ifa EMR ROI Cost Saving

Electronic Medical Record

Return on Investment Calculation

EMR and ROI

Electronic Medical Record: Return on Investment



„Medicine and especially ophthalmology, like any business, is becoming more competitive and eye care professionals are being asked to increase efficiency and productivity. With current technology, computer can´t replace doctors, but they can replace the clerical help we rely on to move and maintain our medical records.“ James Bolling, M.D. Jacksonville, Florida, USA, retina specialist at Mayo Clinic Jacksonville, user of the ifa EMR since 1994. Article published by OPHTHALMOLOGY MANAGEMENT.



ROI calculation

• The following ROI calculation is based on “real world“ data and documents the EMR benefits in the area of

– Reduced Costs

– Increased Efficiency

• Bottom line: A professional EMR project can pay off investment after 6-8 months



Cost Saving: Administratively Chart Handling

Data 1 MD 5 MDs 10 MDs

Patients per day 50 250 500

Time for chart handling (5 min.) 250 min 1,250 min. 2,500 min.

Time per week (5 days) 21 hours 105 hours 210 hours

Weekly savings ($ 17.50 / hours) 367.50 $ 1,837.50 $ 3,675.00 $



Cost saving: Dictation and Correction


Letters dictated per day 15 75 150

Time per letter minimum 3 min. 45 min. 225 min. 450 min.

Time per week (4 days) 3 hours 15 hours 30 hours

Weekly savings ($ 93.00 / hours) 279.00 $ 1,395.00 $ 2,790.00 $



Cost saving: Transcription


Letters transcribed per week 40 200 400

Weekly savings ($ 4.00 per letter) 160.00 $ 800.00 $ 1,600.00 $



Cost saving: Total


Administrativly Chart Handling $ 367.50 $ 1,837.50 $ 3,675.00

Dictation and Correction $ 279.00 $ 1,395.00 $ 2,790.00

Transcription $ 160.00 $ 800.00 $ 1,600.00

Total weekly savings $ 806.50 $ 4,032.50 $ 8,065.00



Increasing Efficiency: Automated Instruments (Connectivity)



Pre-Screening time (7-8 min. / patient)

350-450 min. 1,750 -2,250 3,500 – 4,500

Saved with computers (1 – 1.4 min / patient)

50-70 min. 250 – 350 500 - 700

Total time saved in pre-screening area per week (5 days)

350 min. 1,750 min. 3,500 min.



Increasing Efficiency: Documentation and Data Entry



Record documentation time (2-3 min./ patient)

100-150 min. 500-700 min. 1.000 – 1.500 min.

Saved with computers (0.8-1.2 min./ patients)

40-60 min. 200-300 min. 400-600 min.

Total time saved in exam lane per week (5 days)

300 min. 1,500 min. 3,000 min.



Additional income weekly


Saved in pre-screening area 350 min. 1,750 min. 3,500 min.

Saved in exam lane 300 min. 1,500 min. 3,000 min.

Saved total per week 650 min. 3,250 min. 6,500 min.

New patients that can be seen (15 min / exam)

40 200 400

Additional weekly revenue ($ 30.00 per exam minimum

$ 1,200.00 $ 6,000.00 $ 12,000.00



How EMR pays for itself: Data 1 MD 5 MDs 10 MDs

Total savings per week $ 806.50 $ 4,032.50 $ 8,065.00

Total additional revenue $ 1,200.00 $ 6,000.00 $ 12,000.00

Total benefits $ 2,006.50 $ 10,032.50 $ 20,065.00

EMR investment per week $ 212.50 $ 1,062.50 $ 2,125.00

Initial services (training etc.)

$ 60.00 $ 300.00 $ 600.00

Ongoing support $ 187.50 $ 937.50 $ 1,875.00

Total costs per week $ 460.00 $ 2,300.00 $ 4,600.00

Benefit per week $ 1,546.50 $ 7,732.50 $ 15,465.00

Benefit per month (4 weeks)

$ 6,186.00 $ 30,930.00 $ 61,860.00

Benefit per year (48 weeks) $ 74,232.00 $ 371,160.00 $ 742,320.00



EMR-Return on Investment per Patient Case International Eye Institutes

Investment/ Expenses

Europe EUR

USA USD Your Calculation

Best worst

EMR (1) 0.63 € $0.85

Services initial (2) 0.18 € $0.24

Ongoing Support (3) 0.55 € $0.75

Total Costs 1.36 € $1.84

Cost Saving Charts 2.39 € $3.22

Increase Efficiency 3.55 € $4.80

Total Benefit per Pat. 4.58 € $6.18



„The translation from paper to computerized patient records can be painful at times, but switching to an electronic medical record system may mean staying competitive in the future. It´s a choice only you can make.“ James Bolling, M.D. Jacksonville, Florida, USA, retina specialist at Mayo Clinic Jacksonville user of the ifa EMR since 1994. Article published by OPHTHALMOLOGY MANAGEMENT.



For the complete article “EMR Return on investment“ and further information please visit:

www.ifasystems.com

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ifa EMR ROI Cost Saving