Benefits Of Adopting Electronic Health Records

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Good Afternoon ladies and gentleman! I appreciate not only your time but your commitment to the implementation of Electronic Health Records (EHR). As a recap from our last meeting, hard and soft ROI represents various benefits which can be included and used in an ROI analysis. The hard benefits are the direct benefits which are tied to the impact of implementing the proposed solution. Soft benefits on the other hand are less easy to quantify and rely on. Soft benefits are often referred to as indirect, because they rely on a number of steps in order for the benefit to be realized. Today we will focus on the soft benefits of adopting Electronic Health Records. In addition to the costs directly associated with the EHR, such as…show more content…
Soft ROI isn’t always easy to quantify and doesn’t always include hard statistical data, but this doesn’t reduce the value of soft ROI. Actually soft-return factors can play a key role in improving the health facility over the long-term. The clinical data alone that comes through EHR can play an important role in transforming the process of an organization. A study was recently completed and published in HealthAffairs, according to this study; health care practices were able to cover the cost of the EHR in approximately 2.5 years and then received an average of approximately $23,000 per year per full-time employee in net benefits. This study also notes that much of the ROI consisted of efficiency gains and increases in revenue. The increases in revenue arose primarily from more accurate higher level coding, but some providers also were able to see additional patients due to time saved from using an EHR (Miller, West, Brown, Sim, & Ganchoff, 2015) EHR systems have the potential to change the health care system from a mostly paper-based industry to one that utilizes clinical and other pieces of information to assist providers in delivering higher quality of care to their patients. The Health Information Technology for Economic and Clinical Health (HITECH) Act of 2009, which is part of the American Recovery and Reinvestment Act (ARRA) was signed into law with an explicit purpose of incentivizing providers to adopt EHR systems. The incentives
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