Progress—especially where technology is concerned—by definition should move your business forward; otherwise it would be called regress. One health system in Ohio is learning the hard way that failing to recognize the cost of moving to a new EHR system can put a serious dent in your annual earnings report. In fact, ProMedica says its $1.9 million first-half loss was “primarily driven by significant expenses due to the implementation of the Epic electronic health record launch.” Federal incentives have moved many healthcare facilities to install or replace EHR systems over the past few years, with most relying on a relatively small group of vendors, Epic among them. One important lesson that could prevent you from experiencing similar losses is to remember that the cost of new technologies doesn’t stop once a system is installed. Ask your prospective vendors what costs you can expect to incur down the road, such as those related to updates and system maintenance.
Plan Ahead for Cost When Upgrading Systems