COST

Cost Justification
Although most practices only consider hard dollars when determining the cost-effectiveness of a medical computer, it is the intangible benefits that they enjoy most, once the system is installed and working.

TANGIBLE BENEFITS

1. Increased Revenue:
   - Quicker payment from electronic insurance filing
   - Automatic secondary carrier billing
   - Centralized pricing eliminates billing errors
   - Reduced lost charges resulting from better control
   - Improved cash flow from reduced collection cycle
   - More revenue due to correct billing procedures
   - Additional time for collections to increase revenue
   - Higher profits from controlling clerical costs
   
2. Cost Displacement:
   - Elimination of a billing service
   - Reduced clerical costs, and collection agency costs
3. Cost Avoidance:
   - Practice growth without adding clerical staff

INTANGIBLE BENEFITS

1. Better Management:
   - Access to medical information for better patient care
   - More informed planning for future requirements
   - Patient recall avoiding abandonment liability
   
2. Improved Practice Image:
   - Professional looking statements
   - Accurate statements and insurance information
   - Faster response to patient billing inquiries
   
3. Great Operations Efficiency:
   - Centralized information in computer system
   - Faster information access from multiple workstations
   - Elimination of lost patient information
   
4. Better Employee Productivity and Morale