The total cost of implementing electronic health record systems could amount to approximately $120,000 per physician in the first year of deployment, according to a report published by CDW.
CDW surveyed 200 physician group practices to collect data on the true cost of EHRs. Other key findings from the study include the following:
• Although 66 percent of respondents cite hardware and software costs as their primary concern with EHR adoption, these specific costs only make up 12 percent of per physician costs in the first year of EHR implementation.
• In the first year of adoption, physician practices may lose up to $101,250 in patient revenue due to workflow disruptions.
• However, once fully implemented, EHR and patient workflow efficiencies could return as much as $151,875 in additional annual revenue.
Read the news release about EHR adoption costs.
Read other coverage about health IT spending:
- Detroit Medical Center Reports $5M Savings After Implementing EMRs
- Spending on Health IT Projected to Increased 19% Over Next Five Years
- Research Suggests EHR Market Will Double to $2.6B by 2012
CDW surveyed 200 physician group practices to collect data on the true cost of EHRs. Other key findings from the study include the following:
• Although 66 percent of respondents cite hardware and software costs as their primary concern with EHR adoption, these specific costs only make up 12 percent of per physician costs in the first year of EHR implementation.
• In the first year of adoption, physician practices may lose up to $101,250 in patient revenue due to workflow disruptions.
• However, once fully implemented, EHR and patient workflow efficiencies could return as much as $151,875 in additional annual revenue.
Read the news release about EHR adoption costs.
Read other coverage about health IT spending:
- Detroit Medical Center Reports $5M Savings After Implementing EMRs
- Spending on Health IT Projected to Increased 19% Over Next Five Years
- Research Suggests EHR Market Will Double to $2.6B by 2012