Financial Implications of Implementing Electronic Medical Records

Information technology has enhanced operational activities throughout the health care industry. Much has been discussed in financial analysis, price, and acquisition discrepancies. The decision to acquire and implement technology, and justify the cost has perplexed physicians and health care facilities.

Assume you are an office manager in a physician’s group practice. As the office manager, you have been asked to review and explain the financial implications of implementing electronic medical records (EMR). You will address potential areas of financial concern and provide your recommendation to the physician’s group on whether or not to implement EMR.

Create a 12- to 15-slide Microsoft^® PowerPoint^® in which you outline the following areas of financial concern and conclude with your decision on whether you would recommend EMRs to the stakeholders. Include detailed speaker notes.Cite at least three outside sources and your textbook. Discuss the following areas with the focus on the financial aspects:

·Implementation process; This should be your introductory slide.

o    Why implement?

o    What is involved?

·Financing technology; Choose at least five.

·Capital budgeting

·Budget planning

·Depreciation

·Ratio analysis

·Projected revenue

·Overall costs

· Costs not considered in the implementation process; Choose at least two.

·Threat of litigation

·Layout of facility

·Life expectancy and value of equipment

·Maintenance

·Increase in operational costs

·Financial incentives for implementing new forms of technology: Choose at least one.

·Government, such as Medicare reimbursement

·Physician groups: health maintenance organizations, preferred payer organizations, and individual practice association

·Health plans: pay-for-performance programs

· Quality improvement accreditation agencies: National Committee for Quality Assurance

·Tax credits

·Advantages and disadvantages

·Final recommendation

Format your presentation consistent with APA guidelines:

·Title slide

·Introductory or overview slide

·Slides presenting the information required for the assignment

·Detailed speaker notes with in-text citations

·Recommendation or summary slide

·Reference slide

Post your final project as an attachment.

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