Why Your Provider Network Should Implement E-Record Systems

ROCHESTER, NY (Managed Care Wire): Your providers might be apprehensive about implementing an e-record system, but they might not be hesitant for long. A study by the University of Rochester found that installing an e-record system in hospitals pays for itself in less than two years, reports www.Forbes.com.

A team of researchers at the university analyzed the return on investment of its e-records system that five ambulatory offices representing 28 health-care providers used, according to Forbes. The researchers found that the system reduced costs by nearly $394,000 per year. The cost of installing and operating the system for the first year was $484,577. The medical center was able to recoup its investment within 16 months, Forbes says.

How did the e-record system save the medical center money? The system significantly lowered the administrative costs associated with pulling patient charts, creating new charts, filing time, support staff salary and data transcription, Forbes reports.