Electronic medical records and your practice

President Bush has set a goal of making electronic medical records (EMR) available to a majority of Americans within 10 years. While logically we recognize there would be many benefits to our society as a whole, thinking about this change and the expenses required for the private practitioner can be daunting. How does implementing EMR software affect you and your practice?

Does this mean you have to spend hundreds of thousands of dollars to eliminate paper records? Working in the medical profession in today’s rapidly changing society is challenging, especially with national disasters like hurricane Katrina complicating matters. This means that switching to an EMR system makes good sense. Plus what many practitioners don’t realize is that EMR software doesn’t have to be cost-prohibitive.

The first step for many is simply defining EMR, also called electronic health records (EHR). According to a recent statement by the Department of Health and Human Services, “EHR is a digital collection of a patient’s medical history and could include items like diagnosed medical conditions, prescribed medications, vital signs, immunizations, lab results and personal characteristics like age and weight.”

For more information on how Electronic Medical Records can benefit your practice, contact us at 866-350-4406.

How can EMR benefit your practice?

Improved accuracy

Because you are using software rather than hand-writing notes and charting, your practice will immediately benefit from improved legibility, easier appointment scheduling and more accurate insurance billing. Improvements in coding quality and reduced claim-denial rates can also be directly related to implementing EMR software. Improved accuracy in record keeping and streamlined flows and processes in your practice are an additional benefit to EMR software implementation. All of which leads to an improved cash flow.

Through better documentation and greater visibility of outstanding receivables, your collections will improve dramatically. In addition, the number of claims errors, which result in nonpayment or severely delayed reimbursement because of insufficient documentation or incorrect coding, will be reduced.

Increased efficiency

When your practice uses EMR software, you naturally capture more patient information and facilitate communications among your staff. If implemented correctly, this can lead to more streamlined office processes and better allocation of employee resources. It doesn’t take as long to get information into a patient’s chart because practioner’s tend to enter data immediately after or during the patient visit. Nurses also report they spend much less time looking for patient information. Lost charts and illegible records are a thing of the past.

For many practices, documentation on patient visits is incorporated into the chart much sooner. Some physicians report that charts are completed immediately following the patient’s visit, making them available the same day. Other practices utilize EMR software by inputting charting information during, or at the end of, the patient visit. Referrals are also streamlined with EMR — many practices report huge time savings by generating referrals electronically during the patient visit.

Other practices report that by implementing direct lab interfaces, they’ve reduced data entry and filing time. There is also a reduced wait time between patient visits and posted lab results, resulting in faster patient notification and increased patient satisfaction.

Better patient safety

EMR offer several ways to improve patient safety and satisfaction. Lost charts are eliminated, plus nurses and administrators have instant access to patient charts, allowing them to answer questions quickly and efficiently. Having instant access to charts also makes it easier to provide important patient education material.

When there are drug recalls and time is of the essence, an EMR system allows physicians to quickly locate at-risk patients and notify them of any actions they need to take. Another important safety feature of EMR software is that clinicians easily have access to a patient’s ongoing healthcare requirements each time a patient’s chart is displayed. Many practices have used this information to update patient’s tetanus and other immunizations right away, which ultimately leads to healthier and happier patients.

Because patient prescription information is entered, it is much easier to identify drug interactions, dosage information, patient instructions, formularies and more.

More accurate coding

Accurate coding can save your practice both time and money in several ways. The number of rejections by insurance companies is drastically reduced, which in turn improves your accounts receivables. EMR software can also advise physicians of appropriate E&M coding, which can reduce the tendency to under-code just to be safe. Many EMR users also find they bill for more services per patient visit because of more appropriate and improved coding.

Because coding can be done during or right after the patient visit, physicians tend to more accurately record the type of services delivered — and to record all the services delivered.

Improved patient confidentiality

EMR software offers the reporting capabilities and documentation requirements to meet HIPAA requirements and any quality initiatives a practice implements. With EMR software, it is also much easier to allow different levels of access to different employees in the practice. Lost charts and misfiled records quickly become a thing of the past.

Better resource allocation

Many practices begin to re-evaluate their business processes when they implement EMR software. The patient’s entire experience is often improved, both in and out of the exam room. Practices can improve the way they schedule patient visits, make referrals and handle episodic illnesses. A physician on call, for example, may speak with a patient, schedule an appointment with a colleague, send referral information and schedule a reminder for follow-up appointments, all before hanging up. This type of convenience and flexibility gives physician practices a strategic advantage over others while greatly improving their patient’s experience.

Other practices have found that they need much less administrative staffing and can reallocate those expenditures into hiring additional nurses or other clinicians. This allows the patients themselves to have a better experience and spend more time with a service provider. It also allows your practice to see more patients in a timely manner, thus increasing revenues.

Significant cost savings

There are several variables that lead to a positive return on investment with regard to EMR software. To most accurately measure cost savings, practitioners should first determine what their expenditures are before implementation. Evaluate costs for supplies, storage space, time spent filing and time spent looking for lost charts, to name a few. By itself, the costs of maintaining storage space for charts can be significant.

Many practices have found they have eliminated transcription costs entirely. Related miscellaneous expenses that can also be eliminated include courier fees and copying. Other expenses, which may be less obvious but are equally important, include the potential to increase revenues as a result of more accurate coding, improved clinical productivity and more complete documentation. Medicare and other insurance requests may more accurately represent the level of care provided because documentation is done at the time of service or shortly thereafter.

Reduced malpractice premiums

Many malpractice insurance carriers now offer premium discounts for using an EMR as a result of the improved documentation, reminders and alerts provided by SpringCharts.

Questions you should ask when purchasing an EMR system: