How Electronic Medical Record (EMR) Boost Financial Performance of your Practice

1. Improving Patient Care:
   EMR applications can boost the quality and safety of patient care. In EMR practitioner can prescribe and order medication for patients. Practitioners can also immediately know each patient’s medical problems and any allergies they may have. With such detailed information available at fingertips, staff can more easily give patients the safe, efficient, and personalized care that they deserve.
   
   A. For Practitioners/ Providers:
   
   1. Easy to access individual patient's real-time records for Diagnosis of diseases and Improvement in Treatment.
   2. Minimized medical errors in a patient health record.
   3. Decision-making responses make speedy and improve patient care. 
   
   B. Allow to the Patients:
   

   1. Patients can access all medical records in one place.
   2. Easy to track their illness and related medical treatments.
   3. No need to care of hard copies of their medical files.
   4. Quick and smooth decision making for the second opinion.
      
      
   1. Reduce Your Expenditure - Cost Reduction
      The newly implemented EMR system created cost reductions that originated from cost savings due to the elimination of the paper-chart system.
      There were 5 types of cost reductions:
      
      1. Reduction of supplies for paper-charts.
      2. Disposal of storage facilities
      3. Reduction of full-time equivalent employees for paper-chart management
      4. Laying off of clerks from the outpatient clinic setting
      5. Reduction of supplies for medical devices
         
         
   2. Get More Patients
      A study conducted by Harvard University researchers showed that the practices which showed a positive Return on Investment (ROI) were able to use their EMR in a way that increased the number of patients they were able to see in a day as well as improving their billing to reduce rejected claims. As compare to still using paper charts.
      Ther were following tenets to increase patient flow.
      
      1. Improving quality, safety, efficiency, and reducing medical errors.
      2. Engaging patients and families in their health to provide real-time knowledge
      3. Improving care coordination with patients
      4. Increase patient-doctor time
      5. Continuous Motivation to patient
      6. Ensuring adequate privacy and security protection for patient health information.Financial Benefits:
         When start to implement EMR in your practice, you may show your overall expenditure graph down to compare with earlier.
         Instead of using paper records, EMR can better result in a positive return on your financial investment through, providers saved on drug expenditure, improved efficiency in diagnostics, upgraded the recording and flexible and fast billing services, and minimize billing errors.
         
         
         

Conclusion