Is It Time for a Transformative Investment in Your Practice?
Published by Madhu Singh on
Fri, Jan 21, 2022 @ 09:01 AM
For many practices, a transformative purchase is something that either turns over large profits or permanently (and positively) influences the staff's everyday efficiency and and patients' satisfaction. We've found that choosing software can be transformative in all three of those aspects.
Dr. Tia Horie recently wrote this article for Review of Optometric Business where she recounts three investments she made that resulted in thousands of dollars of profit for her eyecare practice. "I was using a general medical EHR system, and I needed something more specific to optometry. Starting in January 2022, all prescribed medications have to be sent electronically. I wanted to have an EHR system in place that allowed for eRx. This fall we started using Uprise EHR by VisionWeb." Keep reading to get the full scoop:
Generating Over $650 More Monthly in Your Eyecare Practice
ROI:Profit will come from being able to maintain the office visits and our medication prescription capability and from a decrease in costs for physical goods. We see about 10 patients on average per month for office visits that require medication prescriptions. With the incorporated eRx feature, we are able to continue seeing those patients and keep the approximately $550 per month of revenue those patients bring into the practice.
Additionally, there will be a savings in paper, toner, filing supplies and filing cabinets. That cost I estimate to be about $100 a month. With all of that considered, I expect to break even after 7-8 months. I expect to start profiting from this investment in 8-9 months. Once we break even, this system can help us maintain and eliminate costs equal to about $650 a month in revenue.
In addition, there are logistical improvements enabled by a switch to a high-quality EHR. Paper charts often get lost. Electronic charts offer more organization and decrease the chance of losing records. Having an EHR allows for charting that makes sure that all insurance and exam minimum requirements are met. We can save on the cost of paper, and it is better for the environment.
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