| Assumed
Variables (Based on industry standards) |
Cost to pull chart
|
$5 |
Source: Wang, A., Middleton, B., et. Al. "A Cost-Benefit
Analysis of Electronic Medical Records in Primary Care," The American
Journal of Medicine, April 1, 2003. |
Cost to create
chart (materials and labor) |
$7 |
Estimated |
No of chart pulls
for non-visiting patients |
$18 |
60% of total visits. Source: Bingham, A., “Computerized
Patient Records Benefit Physician Offices, Healthcare Financial
Management, September 1, 1997 |
Avg. no of pages
in a fax |
$5 |
Estimated |
Annual cost per
FTE |
$25,900
|
Source: Mildon, J., and Cohen, T. "Drivers
in the Electronics Medical Records Market." Health Management
Technology, May 2001, 22:14-6, 18. |
Hourly revenue
per physcian |
250 |
Estimated |
No.of minutes spent
to refill prescription |
$15 |
Source: Erstad, T., “Analyzing Computer-based
Patient Records: A Review of Literature, Journal of Healthcare Information
Management, vol. 17, no. 4. 2003. |
No of minutes to
refill prescription with EMR |
$3 |
Source: Erstad, T., “Analyzing Computer-based
Patient Records: A Review of Literature, Journal of Healthcare Information
Management, vol. 17, no. 4. 2003. |
No of minutes spent
by FTE to create a referring physician report |
$10 |
Estimated |
No of minutes spent
by physician to create a referring physician report
|
$30 |
Estimated |
Percentage of patients that could be coded at a higher level |
3-15% |
Estimate the percentage of visits that
may be “down coded” due to the additional documentation burden and/or
fear of an audit. EMR allows for more accurate coding, with the
ability to automate full supporting documentation, and built in
coding assistants based on “E and M” guidelines. Source: Erstad, T., “Analyzing Computer-based Patient Records: A
Review of Literature, Journal of Healthcare Information Management,
vol. 17, no. 4. 2003. (3-15% is the industry average for down coding.)
|
Cost per sq.foot
for chart storage per month |
$3 |
Estimated |
Billing charge
capture improvement |
1.5-5%
|
Source: Wang, A., Middleton, B., et al. “A
Cost-Benefit Analyss of Electronic Medical Records in Primary Care,”
The American Journal of Medicine, April 1, 2003. |
Workdays per year
|
$260 |
|
Coding improvement
|
$40,000
|
Medical Economics estimates a $40,000 to $50,000 annual loss to physicians who routinely down-coded one E&M level. Source: www.medicaleconomics.com |
Cost per page printed
|
$0.04
|
http://www.pcsupporttips.com/pc-peripherals/printer_cost_per_page_31.html |