Can EHR Save the Private Practice?

Lea Chatham October 22nd, 2013

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In the past few years, some studies have suggested that the private practice–especially those with fewer than 10 providers–is on the way out. One study reported in JAMA Internal Medicine suggested a steady decline of 2% a year. However, other recent surveys show that this isn’t the direction that providers want to go in, and it isn’t what patients want. The Physicians Foundation reported that only about 15% of physicians were employed by hospitals in 2010 and even in the most competitive markets, 40% of physicians remained in practice with five or fewer providers. The 2013 Great American Physician Survey, conducted by Physicians Practice and sponsored by Kareo, also indicated that the majority of physicians hope they will be doing the same thing in five years that they are doing now.

There are many challenges that stand in the way of maintaining autonomy, but it is certainly not impossible. Not only is it possible to suvive, but with the right tools it may be possible to thrive and grow. The solution is technology, and not just one piece of software but a fully-integrated seamless package of solutions from a single vendor according the 2013 Black Books Rankings. The Black Book survey also suggests that most physician practices know that to remain independent they will have to make changes.

The willingness to change is important because success may rely on seeing your practice as a business and carefully considering and evaluating your bottom line. While many physicians in practices with five providers or fewer are still hesitant to adopt and EHR (only about 50% have an EHR today), the potential benefits are indisputable as shown in this infographic. They include a nearly 10% average increase in revenue, cost savings on supplies, records management, and transcription, and an average increase in coding of 3.5%. The infographic shows the potential for an EHR to improve revenue and patient care. With today’s affordable, cloud-based solutions (EHR, practice management, and billing) it is certainly possible that even the small practice can be saved by technology.

Click here to see a higher resolution version of this infographic or download it to share with others.

Infographic - EHR

 

1 Comment »

    Are Small Practices Well Served By EHRs? - Electronic Health Reporter said:

    [...] come to quietly respect (the company does not sponsor this site in any way) issued the following graphic (something else I have come to really like). I’m a visual person and there’s often no [...]

    Wednesday, February 3, 2016 - 1:01 pm

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