Return On Investment

We present 2 case studies of actual Patient Minder users and the return on investment (R.O.I.) they received by using the program. The numbers are real data and were gathered over two 6 month periods that were two years apart. They are not estimated or massaged in any way. The "Pre Patient Minder Period" was from 5/1/2000-10/31/2000, and the 2 physicians dictated all their medical records. The "Post Patient Minder Period" was from 5/1/2002-10/31/2002, and the same 2 physicians used Patient Minder for all their medical records. The same months were compared for each time period to eliminate any seasonal variation in patient flow.

It is interesting to note that patient encounters for both physicians actually decreased between the time periods studied. This can be explained by the fact that two additional physicians were added to the practice between those time periods, decreasing the patient visits of the existing physicians. Much more interesting however is that inspite of that decrease, both charges and receipts increased considerably! So essentially these physicians did less work and made more money. Isn't that a switch in this day and age? That's an equation that really adds up.

This very brief R.O.I. scenario does not take into account any cost savings. If you currently dictate your medical records you will start to save money immediately. Add in the money saved on chart pulls and you will be able to recoup your initial investment very quickly. When properly used, the payback from Patient Minder can be substantial.