Ultimately, you adopt EHR for the financial and non-financial viability of your practice.  Therefore, it is important that you set the right expectations on how EHR adoption will affect your practice in both of these areas.

The financial benefits are small compared to the non-financial.  Financial benefits include such things as improvement in revenue cycle; reduction in unbilled services, days in A/R, denials, time savings and some small paper supply and storage efficiencies. 

Included in financial benefits are the HITECH financial incentives.  Although HITECH financial incentives shouldn’t be the only reason you decide to adopt EHR, it certainly can help lower some of the out-of-pocket investments.  If you meet the criteria of an Eligible Provider and can prove ‘Meaningful Use’ of a Certified EHR, you can qualify to receive up to $44,000 per provider in HITECH financial incentives. Providers that don’t adopt EHR and demonstrate ‘Meaningful Use’ will be subject to penalties in reimbursement beginning in 2015.  

Non-financial benefits are extensive and include data accessibility, information management, standard practice maintenance, risk reduction, brand and competitive advantage and ‘customer’ (staff, patients, stakeholders, and partners) satisfaction. 

The most valuable non-financial benefits of an EHR are the collection, exchange, and use of data to support better decision making and higher quality healthcare.  As you begin using your EHR, you will discover its ability to create new models of care and how that favorably impacts your practice.  You will also realize that data will give you greater business intelligence to analyze where your strengths and weaknesses reside, and to position your practice for success with contracting leverage, pay-for-performance plans, and accountable care organizations.