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Money Cost & Lost by Paper Charting. 1: Material Costs: Costs/Year: New Chart Folders $465 Superbills $710 Fax Ink & paper $600 (approx) Printed Papers & Forms for charts $2,250 (approx). 2: Employee Costs (for non-productive time):
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Money Cost & Lost by Paper Charting • 1: Material Costs:Costs/Year: • New Chart Folders $465 • Superbills $710 • Fax Ink & paper $600 (approx) • Printed Papers & Forms for charts $2,250 (approx) • 2: Employee Costs (for non-productive time): • Chart Searching Time by Front Office & Nursing Staff forpatient appts, phone messages, & faxes =2.25 hrs/day@ ave costof $10.50/hr $6,136 • Billing Staff Time for Inputting Superbill Charges • =20 hours/week x $11/hour $11,440
Money Cost & Lost by Paper Charting • 3: Lost Income: • Charges not posted @ ave of $100/doc/month $3,600 • 4: Space for Paper Records: • Storage Facility used for our old records $1,524 • In-office Medical Record Space Rental Costs(=165 sq ft x 19/sq ft/year) $3,135 • Total Annual Costs Using Paper Charts: $29,860 • =$9,953/physician/year including costs for space requirements, or • =$8,400/physician/year excluding costs for space requirements
EMR System Start-Up Costs Per Physician 1: EMR Costs $8,500/physician 2: High Capability Server: $2,400/physician 3: Physician Wireless Tablet PC’s: $3,000/physician 4: Office Hardware, Software, Network $5,900/physician 5: Annual Support Costs: $1,600/physician 6: Lab Interface Cost: w/ Quest & LabCorp Free Total 1st Year EMR Start-Up Costs: $21,400/physician
2nd Year Investment Cost forAppointment Reminder System One Time Purchase Cost $1,000/physician Annual support fees $50/physician
First Year (2005) Cost & Savings per physician
Second Year (2006) Cost & Savings per physician
Third Year (2007) Cost & Savings per physician
