EHR & Practice Financials Named Biggest Challenges
NEW YORK CITY (September 18, 2012) – Hello Health®, the leader in revenue-generating EHR and patient management technology, today announced results from its Primary Care Physician Attitudes Survey. The survey, conducted March through July of 2012, asked more than 100 practicing physicians currently without an EHR, but with plans to implement within the next year, what they saw as the biggest challenges facing their practices.
Findings from the survey show:
- 37 percent of physicians see EHR as their number one challenge while the same percentage list a practice financial issue as their primary concern
- Among physicians for whom practice financials is the biggest challenge, 51 percent of respondents felt implementing an EHR would help
- The most common reasons for anticipating improved financials after implementing an EHR were improved coding and documentation to substantiate claims, followed by improved efficiencies and reduced costs
- Among responses that implementing an EHR would not help address practice financials, 46 percent of responses cited higher costs and overhead as the reason while 15 percent stated that productivity would decrease
“Incorporating an EHR into the practice is necessary in modern day medicine, but I had been hesitant to implement because of perceived cost and functionality issues as well as concern over changing the way I provide care and communicate with patients”, said Winfield Young, MD of Pediatrics of Kempsville, located in Virginia Beach, Va. “With the Hello Health business model not only do I receive the EHR-based technology platform my practice needs, but I can generate additional revenue at no cost.”
Traditionally, a large percentage of revenue lost for physicians stems from unscheduled inbound calls for refills or access to medical documents. The Hello Health Platform solves this problem by providing a platform which allows physicians to charge for requests from third parties, such as law firms and insurance companies. In addition, patients pay a small nominal fee to access scheduling, video visits and records.
“There is a substantial amount of data that shows physicians fear they will not be able to stay in business long-term because so many practices are suffering financially,” said Nathanial Findlay, founder and chief executive officer of Myca® Health, parent company of Hello Health. “The results of our survey certainly echo that fear. That’s why Hello Health remains committed to offering physicians the solutions they need to provide the best care possible to their patients, while reducing overhead and increasing revenue.”
About Hello Health Inc.:
New York City-based Hello Health Inc. is dedicated to transforming primary care by connecting patients and physicians through technology. The company’s Patient Management platform integrates an electronic medical record, practice management capabilities and a patient health portal on a single, secure platform. Hello Health is free to primary care practices and generates incremental revenue through a patient subscription model. A subsidiary of Myca Health Inc., Hello Health collaborates with leading organizations who offer complementary and strategic solutions that connect patients and physicians.
Learn more at www.hellohealth.com.
VP of Physician Marketing
Amanda Griffith / Lindsay LeCain
Hello Health® and Myca® are registered trademarks of Myca Health Incorporated.