In prior articles we’ve discussed how you can use MedKaz® to streamline your workflow, enjoy interoperability, deliver better, coordinated, lower-cost care and reduce burnout. (See: We Can Enjoy Interoperability Today!)
Now, let’s flip the coin and look at another critically important MedKaz® benefit— how it generates new profits for you and delivers an extraordinary ROI. In short, let’s “follow the money!”
Understanding the MedKaz® Payoff
A prerequisite for using MedKaz is that each exam room be equipped with a new “instrument” — its own standalone computer. You plug your patient’s MedKaz into it, not into your EMR system. This protects the security of both your EMR system and your patient’s MedKaz. The cost of such a system is less than $1,000 per exam room, but that’s only half the equation. The other half is the substantial new revenue providers earn when they use their patient’s MedKaz.
When clinicians are registered MedKaz Providers (registering is free), they are paid two fees for every encounter they have with a patient who owns a MedKaz. One is for using their patient’s MedKaz during their visits. The other is for uploading their progress notes and other documents to our MedKaz Server that they created or used during the visit (this can be fully automated). These fees dwarf the investment in the standalone computers and generate an extraordinary ROI.
Here’s The Proof – Use Our Value Calculator
Rather than simply taking our word for how profitable MedKaz is for providers, you can model your practice, clinic, or hospital and prove it to yourself.
Our Value Calculator makes that easy. Here’s the link: https://portal.medkaz.com/csp/medkaz/ValueCalcExternal.csp To model your practice, replace the sample data in the Value Calculator with your unique data, then click “Calculate” to see your estimated new revenue, investment and ROI. It will be similarly extraordinary.
- Small Practices. For a small practice enter your relevant data in the column on the left, eg., the number of patients you and other clinicians see in a day, the number of days each works per year, your number of exam rooms, what you expect to pay for a computer, the percentage of your patients owning a MedKaz, etc. (The sample 3-provider practice modeled here requires a one-time investment of only $1,500 in new computers and generates almost $20,000 per year in new revenue, for an extraordinary ROI of 13.2X the investment!)
- Larger Organizations. For a larger organization where you know the number of outpatient and inpatient visits and tests performed annually, use the column on the right. (This sample larger-organization will return almost $1,000,000 annually in new revenue on a one-time investment of $50,000, for an extraordinary ROI of 19.5X!)
Since it will take time to get all your patients using MedKaz, you might calculate your return at various MedKaz adoption rates, such as 10%, 50%, 80%. When you do, you’ll realize the obvious: The more patients who have a MedKaz, the greater your profits! So, it’s in your self-interest to get more patients using MedKaz faster! It’s also in their interest. The sooner they have their MedKaz the sooner they’ll enjoy better care and save money!
There’s Much, Much More!
While these results are critically important to individual practices, MedKaz is even more important to the economy as a whole. As we’ve explained in other articles, like in “How MedKaz Helps Your Doctors,” https://medkaz.com/helps-your-doctors/, it’s use can greatly improve outcomes and reduce the cost of healthcare by tens of billions of dollars annually.
In short, MedKaz aligns everyone’s interests in two common objectives: better care, lower costs! It does so the easy, low cost way — without elaborate networks, costly registries, or extensive administrative organizations.
Need we say more? Calculate your cash benefits, register as a MedKaz provider so you are entitled to receive them, and urge your patients — especially seniors and those with serious, complex issues — to get their MedKaz ASAP! They’ll love it and so will you!
To refresh your understanding of how MedKaz helps you deliver better, coordinated, lower-cost care, read our blog: Care Providers and MedKaz® https://medkaz.com/care-providers-and-medkaz-2/ Then contact us at https://medkaz.com/contact-us/ to help you get rolling. We can’t wait to hear from you!