1. What is electronic medical records (EMR) software?
Medical Practice Management Software Companies List
Electronic medical records (EMR) software allows medical practices and healthcare facilities to record, organize, and manage patients’ medical records. EMRs are the digital imprints of prescriptions, charts, and the complete treatment details of patients. This software uses industry-approved CPT codes for recording and streamlining data entry.
EMR software helps practitioners upgrade from the traditional pen-and-paper approach to an electronic recording system. It even helps them enroll for Meaningful-Use (MU) incentives offered by the United States government.
0 Top 10 EMR Software Companies in 2019. There are numerous EMR Software Companies providing comprehensive and useful cost-effective EMR software, making the search for the right fit for your business a daunting task. Largest firms. This list shows firms in the Fortune Global 500, which ranks firms by total revenues reported before March 31, 2017. Only the top five firms (if available) are included as a sample. 301 Volvo $35,269 89,477 Multinational manufacturer of trucks, buses, construction equipment and engines. Best Medical Billing Software Companies List: GENESISCHIROPRACTICSOFTWARE.
EMR software is closely related to electronic health records (EHR) software and is often sold as an integral part of the practice management software suite.
2. The benefits of electronic medical records software
EMR software helps doctors and medical practices save their time and effort by digitally recording patient details and reducing manual data entry. Some of the key benefits of using EMR software are listed below:
- Better record management, fewer medical errors: Medical records are a patient’s entire medical history, which includes their personal information, allergies and symptoms, treatment details, prescriptions, charts, and drug history. These records pile-up as the treatment progresses. It becomes difficult to manage all this information for hundreds and thousands of patients, especially when the records are stored on paper. EMR software helps patients and doctors record information electronically, which doesn’t take up any physical space. This saves the records from physical damage, being misplaced, or lost. As the records are entered in a set format using standard CPT codes, you can prevent hand-transcribed errors by doctors.
- Easier transfer of data: Usually, medical records are shared across departments for discussions, further tests, or final billing. But paper files have the risk of getting misplaced during transit or having incorrect test results added to the file. With digital files, medical records can be easily shared without fear of wear and tear. Also, the chance of pages getting misplaced is eliminated. Records can even be accessed remotely in case the doctor or patient is traveling.
- Enhanced productivity: EMR software helps practices accurately bill patients for the treatments and services offered. It also automates the task of filling forms, giving practitioners more time to look after patients instead of drowning in paperwork.
3. Typical features of electronic medical records software
- Charting: Prepares a comprehensive record of the patient's clinical data and medical history such as demographics, vital signs, medications, treatments, and laboratory notes.
- Code and charge entry: Assigns an appropriate cost to treatment codes, allowing you to bill patients according to the codes listed on their prescriptions or checkout bills.
- Decision support: Provides doctors the relevant information to support their decisions about patient care. This information is the analysis of historical data and records.
- Order entry: Enters and sends medication orders and treatment instructions electronically from within the application.
- Appointment scheduling: Books patient appointments, displays bookings on a calendar, manages no-shows, waitlists, and reschedules requests.
- Compliance tracking: Tracks core practice operations to ensure that they are performed in accordance with the medical industry standards and regulations.
- Self-service portal: Offers a dedicated portal for patients where they can book appointments, communicate with their doctor, receive test results and prescriptions, as well as make payments.
4. The cost of electronic medical records software
Most products in the market are priced on a “per user, per month” basis, and can be divided into three pricing tiers based on their starting price.
Price ranges*:
- $0 - $65
- $65 - $225
- $225+
*The pricing included is for the entry-level/lowest-priced offering that was found on vendor websites on April 15, 2019. These ranges correspond to the 25th, 75th, and 100th percentile of the pricing information gathered from vendor websites of sample products.
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Largest Medical Software Companies
The above list summarizes pricing for the base plans of most products. An enterprise, or premium product, which is priced higher, may include some additional features such as compliance management, internal messaging, and claims scrubbing.
5. Considerations when purchasing electronic medical records software
With so many options available in the market, it isn’t easy for medical practices to find and select the right EMR software. Buyers need to keep the following points in mind when purchasing EMR software for their practices.
- Integration with other medical systems: If you already use medical software, such as for practice management, electronic health records (EHR), or billing, we recommend choosing an EMR system that integrates with your applications. This will facilitate smooth data sync across applications and prevent repetitive data entry. If you plan to purchase a new practice management solution for your clinic, give preference to solutions with a built-in EMR module.
- Relevant features: It’s important to shortlist all the software features your practice will need. Often, practices buy software without evaluating the core features, strengths, and limitations. Capterra research estimates that nearly 75% of software features are never used. We recommend making a list of your critical processes and identifying the key feature requirements to narrow down vendors and solutions that fit your needs.
- General practice versus specialty: Many vendors offer EMR solutions that specifically cater to a specialty practice. These solutions have detailed charting templates or interfaces, which a general practice solution may not. If you run a core specialty, such as pediatrics or orthopedics, opt for specialty-specific EMR products. This way, your won’t have irrelevant fields and your staff can easily record details in the specific templates.
6. Relevant electronic medical records software trends
- AI to offer better decision support: EMR software is about recording patients’ medical details in an organized manner. But what's the point if you can’t use this exhaustive medical database? Some EMR software vendors are adding artificial intelligence (AI) capabilities to analyze large volumes of medical data and make important clinical and treatment-related decisions. AI is also aiding in developing new drugs and making patient diagnoses with the help of collective data gathered from the older records.
- Internet of medical things will continue to rise: According to independent research, the number of medical IoT devices grew from 56.5 million in 2017 to 125.4 million in 2018. It’s expected to keep growing because of the numerous opportunities in the medical sector. Doctors are attaching multiple sensory devices to patients during treatment for live monitoring of key indicators such as the heart rate, body temperature, and blood pressure.
Other trends that are going to impact the EMR software market include the greater adoption of cloud-based EMR software and numerous dedicated mobile apps for both doctors and patients.
Sources
Products evaluated for the pricing calculation were taken from the Capterra’s Top 20 report. The pricing ranges exclude freemium versions of the products. The features highlighted were identified based on their relevance and the percentage of products in Capterra directory that offer them.
The following sources were used for this document:
- Top 5 Tech Trends for Small Business, Capterra (Date accessed: April 16, 2019)
- How to Buy the Right Electronic Medical Records (EMR) Software, Capterra (Date accessed: April 16, 2019)
- The Future of Health: innovative Trends in Medical Software Development 2019 (Date accessed: April 16, 2019)
- 3 EHR Trends Small Practices Need to Know About, SoftwareAdvice (Date accessed: April 16, 2019)