With rising healthcare costs and demands from healthcare reform initiatives, private medical practices are struggling to maintain their independence. Physicians have specifically cited reimbursement as key factors to the profitability of their practice, according to a recent survey by Medicus Firm.
However, EHRs have the potential to improve increase revenue by as much as 10% including cost savings on supplies, records management, and transcription, and an average increase in coding of 3.5%. Of private practices with five or more physicians, an average of just 50% report having an EHR. The following infographic shown below created by Kareo illustrates the advantages of EHR adoption to attain meaningful use, increase ROI and improve patient care.