How much does an EMR system cost
Topics
- What is an EMR?
- EMR pricing models
- The pay-per-provider model
- Pricing factors for EMR
- The Average cost of an EMR
- Additional costs
To learn about the cost of EMR, you should be aware of several factors. Namely, these include the hardware, software, EMR implementation, training, and maintenance. In fact, high EMR costs are a barrier to their adoption, especially for a small practice.
What is an EMR?
A reminder of What is an EMR is for your reference before we reveal how much does an EMR system cost. Basically, electronic medical records EMR are the digitized version of paperwork. Initially, EMRs contain the treatment and medical history of patients. You should not make a mistake between EMRs and EHRs or electronic health records. The latter is more holistic, includes many doctors’ records, and is a long-term overview of the profile.
EMR pricing models
To explain EMR pricing models is no easy task. They’re crucial to understand how much an EMR system costs. Sometimes, free EMRs have hidden costs. Moreover, estimating how much it will cost to get these systems can take many meetings and research. Therefore, understanding pricing models is essential. Initially, many factors played a role in the estimation. For example, EMR systems additions like scheduling and medical billing, types of users, number of patients, etc.
When evaluating EMR quotes, two initial model categories arise perpetual license and subscription license.
1- Perpetual license: this is when you submit an upfront fee in exchange for the license to own the software. In this case, with a total cost of ownership paid, usage lasts long. Commonly, on-premise deployments where you maintain and host systems in-house use this model. The recurrent costs include monthly, annual, or ad hoc maintenance. Along with premium support offerings. Secondly, the hidden software costs are customization, like reporting and analytics capabilities. Also, integration with pre-existent systems like business intelligence tools and Information Technology staff.
2- The subscription license is when you submit a fee every month. Allowing you for limit usage in the time of the EMR software. Often, cloud-based deployments with remote hosting and access on adequate devices use this model. The recurring costs include a monthly subscription fee and premium support offerings. Secondly, the hidden costs are customization, like note templates. As well as integration with pre-existing systems like healthcare customer relationships and storage.
The pay-per-provider model
One model remains, the pay-per-provider model. Models are directly linked to how much an EMR system costs. Undoubtedly, the pay-per-provider model is the most used model for pricing. Typically, it pertains to a fee paid monthly per provider in the practice. In some cases, with this model, you are also charged a setup fee or/and training fee. Some solutions pair this model with a “percent of collections” fee producing free EMR access. Of course, this applies if you use the company’s billing software.
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Pricing factors for EMR
To answer the question of how much an emr system costs, the pricing factors for EMR consider many aspects. Normally, you won’t get pricing data from your provider on the website. However, they will direct you to communicate with the sales team to get an estimation. Partially, the reason behind this obstacle is that many factors play a role. Here are the main ones.
1- Are you interested in an EMR alone? Or do you also want an integrating practice management application?
2- Who will access the system? Office managers, therapists, physician assistants, nurse practitioners, doctors? How many of them need special logins?
3- What is the number of your patients daily?
4- Do you plan to get extra help with the setup and training? Or do you have an IT staff to support you?
5- Is it the first time you have bought an EMR, or do you need to migrate?
6- What type of EMR are you interested in?
7- What is the size of your practice?
The Average cost of an EMR
One answer to the Average cost of an EMR doesn’t exist. Previously, we stated the many factors that contribute to an estimation. However, we can give you a range for each type of EMR price. If you opt for a one-time license fee, the price ranges between 1,200$ and 500,000$. That is, without the recurring and hidden costs. As for the subscription license, a monthly subscription fee per/provider ranges between 200$ and 35,000$. Finally, the pay-per-provider model remains with a price range of 200$ 700$.
Additional costs
It’s not the end, additional costs present themselves in pricing models. Implementing a new EMR includes extra charges no matter who the EMR vendors or the vendor offer you choose is.
1- Data migration: Your actual vendor extracts and exports patient information to be imported onto the EMR. This comes a lot of times as a surprising cost for the buyer.
2- Training: this depends on how extensive the training is. It varies between nothing and a bunch of thousand dollars.
3- Productivity losses: as you become used to entering and charting data, you’ll lose a bit of speed. Leading you to see fewer patients per day. Stay healthy financially when transitioning by setting up to three months of capital.
To conclude, remember the following: now that you know your way around EMR costs. First off, your needs will choose your costs for you. Second, make a lot of comparisons before purchasing. Third, don’t forget the overlooked and hidden costs.
If you have more cost knowledge needs, we, at the Ambula healthcare team await your call: (818) 308-4108! And now, is emr required by law?
