Friday, July 31, 2009

The ROI on Speech Technology enabled EHR's

For a long time, big healthcare IT vendors have sold their EHR's citing that it reduces or eliminates transcription costs. What they don't tell you however, is the real cost of using their template-based documentation tool.

A study conducted by the AC group of 573 charts reported that entering data into the EHR took on an average 9 times longer than using dictation.

For a medium volume practice that would mean over $320 saved per day per physician using Speech-to-Text technology versus using Template based charting tool.

For a physician whose hourly wage is closer to $200 per hour, the true ROI is the time saved getting data inside EHR systems.

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