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Between 44,000 and 98,000 Americans die each year as a result of medical errors, making them the 8th leading cause of death in the United States. It is estimated that medical errors result in approximately $29 billion in excess health care expenditures and lost productivity each year.
Affinity Billing saves Physician’s Practice thousands of dollars by providing a leading-edge EMR technology bundled with the billing service at no extra cost.
EMR technology contributes to medical practice in four ways:
cost reduction, revenue enhancement, administrative efficiency, clinical efficiency.
1. Cost reduction with EMR
- Hire more physicians without hiring more admin
staff. Minimal time spent on chart management (searching, assembling,
reassembling, and filing charts) because of centralized management
with distributed access.
- Reduce cost of storage space (estimated $3 per chart)
- Eliminate cost to pull and refile chart = $5 * for all visiting patients + 60% for non-visiting patients; Chart pulls for non-visiting patients include medication refills, lab results, phone consultations, and correspondence.
- Create transcription savings from in-house to outsourced and spend more time on transcribing instead of on managing charts
- Reduce chart copy time
- Save on malpractice insurance (5%)
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