Posted By Arnav Mathur On March 30, 2022
The EHR Total Cost of Ownership (TCO) is a significant factor to think about when looking for a new EHR. You need to know how much money you’ll pay for your solution. Are you tired of vendors who are are not upfront about the costs you may pay over the life of your contract?
We’ve broken down why not having the Total Cost of Ownership upfront leaves room for unwelcome surprises, and how you can find a vendor you can trust.
What is Total Cost of Ownership?
An EHR Total Cost of Ownership is a quote for the total amount you will be paying throughout the contract with your software provider, including the technology and services. It includes the initial software, implementation costs, annual maintenance, possible upgrade fees, and support costs. These costs are what you will pay to put in place, operate, maintain, and support your new EHR system.
The EHR Total Cost of Ownership takes the following costs into account:
- Long-term costs
- Short-term costs
- Direct costs
- Indirect costs
What varies in EHR Total Cost of Ownership quotes?
The EHR Total Cost of Ownership will vary by license fees. The price range quoted is based upon your organization’s size, number of patients, number of claims, number of staff, etc. EHR modules may also have separate fees, or they may be included in the total cost as part of your base solution. All of these will be clearly outlined in your TCO quote.
Why is not having an EHR Total Cost of Ownership bad?
Have you ever been victim to hidden costs, surprise fees, and “nickel and diming”? If a vendor is not providing your EHR Total Cost of Ownership upfront, you may end up paying some hidden fees for things such as:
- Implementation help
- Training your staff
- Workflow redesign
- 3rd party software
A vendor who is trustworthy will provide the TCO so that you are not left with surprises that put you out of budget. Customer-focused EHR vendors understand the need for excellent customer service and fiscal “bookends.” Make sure any vendors you are considering will ensure their EHR solution price and include things like unlimited support, unlimited report assistance, and no additional transaction fees.
About Patagonia Health, Inc.
Patagonia Health is a living Electronic Health Record (EHR) software designed to meet the complex needs and desired health outcomes of Public Health and Behavioral Health organizations. Our federally certified, easy-to-learn platform includes integrated practice management and billing software so you get one end-to-end solution. Employee-owned and organically grown, our mission is to support your business with software and service that allows you to provide your patients with the care they deserve. If you’d like more information about our solutions, contact us today.