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Practice Information
Number of Full Time Equivalent Physicians in your practice. Number of weeks office is open (annually). Average number of office patient encounters per day per physician. Average number of "non-office" patient encounters per day. i.e. lab results, telephone contact, referrals or any other non-office encounters, excluding prescription refills for the entire practice. Annualized office patient encounters. (calculated as 'weeks open' * '5' * 'daily patient encounters'; however you may override the entry and enter your estimate). Average number of prescription refills per day for the entire practice. Estimated increase in daily patient encounters after EHR implementation for the entire practice. Source: Hopper, Kirsten, "Should Standardized, Electronic Medical Records be Required?", Kempe-Jacobowitz-Ames, PPS 255S.02 Health Policy Analysis, April, 2004. (Average increase of 4 - 8 patients per day, pg 25) Estimated number of new patients, annually, for the entire practice. Average cost (dollars) per patient paper chart based on the source noted (or enter your cost). Source: Binghamm, Alan, "Computerized Patient Records Benefit Physician Offices", Healthcare Financial Management, Sept, 1997, pg 4.
Paper Record Expenses
If you have more than 1 office, enter the average monthly cost of courier services for transfer of patient charts, etc. Average cost (dollars) to pull and re-file a patient chart.
E & M Coding and Charge Capture/Billing
Percentage of patient encounters that could be coded at a higher level with increased efficiencies and more detailed documentation.  (Industry average 3 to 15% of total practice revenue) Source: Erstad, T., "Analyzing Computer-based Patient Records: A Review of Literature", Journal of Healthcare Information Management, vol. 17, no. 4. 2003. (3-15% of total practice revenue is the industry average for down coding.) Average charge (dollars) per encounter. Estimated annual gross revenue. (calculated as 'annual encounters' * 'average encounter charge'; however you may override the entry and enter your estimate) Percentage increase in billing capture. (Industry average 1.5 to 5%) Source: Wang, A., Middleton, B., et al. "A Cost-Benefit Analysis of Electronic Medical Records in Primary Care," The American Journal of Medicine, April 1, 2003, Volume 114, pg 399.
Transcription Costs
Average employee(s) time spent transcribing for the entire practice - all physicians, per day (in hours) Please enter hours.minutes, i.e. 90 minutes is 1.5. If you have external transcription costs, enter the average monthly cost. Annual cost per transcription employee (include wages, benefits, FICA, etc.). Thank you for filling out the Cost Benefit Calculator worksheet, after you submit this form, one of our representives will review the information and send you back a personalized set of results via email.  It is Noteworthy's policy to never sell or redistribute the information that you provide.
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