Survey: Practices with EHRs report better financial performance
The Medical Group Management Association’s recently released survey, “Electronic Health Records Impacts on Revenue, Costs, and Staffing: 2010 Report Based on 2009 Data,” reveals that medical practices with electronic health record (EHR) systems report better financial performance than those without EHR.
Private practices without hospital ownership using EHR reported greater total expenses than those with paper medical records, but they also reported greater total revenue. The same held true for hospital-owned practices.
While total expenses for practices with EHR were higher, after five years, these practices reported an operating margin 10.1% greater than in their first year of using EHR.