Electronic Medical Records  Medical Record Errors Illegible handwriting Medical Abbreviations Handwritten medical notes Accuracy  But is costly Training Setting up software

 Choosing Software  Choosing Vendor  Testing  Training  Support

Capital Expenditure Long-term improvement Costs  Medical equipment expenditure  Very costly lawsuits  Electronic Medical Records will reduce medical errors

Current value value of a future payment on a given date  Definitely financial gain - Huge saving on implementing an EMR  Reduction in Lawsuits Undesirable Drug Events Needless medical testing Additional hospital stays Unapproved claims

Projected Revenue to estimate what will the revenue be Electronic Medical Records save expenses by  Reduction in Office personnel and staffs transcriptionists chart storage cost  Enhances emergency room coding evaluation and management coding

Opportunity Costs The cost of passing the next best choice when acquiring a decision  One option vs another option  Implementation cost  Comparing financial loss in each options

Overall Costs Costs required to implementing EMR  Hardware  Software  Training staff support user friendly

 Legal Threats Reduction in Lawsuits Lifetime storage  Maintenance Yearly maintenance cost Increase in utility bill

 Federal grants Medicare incentives Tax credits Software stimulus packages

Advantages Patients Improved healthcare Accuracy Faster treatment & decisions Organization Transferring patient information Increased number of patient seen daily Reduced operational costs

Disadvantages Patient Privacy Distractions Reduced personal touch Organization Costly Maintenance Training