Practices See Quick Roi On E-prescription Investment

Medical providers reluctant to invest in an EMR system with e-prescription capability

might be interested in the results of a 2008 study done in Massachusetts. In an article published in the Archives of Internal Medicine, the authors showed e-prescriptions have an immediate and significant effect on reducing healthcare costs.

The Problem Of Rising Drug Costs

Soaring medical expenses impact more than just patient wallets. Physicians have found it harder to care for patients with serious medical conditions as those patients refuse treatments they can't afford. As American population ages this problem is only going to grow worse.

Experts agree a significant contributor to the high cost of healthcare is the price of prescription medications. Drugs have assumed an ever-increasing slice of the healthcare financial pie and this problem is one that insurers and patients struggle with. Changes that may or may not occur on the national level may alleviate but won't solve the problem. However medical providers are discovering they can have a positive impact on healthcare costs by using EMR systems with e-prescription features.

The Return On The E-Prescription Investment

Many providers are operating on lean profit margins, especially in these tough economic times. Even a free EMR system typically requires monthly fees for e-prescriptions, and the time investment of implementing EMR and transitioning to the new workflow adds to the burden. Doctors need to know their investment will pay off.

A recent study examined prescriptions in Massachusetts. By projecting current trends in e-prescription cost savings the authors shows a typical e-prescription system will save approximately $845,000 annually per 100,000 patients. Most of these savings came from formulary decision support, making it easier for doctors to prescribe lower-cost medications when available. These savings add up quickly for even a small office, allowing the EMR system to pay for itself after a short time.

Savings Are Higher Than They Appear

The study went on to say as e-prescriptions and EMR systems become more prevalent and integrated, the annual savings could climb to $3.9 million per 100,000 patients. There are even greater cost benefits practices can realize in the short term.

Improved efficiency allows e-prescriptions to be processed more quickly and for less cost to the practice than traditional prescriptions. Clearer drug orders mean less time answering questions from the pharmacy. Finally, government programs offer cash incentives to practices who adopt e-prescriptions and other EMR system features.

Transition to an EMR system requires a commitment of time, money and other resources but this study is just one of many illustrating the return on the investment. Practices achieve significant savings once they get past the initial growing pains. If your practice is still on the fence, it's time to adopt an EMR system and improve your office's ability to provide patient care.

by: Christine Harrell

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