare practices are integrating advanced technologies into administrative processes and services. The advantages of EHR (Electronic Health Record) systems over paper records may have caused this transition. If you are only starting, choosing a system that fits your practice may sound overwhelming, but this article may help you decide the right strategy.
Paper-based Record Systems
Traditionally, healthcare providers and institutions manage and store medical records in separate rooms or warehouses full of paper. Clinical records, medical prescriptions, and patient information are self-reported in paper-based media. Because data are obtained through manual methods, it also involves more people for paperwork management.
It is no surprise that healthcare providers are more familiar with paper-based systems as they used to be the norm in the industry. That said, traditional processes would not have lasted for decades if they were inefficient. After all, it seems to require cheaper upfront fees than automated systems that need expensive devices to kickstart.
So, why implement EHR systems now?
So, why implement EHR systems now?Electronic health records or EHRs are any official digital form of a patient’s health information accessible to multiple healthcare providers. It makes use of electronic devices for storing, obtaining, sharing, and analyzing data. With automated systems, the data are processed electronically rather than manually writing medical visits and recording patient treatments on paper.
Electronic-based systems provide healthcare professionals and their patients with more control of their long-term records. That said, it requires higher upfront costs and involves monthly fees. Although, the advantages of EHR systems have enough potential to outweigh their drawbacks and are more sustainable. Discussed below are the benefits and disadvantages of adopting EHR systems.
Disadvantages of EHR systems
- Upfront Costs and Recurring Fees: Implementing an EHR system requires an initial one-time payment and recurring fees for monthly services.
- Training: In addition to fees, all personnel that will handle EHRs should undergo proper training to maintain a sustainable EHR system.
- EHR Switching Cost: Shifting to a different EHR system means you will have to pay all fees and undergo training again. Thus, it is essential to be diligent in the system selection process.
Advantages of EHR systems
- Better medical practice management: Modernizing healthcare systems with technology leads to a hassle-free, cost-efficient, and high-performing work environment.
- Minimal Transcription Costs: You can reduce or eliminate transcription costs and generate savings using an EHR system.
- Cost-efficient: Integrating the right technologies in your business results in minimized paperwork, repetition of tests and other treatments, and prescription errors.
- Improved Communication: It induces an accelerated flow of information sharing from doctor to patient or vice versa without compromising security and accessibility.
- Data Retrieval: You can use data storage software to secure and provide backup to your files using data storage software in case of a catastrophic event.
- Audit Trails: With a built-in history, EHR systems enable you to audit trails and view alterations made in documents.
Cost vs. Benefits: Are EHR Systems Worth It?
Cost vs. Benefits: Are EHR Systems Worth It?The costs of EHR systems tend to be the turning point for many despite its advantages. But paper-based system costs can be hard to quantify and can result in inconsistent plans. It is easy to overlook, which could lead to misinformed decisions. Additionally, in case the files are stolen, lost, or damaged, the legal consequences can cost you more.
Meanwhile, EHR systems are sustainable and are more flexible. Having a digital platform avoids compromising your practice and provides your patients with safer and efficient options in cases like the COVID-19 pandemic. Moreover, replacing paper with technologies is also beneficial for the environment. With EHR systems, you can implement digital workflows and reduce paper wastes.
EHR Systems and Growth
Operating hassle-free without having to compromise your healthcare practice comes with long-term rewards. But to maximize the potential of EHR systems, it is crucial to invest time and effort when selecting the right system. Implementing one that only meets transient needs may hinder growth, leading to unexpected costs and additional training. With the right EHR system, you can experience rapid development towards sustainability.
Working with the right people also aids in choosing a system that fits short-term and long-term needs, resulting in improved workflows and a better patient experience. After all, EHR systems are versatile and capable of supporting your growth. The scalability of your system can be modified and eventually adjusted while your practice grows. Unlike paper-based systems that require redundant data entry, making the system unscalable.
What are EHR system features should I look for?
That said, there are numerous EHR systems that you can check out. It is crucial to look for ones that offer features that fit your healthcare practice. If you are only starting, here’s a checklist of EHR features you might want to check out:
- Health Information and Data
- Results Management
- Order entry management
- Decision support
- Electronic communication and connectivity
- Patient Support
- Administrative process
- Reporting and population health management
- HIPAA compliance
- Patient Portal
- E-Prescribing
- Clinical Decision Support (CDS)
How can you adapt an EHR system?
Choosing the right system for a startup business can lead to rapid growth and sustainability. The advantages of EHR systems can outweigh their drawbacks when implemented and utilized correctly. It is vital to assess which EHR system is ideal for your practice, as there is no one-size-fits-all solution for every business problem. Conducting research and evaluating your resources is a crucial step towards growth.
It can be overwhelming to start up a medical practice on your own. But seeking help from the right people can help you avoid irreversible mistakes. Streamsoft can help you determine which system types fit your business, so you can decide on which approach to take for your circumstances. The starting implementation fees for modern technologies can be costly. Hence, it is best to ensure your investment comes in the long run.
References:
Health IT. Benefits of EHRs. HealthIT.gov. (2017, October 5). https://www.healthit.gov/topic/health-it-and-health-information-exchange-basics/benefits-ehrs.
Health IT. How will using electronic health records help me meet my business goals? HealthIT.gov. (2019, June 24). https://www.healthit.gov/faq/how-will-using-electronic-health-records-help-me-meet-my-business-goals.
Waters, H. (2018). The Essential Guide to Ehr Value and Sustainability. MediTECH. The Essential Guide to EHR Value and Sustainability.
Health IT. What are the advantages of electronic health records? HealthIT.gov. (2019, May 16). https://www.healthit.gov/faq/what-are-advantages-electronic-health-records.
