Company offers incentive calculator, cost analysis tools for practices transitioning to Electronic Medical Records
SAN FRANCISCO, CA - May 10, 2011 - Practice Fusion, the fastest growing EMR and healthcare community, has saved doctors an estimated $57 million to date with its free Electronic Medical Record (EMR) system. To help more doctors calculate the savings they can expect using the company's technology, Practice Fusion today launched a savings analytics tool comparing its free EMR with other top paid systems and paper records.
Practice Fusion''s innovative ad-supported business model allows any doctor to access a totally free EMR, including support, training and unlimited user accounts.
"With more than 400 EMR offerings on the market, doctors can be overwhelmed and struggle to understand what an EMR transition could mean to their bottom line," said Ryan Howard, CEO and Founder of Practice Fusion.
"Small medical practices can't afford to make a mistake with their technology choices. Nothing beats a free EMR and we've done the math to show doctors exactly what they'll save with us, what they would have to spend with other systems, and how much they'll get to pocket in stimulus incentive dollars under Meaningful Use."
The EMR Calculator offers four critical tools with interactive dials for EMR incentive program enrollment year, the number of doctors per practice, and estimated Medicare charges per doctor, to calculate:
- How much practices can expect to save by adopting Practice Fusion
- Expected EMR stimulus incentive payments by year
- Total expected stimulus incentive payment for the practice
- The financial benefit of Practice Fusion vs. paper
Physicians across the US are preparing to receive up to $44,000 from Medicare for demonstrating the "meaningful use" of an Electronic Medical Record (EMR) system, but many of these doctors will hand their incentive dollars back to EMR vendors through the ongoing costs associated with licensing, maintaining and updating software. The EMR Calculator shows how using Practice Fusion from 2011 onwards, a small practice of three 'Meaningful Use' doctors, with annual Medicare charges of $24,000 per doctor, can expect to receive $132,000 in cumulative stimulus payments - while the average EMR would result in a net loss of up to $160,000.
"We've already saved American doctors around $60 million with our free EMR and with Meaningful Use payments on the horizon there's a real opportunity for cash-strapped medical practices to replace paper charts while also improving their bottom line," said Robert Rowley, MD, Chief Medical Officer of Practice Fusion. "It's a no brainer - save on the cost of an EMR, keep the $44,000 to reinvest in your practice and deliver better care to your patients."
The EMR Calculator is available for free, along with additional resources on Meaningful Use guidelines and the healthcare stimulus program, at www.practicefusion.com. Practice Fusion's free, web-based EMR is ad-supported and available to any doctor in the US.
About Practice Fusion
Practice Fusion provides a free, web-based Electronic Medical Record (EMR) system to physicians. With charting, scheduling, e-prescribing, billing, lab integrations, referral letters, unlimited support and a Personal Health Record for patients, Practice Fusion''s EMR addresses the complex needs of today''s healthcare providers and disrupts the health IT status quo. Practice Fusion is the fastest growing EHR community in the country with more than 80,000 users serving 11 million patients. The company closed a $23 million Series B round of financing led by Founders Fund in April 2011. For more information about Practice Fusion, please visit practicefusion.com.