• Aug 15

    Versio Staff

    Are You Willing to Lose $15,000 per Month… per Provider?

    by  Versio Staff

    Healthcare data is unlike any other kind of data, and it requires near-perfect accuracy. Properly moving it from a legacy system to a new one is a daunting undertaking for any organization. Many underestimate the complexity and do not plan resources or budget for this work. They may worry about the operational impact not having their data in place, but many times the budget concerns of today override a future risk that is hard to quantify. The problem can often be so overwhelming that some decide not to move their data at all.

    This can be a costly mistake! For those who might be struggling with price versus value, let’s take a look at what NOT moving historical data will cost.

    The example here has been validated by one of our clients as a realistic representation of what a hospital/health system may face, based on the experiences of the CIO.

    BEFORE GO-LIVE: Providers typically see an average of 20 patients per day.

    PLAN:

    1. Cut schedules 50% for the first 2 weeks after go-live, then quickly ramp back up.
    2. MAs or providers hand-key the legacy data into EHR at the time of the visit.
    3. Alternatively, MAs or HIM staff hand-migrate data in between patients or after hours.

    RESULTS:

    1. Visit times lengthen from 10 minutes to 60 minutes.
    2. In-house hand migration results in significant staff overtime.
    3. Productivity slowed to the point providers can only see 5-8 patients per day.
    4. Return to prior patient loads significantly slowed.
    5. Doing double duty overtaxes staff, impacting job satisfaction.

    HARD COST:

    1. Revenues already decreased to 50% due to planned short scheduling, are reduced to 25%.
    2. At $150 per visit, losing 5 visits results in revenues reduced by $750 per day per provider.
    3. If this continues just 1 month (it’s usually longer), the cost impact is $15,000 per provider.
    4. Alternatively, using internal staff costs at least $25 per patient chart, more if labor runs into overtime or if higher-priced staff has to be utilized.

    SOFT COSTS:

    Hand-keying data during visits:

    1. Patient dissatisfaction due to long visits.
    2. Errors due to hurrying, and inconsistencies in data entry.
    3. If relying on patient intake forms, risk of inaccuracy and incompleteness.
    4. Unhappy providers who are struggling already to learn the new system and are expected

      to type extra.

    In-house hand migration:

    1. Quality and consistency of migration effort are compromised.
    2. Significant disruption of operations.
    3. Risk of not staying ahead of patient visit schedules.
    4. Unhappy staff due to long work hours.
    5. Other important tasks go undone.

    VERSIO’S ALTERNATIVE:

    1. Versio’s costs: $7 to $15 per patient chart (one chart could affect many visits), compared to $150 in lost revenues per patient visit.
    2. Allows organization to return to prior productivity faster, or not cut schedules back so far to begin with.
    3. Focused effort produces near-perfect quality, virtually 100% data capture, and highly consistent results.
    4. There are some staff costs on the client’s side, but they are minimal and can be planned ahead of time rather than ad hoc, making them more tolerable.
    5. Pre-project consultation is included at no additional charge.

    Versio will provide you with a clearly more cost-effective solution for the data migration portion of your EHR implementation. Please consider a short conversation and a demonstration of our unique process. This will be time well spent and ultimately a huge benefit to your staff, your organization, and the patients you serve. Contact us: sales@myversio.com or 253-277-0505

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