Cost of Electronic Medical Records
The cost of electronic medical records
Health care is one of the most expensive things today. However, with the introduction of Electronic Medical Records software, costs for running medical practices are going down thus reducing the costs of health care in the long run.
Many small practices however, still find it difficult to install the software given its associated costs. Some consider it to be very expensive and thus decide to do without it. Studies have however established that, though the initial costs might be high, EMR software pays off in the end. It has been established that, practices that have integrated the software into their systems are paid off by savings in the long run. Therefore, if the software is integrated by many more practices, the costs of health care in the country would also reduce massively.
Studies indicate that only 12 percent of small practices and 18 percent of bigger practices have integrated Electronic Medical Records software into their systems. In addition, about 34 percent of medical practices intend to integrate the software into their systems in the next two years. These figures are still very low when compared to the advantages of using EMR in medical practices today. There is therefore need, for more pressure upon medical practices to adopt the software.
It has also been established that, many practices are hindered from implementing the software by not knowing which software type to choose. This is because there are many types of EMR software on the market today, each of which has different functions and prices. There is therefore a need to provide more support and education to the medical practices about the functions of EMR software and how to best choose the right option.
It has been established that, Electronic Medical Records software approximately costs 44,000 Dollars, for initial set up and 8,500 Dollars for annual maintenance. It is however important to note that, many practices get back their money, more than their investment, anyways, because of the efficiency that the software provides. Many practices make annual profits of about 23,000 Dollars as a result of using Electronic Medical Records software.
From the above information, it is noted that the integration of Electronic Medical Records software into any medical practice, regardless of size is a very profitable venture. The only thing that medical practices need to worry about is how to choose the right software to implement into their systems. This will greatly help in the reduction of the high costs of health care in today’s economic environment.
