Return On Investment Calculator

EXPLANATION OF RETURN ON INVESTMENT CALCULATION

» CURRENT CHART COSTS

Number of Patients seen multiplied by average cost of charts materials, labor and storage costs per month.

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 -According to Health Tech Review, paper charts cost between $5 and $15 to pull. This includes all costs of materials, labor and storage.

» INCREASED PATIENT VOLUME

Number of new patients scheduled per month seen by number of physicians in the practice at average fee per patient.

On average, doctors spend 40% of their time on non-clinical activities. With EMR, you can spend less time document and more time seeing patients and increase patient volume.

» MAXIMIZED E&M CODING

Half of Patients seen per month by physicians are down coded at least one E&M level due to lack of documentation.

Medical Economics Magazine has estimated a loss of 9% per visit loss for physicians down coding one E&M level at least for 50% patients seen daily.

» MONTHLY DICTATION COSTS

You can reduce your current dictation costs by using OmniMD EMR system

» IMPROVED BILLING

Electronic Charge Capture improves billing by up to 5 %.

» IMPROVED PATIENT CARE

Proactive health maintenance alerts based on age, gender, diagnosis, medication, health conditions etc can lead to increase of 2% of patient care visits as per industry average.

» INCREASED EFFICIENCY

Mildon, J., and Cohen, T. "Drivers in the Electronics Medical Records Market." Health Management Technology, May 2001, 22:14-6, 18. F45 - 2.2 FTE can be used more efficiently as per industry average / Administrative FTE industry average salary is $25,900.