How to comply without hurting your bottom line

Earlier this year, many states – California, Maryland, Michigan, Nebraska, Washington, Utah and others – passed legislation requiring electronic prescriptions for controlled substances. With e-prescribing now the required standard in two-thirds of the United States, it can only be expected to be mandatory in the remaining 17 states shortly.

As thousands of physicians begin to embark on the process of finding an e-prescribing solution, there are likely to be barriers to implementation, one of the biggest being cost. Physicians already pay an average of more than $10,000 in monthly maintenance fees for their practice[1][2]. On top of that, they will now have to pay an average of $42,332 for implementation and $1,227 per month for an e-prescribing solution.[3].

Practices already prescribing online have likely seen the cost savings this brings, not just due to reduced visits, but largely due to efficiency. While entering a prescription into a practice’s EHR or separate e-prescribing software can take longer, there is less time spent calling pharmacies to clarify what is being prescribed, requests for renewal and more. Not only does e-prescribing save doctors time, it improves patient care now that doctors can get their prescriptions quickly and seamlessly.

With many e-prescribing solutions on the market, it is imperative to choose one that meets a practice’s current and future needs. This means it should be compatible with a practice’s EHR software – allowing doctors and their staff to extract pre-recorded patient information and then send medication to a pharmacy in seconds, as well as record prescription data in patient records. The solution should also have a simple pricing structure, as many existing solutions have many hidden fees and additional fees for controlled substances. Physicians have already invested money, time, and resources in earning their medical degrees and starting their practices, and with the looming deadline, they should seek an e-prescribing solution at a time. profitable and complete.

As electronic prescriptions become necessary across the country, EHR platforms are seizing the opportunity to add additional fees for this capability. Myriad Health, the first ever truly free EHR and billing software, provides unlimited ePrescriptions at no additional cost. This includes prescribing controlled substances in all states, refills, patient eligibility, formulary and medication history. Practitioners can also view estimated out-of-pocket costs for a prescription, drug alternatives, pharmacy distribution channels, and coverage details, all within the practice management software.

About the Author

Jeremy Shiner – Founder and President, Meta Technologies

Jeremy Shiner is an expert on the healthcare revenue cycle and practice management. He and his team have helped thousands of medical practices improve office efficiency and reduce customer account balances. As Founder and President of Meta Technologies, he is committed to strengthening and preserving private practices with Myriad Health, the first-ever truly free EHR and billing software, and MediPay Compliance Consultants, the only payments exclusively dedicated to health care.

[1] Palmer W. How much does it cost to start a medical practice? Wolters Kluwer. Published February 7, 2021. Accessed February 25, 2022. https://www.wolterskluwer.com/en/expert-insights/what-is-the-cost-of-starting-a-medical-practice

[2] Green J. How much does the EHR cost and how to budget for it. DSE in practice. Published November 9, 2021. Accessed February 25, 2022. https://www.ehrinpractice.com/ehr-cost-and-budget-guide.html

[3] Porterfield A, Engelbert K, Coustasse A. Electronic prescribing: Improving the efficiency and accuracy of prescribing in ambulatory care. Perspectives in health information management. 2014;11. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3995494/#:~:text=According%20to%20the%20Health%20Resources,10%20full%2Dtime%20equivalent%20psychiatrists. Accessed February 25, 2022.