EHR software issues can impact your bottom line, hinder workflow, and negatively affect your regulatory compliance for programs like MACRA/MIPS. The wrong EHR may also cause a loss of revenue by capturing inaccurate billing and coding information, failing to capture charges at all, or, if excessive amounts of time are spent charting, a reduction in patient volume with resulting drops in revenue that will quickly highlight the cost of selecting the wrong EHR.
With news of falsified attestation data1, exposure and liability for the use of non-compliant EHRs is at the forefront. Physicians are concerned and must be vigilant with the compliance and certification of their EHR software2. Vendor compliance with certifying and regulatory bodies has never been more important.
Practices have never had as much of their Medicare reimbursement at risk. Providers have up to 12%3 of their Medicare reimbursement on the line as part of MACRA / MIPS (Merit-Based Incentive Payment System). Be sure to check your participation status with CMS4.
As more and more regulation and financial strain5 is placed on physician practices it is critical that EHR software not be a pure cost. Many systems are utilized to “check the box” that a practice is participating in a given regulatory program; first, Meaningful Use, and the new MACRA/MIPS. This type of EHR system is often low cost, or sometimes free. Even though they don’t cost much, these systems do not offer any real value.
Practices are complex operations and a variety of factors influence their success. Because EHRs handle so many processes (charting, patient accounts, billing, etc.) much of the load for staying organized and effective must be placed on the software. To quantify the EHR’s impact, start with stats like patient flow, billing totals, and A/R balances. Whether you’re comparing pre-EHR figures to your now, hopefully, paperless practice or from one EHR to another; measurements must be made in order to improve.
When a practice wants to switch EHRs it’s important to know what you need with regard to your practice’s KPIs (key performance indicators.) Primary care offices have markedly different KPIs from surgical specialties. When shopping for a replacement EHR verify that your replacement candidates will help with the achievement of your metrics.
Switching EHRs is more than just a software swap you need a vendor that can function as a trusted partner.
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