Who benefits from good results?

    o Any size or type of healthcare enterprise: solo practices, physician groups, healthcare providers, medical facilities, specialty practices, community health groups, plan providers, hospitals, managed care organizations, specialized health care programs, research facilities, complementary technology companies.

    o Across all specialties: Family Practice, Internal Medicine, Cardiology, Pediatrics, Psychiatry, Mental Health, Radiology, OB/GYN, Oncology, Ophthalmology and more.

    o The Patients, who trust their providers to give them the best possible service and care.
    Return on Investment   Customer Satisfaction
    Return on Investment

    A 34-physician cardiology practice in Chicago that implemented the Medinformatic management solution that included electronic medical records, billing, scheduling and other features designed specifically for cardiology practices. Using the system they:

    • Increased the number of patients seen by 15%.
    • Avoided after hours paperwork eliminating about 1.5 to 3.0 hours per week.
    • Streamlined the prescription refill process so that where 4.0 full time employees were need to complete the work now only 1.5 full time employees are required at each site.
    • Eliminated medical record pulls for the refill process with a cost saving of between $600-$1,000 per week.
    • Reduced transcription requirements by 80% that, together with proficient us of the EMR, equated to a savings of about $63,000 per year.

    The following table summarizes potential Return on Investment for a 15 physician practice based on the experience of the larger practice in Chicago:

    Measurement Efficiency Improvement Anticipated Annualized ROI
    Appropriate Coding 25,650 visits per year. Assumes 1 level undercoding (99213 instead of 99214) $641,250
    Patient Volume Increase of 5 patients per week per physician. Based on 45 work weeks per year.

    $253,125
    After Hour Paperwork Decrease per physician per week of 1.5 hours witha rate of $100 per hour.
    Based on 45 work weeks per year.    		 $101,250
    Automated Refill Process Decrease staff time from 4.0 to 1.5 Full Time Emplyees.
    Elimination fo Medical Record chart pulls (est. 200 per week @ $3 each)

    $150,000

    $31,200
    Transcription Productivity

    47% increase in productivity
    Assumptions:

    • Average dictatin volume of 1200 minutes per week
    • Transcription hourly rate of $10

    Transcript costs decrease from $2.17 per minute of dictation to $1.02.

    		 $63,648

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