Financial Impact Calculator

Imagine deriving all the benefits of an EHR without having to lift a finger to perform any kind of documentation. Not even dictation. With an MC handling all your EHR data input, you will save hours a day, every day. Instead of being a data troll, you can now focus on what you’ve been trained to do: practice medicine. Let’s check out the financial value proposition.

InvestmentThe cost for having an MC on your staff will be approximately $20 per hour for salary and benefits. The early-adopting physicians are able to see one additional patient every hour. But let’s be conservative and assume that your practice will see one additional patient just every two hours.

Estimating the additional revenue for each visit at $80, your MC-empowered practice will earn an additional $80 every two hours. Over an 8-hour day, the MC solution will result in a revenue increase of $320, netting $160 after subtracting the cost for your MC. That amounts to $40,000 in added income over a 250-day work year. Conservatively.

Your investment for hardware (iPad, etc.), Valadoc’s MC Training Program, and the MC’s salary while training for 3 weeks will be about $6,000. The additional $160 per day will pay this off in less than 2 months. And then you’ll be increasing your net income by about $3,500 per month. Naturally, this calculation will vary depending upon your average revenue per encounter as well as some other factors. If you achieve the same efficiencies as our early adopters, your net monthly income increase will be closer to $10,000.

Additionally, you will practice medicine the way you want:  focusing on the patient, rather than on data entry, leading to higher quality care.  You will enjoy your time in clinic and will have more time with your family – without bringing home documentation chores.  Patients are happier too, since they appreciate the eye contact.  And MCs typically provide better documentation than you could ever accomplish yourself.

Valadoc can also provide your MC as a service. You would then have no upfront investment.