Healthcare Financial Management FINAL PROJECT

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J_RainesMOD409112020.docx

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MOD 4 - EMR 6

Module 4 - EMR

Jamie Raines

Rasmussen College

H320/HSA3170 SECTION 02 FINANCIAL MANAGEMENT OF HEALTHCARE ORGANIZATIONS

Dwight Preston

August 20th, 2020

Question 1

An electronic medical record is basically software which is utilized to safely document, retrieve, store, analyze as well as share information which concerns a particular patient care. They are known to be hosted within computers either locally that is within the practice office as well as remotely. The EMR systems which are considered to be remote tend to be described as internet based or cloud based. Practically, almost every practice tends to have an interest which is immediate as well as practical in enhancing the efficiency in addition to the utilization of their EMRs.

Various practices might be putting into consideration an EMR replacement acquisition to enhance quality care for their particular patients in addition to minimizing the burden on providers who require usage of the EMR. As confirmed by most care givers, the implementation of an EMR is basically considered to be a journey which is ongoing. This is because it has no particular destination or end since an opportunity of optimizing flow of work or improving data usage always arises. There are various external factors which influence the choosing of EMR software which is appropriate (Swan, et.al, 2017).

These include; EMR contracts untangled - selecting EMR software in addition to its purchase negotiating is considered to be a challenge for every healthcare provider. It is critical to choose the appropriate technologies which suit the primary practice in addition to navigating the process of acquisition. This additionally helps an individual in negotiating the terms of the contract to reduce possible challenges as well as building a relationship which is stronger with the health IT vendor. Another factor which is external is considering an EMR which is based on cloud or one which is based on a server.

There are various internal factors which need to be considered in EMR software selection which include; interfaces as well as systems integration which is inclusive of Billing in addition to Hospital Information Systems. This is a feature which is considered to be in demand for the EMR solutions due to the manner in which it minimizes the time duration taken in entering patient data every time there is a billing cycle. There is also the feature of document scanning which is also essential in EMR solutions that are specialized which enables one to generate workflows customs which are designed to suit the unique needs of the clinic. In addition, E-prescriptions is also software which is important in EMR this is because with it there is no need to give the patients scripts that are poorly handwritten with the hope that the pharmacy which is receiving appropriately fills the given order.

Question 2

EMRs basically are known to be money as well as time investments that are considerable in addition to that; hospitals are encountering several costs that are hidden connected with the implementation. Hospitals as well as health systems tend to pay fees to have the EMR software license, in addition to costs that are upfront mostly in between $1, 200 up to above $500,000 that is as per software Advice. The particular organization ends up being accountable or monthly as well as costs that are recurring in addition to add-on costs on maintenance. Costs that are recurring in most cases have a rough estimate of around $200 up to above $35,000 for subscriptions per user or provider fees as well as additional premium support offerings. Migration of data is capable of costing approximately $30,000 up to $50,000 as per the software Advice (Matton, et.al, 2016).

The costs that are hidden, inclusive of management of data as well as add-on functions which might have the probability of not being in the contract which is original include; capabilities that are direct, server updates, patient eligibility check services, E-prescribing functionality, practice management software upgrades or updates in case the system which is new tends not to integrate with the software for practice management which is current. Other charges which are hidden include revenue cycle management add-ons, like tracking denials as well as claims management, health management quality of the population reporting to CDC, registries, payers as well as health departments of the state. In addition to storage which is extra on data patient among other things.

Question 3

The purchasing cost as well as installation of an Electronic Medical Record within our facility is majorly approximated to be in between $15,000 up to $70,000 for a single provider. The incurred expenses in most cases tend to depend on whether the organization selects EMR deployment which is on site based or one which EMR deployment which is based on cloud. The average cost which is incurred is estimated to be around; upfront $33,000, cost which is yearly to be $4,000. Cost of implementation is estimated to be around 162,000 dollars in addition to 85,000 dollars in expenses that are incurred in the process of the maintenance of the Electronic Medical Record in the course of the entire year at our health facility (Swanik, 2019).

References

Swan, D., Hannigan, A., Higgins, S., McDonnell, R., Meagher, D., & Cullen, W. (2017). Development and implementation of a ‘mental health finder’software tool within an electronic medical record system. Irish Journal of Medical Science (1971-)186(1), 191-200.

Matton, M. P., Toledano, B., Litalien, C., Vallee, D., Brunet, F., & Jouvet, P. (2016). Databases and Computerized Systems in PICU: Electronic Medical Record in Pediatric Intensive Care: Implementation Process Assessment. Journal of pediatric intensive care5(3), 129.

Swanik, S. (2019). Implementation of an EMR System for a Comprehensive Dental Service within a Large Regional Hospital Network: Challenges and Opportunities Presented by the Introduction of new Technology. Online Journal of Public Health Informatics11(2).