Plan ahead for the cost of switching to a new EHR
There are many reasons why you might consider transitioning to a new electronic health record (EHR) in your medical practice. Maybe you want to gain operational efficiencies, integrate a practice management system, or improve the clinician and patient experience. Maybe you want to find better support and training, save money in the long-term, generate more revenue, or integrate a patient portal. Or maybe it’s the ability to leverage cloud-based technology or tap into customizable features.
Whatever the reason, the good news is this: If you’re reading this article, you’ve probably already acknowledged there are better options out there. The bad news is that there are costs associated with switching EHRs. The exact amount is hard to predict; however, with a proper head’s up—and a careful review of EHR contracts, you can plan ahead financially for the cost of EHR implementation and make the leap to a new system as smoothly as possible.
Here are eight costs of switching EHRs that should be on your financial radar:
1. Lost productivity. Undoubtedly, physicians and staff will likely spend hours researching and testing different EHR systems. Some physicians may even travel to other medical practices to see the EHR ‘in action.’ The associated cost is lost productivity. In addition, any time you and your staff spend training on the new EHR is time you don’t spend seeing patients and generating revenue. Keep in mind that you’ll also lose productivity when configuring the new system to meet your needs or troubleshooting any unanticipated problems. All of this takes time, and time is money.
Cost-saving tip: Leverage medical coder and biller expertise when selecting an EHR. Coders and billers can provide valuable input and perhaps even do some research into new EHR systems. Also identify a super user. This person can become the in-house ‘go to’ subject matter expert and help others use the EHR efficiently and effectively to mitigate productivity loss and even reduce the overall cost of switching EHRs.
2. Consulting and project management. Switching to a new EHR is a process, and you may opt to hire a consultant or project manager who can help you narrow down the choices, develop new workflows, facilitate the overall switch, and manage the cost of EHR implementation. This person can coordinate all the work, timeline, and personnel involved to ensure you meet all deadlines and the transition stays on track. If this is something you decide to do, you’ll need to factor labor costs into your budget.
Cost-saving tip: Contact your Regional Extension Center to tap into free resources. RECs are located in every region o the country and can help providers select, implement, and become adept and meaningful users of EHRs.
3. Training. Learning a new EHR can be daunting, and some vendors impose an extra charge for training or an annual training fee.
Cost-saving tip: Look for an EHR vendor that provides virtual, no-cost training for you and your staff to reduce the overall cost of switching EHRs.
4. Software licensing fees. Will your new EHR require licensing fees for non-prescribing medical staff? If so, you’ll need to be mindful of these costs.
Cost-saving tip: Look for an EHR vendor that permits unlimited users to contain the cost of switching EHRs.
5. Software support and upgrades. Some EHR vendors charge separately for subscription, support, and maintenance fees—and the amount may increase each year. This obviously affects the cost of EHR implementation.
Cost-saving tip: Look for an EHR vendor that provides all support and upgrades at no cost to your medical practice.
6. Data migration. There may be data-transfer fees associated with abstracting and migrating data from your existing EHR to the new one or maintenance costs associated with maintaining that data in legacy systems to meet regulatory or business requirements.
Cost-saving tip: Explore your options and do your homework to identify the most cost-effective strategy. Technology continues to evolve, making it easier than ever before to retire legacy systems often vulnerable to privacy and security breaches—and move data for better access.
7. Interfaces. There may be costs associated with connecting your new EHR to in-house and external laboratories as well as suppliers, inventory systems, specialized equipment (e.g., the software on an x-ray machine), and other types of health IT systems such as population health management and patient engagement tools.
Cost-saving tip: Look for an EHR vendor that already integrates key systems such as the practice management system, telehealth system, patient portal, e-prescribing, and more.
8. System upgrades. Even with a cloud based EHR, you may need to examine and update your infrastructure needs. Any necessary updates to increase network reliability will obviously come at a cost.
Cost-saving tip: Work with your new EHR vendor to identify requirements and budget accordingly. System upgrades will likely benefit your medical practice efficiency as a whole—not just with the EHR.
Conclusion
Transitioning to a new EHR may require direct and indirect costs, but with a little time and effort, the shift will be well worth it for your medical practice. You’ll quickly reap the benefits of enhanced efficiency and profitability. There are ways to reduce the cost of switching EHRs. Learn how edgeMED can help and be sure to check the Healthy Snacks blog for more expert insights, best practices and industry trends.
