Main Content

EMR-ROI

MOSAIQ Oncology Electronic Medical Record Adds Value
 

Medical Oncology and Radiation Oncology EMR - Return on Investment Analysis

Elekta Software increases clinical and administrative efficiencies and productivity.*

  • Revenue increased by 31%

  • Payroll over-time decreased by 85%

  • A/R decreased by 15 Days

As healthcare organizations move toward implementing information technology to improve process efficiency, communication and patient care, financial considerations often require facilities to document their Return on Investment (ROI), a cost benefit analysis that captures the overall quality of an investment by measuring how much value has been added over time. The analyses discussed here will focus on the value added by MOSAIQ – Elekta Software’s oncology electronic medical record.

Financial ROI, or more generally, economic ROI, helps to place a specific number on this value by analyzing changes in certain quantifiable metrics. From time to time, facilities must demonstrate a financial ROI equal to the amount of the investment within a certain period of time, which is referred to as the Payback Period. In other cases, metrics such as increased revenue or improved cash flow are more relevant to decision makers questioning whether an oncology EMR is a sound investment for their facility.

There also are non-financial metrics which can be more difficult to quantify, but equally valuable, such as a decrease in stress levels as a result of a smoother clinical workflow. All of these are important benefits of a well-designed, functioning oncology EMR and have all been reported by Elekta Software users.

The oncology EMR ROI numbers discussed here use some of the more common metrics collected from Elekta Software users. These metrics tend to be good indicators of improvements in workflow efficiencies and financial condition, and have been used to further demonstrate a significant overall net benefit for having invested in Elekta's EMR software.


Increased Productivity with an Oncology EMR**

  • Average time spent looking for a patients chart: 6 minutes
  • Patients per day: 20
  • Time saved: 2 hours per day

That equates to 10 hours lost per week. With an EMR, there’s no more searching for charts and your staff can gain over 500 hours a year for more productive work.

Doctors report that they have gone from thinking in minutes to find chart to thinking in seconds.**


Increased Revenue with an Oncology EMR***

Capturing Missed Charges

One site ran a Multi-Code Capture Audit report over the previous year and found epoetin alfa that was given but not captured. They recouped approximately one million dollars.1

Oncology EMR Lowers Overhead

Another site reports that through attrition, they have gone from 31.5 FTE’s to 24 FTE’s to support the same 3 doctors.2

This same site reports that since the implementation of PhAST Note™ they have gone from 4 to 2 transcriptionists.3

Footnotes

* Revenue increases were measured at a large 400+ Elekta Software user Medical Oncology site in the Midwest (45 physicians, >275 support staff, 3 major hubs, and 3 satellite offices) Increases were measured over a one year period. Increases were attributed to improved charge capture, reduction in billing error rates and improved E&M coding with Elekta Software.

Payroll OT decreases measured at the same large Midwest site decreased from $10,000 to $1,500 per payroll period.

A/R days decrease was measured at West Michigan Cancer Center (10 physicians, 110 employees, 7 satellite offices). Post Elekta Software Software implementation, A/R Days decreased from an average of 43 days to an average of 28 days.

** Source: Doctor’s report - Edwina Rains, Administrator at Oncology Hematology Associates, Joplin, MO, 2-14-06.

*** Source: 1. SCOA @ Elekta Software Summit 2004. 2. & 3. Edwina Rains, Administrator at Oncology Hematology Associates, Joplin, MO, 2-14-06.