Canadian emr webinar-june 23-final.ppt

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CanadianEMR Webinar - How to Finance an EMR

CanadianEMR Webinar - How to Finance an EMR

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  • 1. Webinar – How to Finance the Cost ofan EMRJune 23, 2011Funding  to  support  this  Webinar  has  been  provided  by  Hewle7-­‐Packard      
  • 2. Webinar – How to Finance the Cost ofan EMRJune 23, 2011Funding  to  support  this  Webinar  has  been  provided  by  Hewle7-­‐Packard      
  • 3. Agenda•  High level of overview –  Dr. Alan Brookstone – 10 mins•  Experiences on the frontline –  Dr. Mark Dermer – 15 mins•  Alternative options –  Financing through a hardware vendor – 5 mins•  Q&A – 20-25 mins
  • 4. Health Expenditure 2010
  • 5. Financing Options – Important Questions•  How much does an EMR cost? –  Purchase cost –  Maintenance cost•  Should you… –  Pay for the EMR yourself? •  What are your options? •  Pros and Cons –  Take advantage of provincial funding? •  What is available across Canada? •  Pros and Cons
  • 6. Background - Canada•  Pre-2001 –  No option but to pay for the EMR directly –  No provincial funding programs for EMR –  Have to build a business case for an EMR based upon ability to improve practice efficiency and potentially increase revenue•  Post 2001 –  Starting with Alberta, a number of provinces progressively put funding programs into place to support the purchase of an EMR…
  • 7. Provincial Programs•  Funding programs are currently available in: –  Alberta –  Ontario –  British Columbia –  Nova Scotia –  Saskatchewan –  Manitoba•  Soon to offer programs –  Newfoundland –  New Brunswick
  • 8. Overview of Provincial Programs•  Alberta•  Ontario•  British Columbia•  Nova Scotia•  Manitoba•  Saskatchewan•  Others….
  • 9. It’s Not Just the Hardware and Software•  What else should you consider? –  Network –  Office re-design –  Hardware replacement –  Ongoing support and maintenance –  Internet or dedicated high-speed access –  Local Server vs. Remote Server (ASP or Cloud- based EMR)
  • 10. Dr. Mark Dermer 10  
  • 11. Central OttawaFamily Health Organization•  11 family physicians, 5.9 FTE•  4 nurses, 3.1 FTE•  Full Electronic Medical Record (EMR) since 2002 *Purchased without government funding•  Culture of integrating new evidence, setting clinical targets and continuously modifying processes•  EMR is key to our quality and efficiency of care
  • 12. EMR Business Case•  Reduced time spent by providers –  Prescription renewals –  “One-write” data entry –  Retrieving information within chart –  Finding patient record•  Reduced time spent by staff –  Eliminates chart pulls for visits and filing –  No need to carry paper from place to place –  Easy access to info to respond to phone inquiries•  Reduced chart storage costs•  Increased revenues –  Greater capture of charges earned in an encounter –  Prompts increase services and associated fees per visit
  • 13. Cost of Adopting an EMR •  Two types of possible costs to physicians –  Transitional – implementation and optimization –  Ongoing – persistent reduced productivity •  Transitional costs are unavoidable •  Must avoid ongoing reduced© Mark Dermer, 2003
  • 14. Comparison:EMR Costs to EMR Savings•  Based on 5 half-days at EMR site –  Labour time savings $26.00/day –  Physician time saving $67.00/day•  REVENUE•  $94/day  $1,883/month  $22,600/year•  COST•  $54/day  $1,077/month  $13,000/year•  After first 4 years, cost drops to $11,000/year
  • 15. EMR without Connectivity: An Island
  • 16. Patient Self-Service•  Kiosk•  Web
  • 17. Additional EMR Staff Efficiencies with Connectivity and Self-Serve •  No scanning 0.75 hrs/day •  Dramatic reduction in phone work •  Patient calls for appointments 1.00 hrs/day •  Pharmacy calls for renewals 0.50 hrs/day •  Patient calls for results and questions 0.25 hrs/day •  Calls to arrange consults and tests 1.00 hrs/day •  Dramatic reduction in reception work •  Patients arriving 0.25 hrs/day •  Patients leaving 0.50 hrs/day •  TOTAL 4.25 hours = $85 per day© Mark Dermer, 2003
  • 18. Matthew Debolt 19  
  • 19. About HP Financial ServicesWho we are Business model–  HP’s wholly owned leasing and financial •  End-to-end model, control of all services subsidiary business functions–  One HPFS worldwide, complete •  Leadership team with 150 years of global linkage combined financial services experience–  Full range of financial lifecycle management •  Oversight by HP Board of Governors services – transition, acquisition, •  Five consecutive profitable quarters management and disposition •  P&L accountability, segment reportingMission Size and scope•  Enhance HP’s worldwide sales efforts by •  $11.2 billion in assets providing a broad range of financial services •  More than $3 billion in annual revenue, and asset management capabilities that nearly $6 billion in annual financing volume positively impact HP’s customer/partner •  1,100 people in 40 countries relationships and enhance shareowner value •  Manage 1.2 million units in secondary•  Achieve financial performance comparable markets annually to the world’s best performing financial services companies •  Multi-vendor/multi-technology financing for transactions from $399 to multi-millions
  • 20. HP Financial ServicesPosition Second largest IT captive financing organization worldwideFunding model Direct access to capital; no reliance on third partyExpertise Expert in acquisition, management and retirement of assetsGlobal reach Global capabilities with a presence in 40 countries around the world
  • 21. Programs–  24, 36, or 48 month terms–  Fair market value, dollar buyout and bargain purchase option available–  Finance 100% of the total solution, including 3rd party equipment and software–  Special payment structures designed based on your needs–  Quarterly Promotions •  0% 12 month $1 Buyout – thru 7/31/11 •  0% 36 month Fair Market Value – thru 7/31/11
  • 22. HP Financial Services Contacts–  Susan Holmes •  813-907-3030 •  Susan.holmes@hp.com–  Wayne Leblanc •  905-206-3640 •  Wayne.leblanc@hp.com–  Matt DeBolt •  719-592-6832 •  Matthew.debolt@hp.com
  • 23. Questions & Discussion
  • 24. Questions & Discussion
  • 25. Questions & Discussion
  • 26. Webinar – How to Finance the Cost ofan EMRJune 23, 2011Funding  to  support  this  Webinar  has  been  provided  by  Hewle7-­‐Packard      
  • 27. Webinar – How to Finance the Cost ofan EMRJune 23, 2011Funding  to  support  this  Webinar  has  been  provided  by  Hewle7-­‐Packard