Electronic Records Cost Recouped Over Time

The current issue of the Journal of the American College of Surgeons includes an article from a University of Rochester team that evaluated the costs, over time, to implement an electronic medical records systems. The group noted that their initial investment to adopt the system delivered a return in a relatively short time period; paying for itself within 16 months.

The group evaluated data from five different outpatient practices, including 28 clinicians. They evaluated costs that are integrated into EMRs, such as retrieving patient records and salary for support staff both before and after each practice implemented electronic records.

Their findings indicate a decrease in costs associated with these tasks that had previously been completed manually. Cost savings on an annual basis neared $400,000, this was particularly associated with the time and cost required to pull patient records.

This decrease in costs offset the investment to install the system, as well as costs to operate such during the first year, which were approximately $490,000. The team noted the cost benefits of system implementation can be achieved well with eighteen months of adopting an electronic records solution.

The Rochester group also considered the long term savings after the initial implementation. Annual costs to operate the software and requisite components are approximately $114,000. The annual savings amount to well over a quarter million dollars each year.

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