E-Prescription mandates: How to comply without hurting your bottom line

In January 2022, many states passed legislation required e-prescribing for controlled substances.

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

As thousands of physicians begin to undergo the search process for an e-prescribing solution, there are likely to be barriers to implementation – a big one being cost. Physicians already pay an average of over $10,000 in monthly maintenance costs for their practices[1][2]. On top of that they’ll now have to pay an average of $42,332 for implementation and $1,227 monthly for an e-prescribing solution[3].

Practices that already e-prescribe likely have seen the cost savings it brings, not only due to reduced visits but largely because of efficiency. While it may take longer to enter a prescription into a practice’s EHR or separate e-prescribing software, there less time spent calling pharmacies to clarify what is prescribed, refill requests and more. Not only does e-prescribing save time for physicians, but it leads to improved patient care now that physicians can get patients their prescriptions quickly and seamlessly.

With many e-prescription solutions on the market, it’s imperative to select one that fits a practice’s current and future needs. This means it should be a fit with an office’s EHR software – allowing doctors and their staff to pull pre-recorded patient information and then send medication to a pharmacy within seconds, as well as save prescription data to patient charts. The solution must also have a straightforward pricing structure, as many existing solutions have numerous hidden fees and extra fees for controlled substances. Physicians have already invested money, time and resources into getting their medical degrees and starting their practices, and with the looming deadline, should look for an e-prescribing solution that is both cost effective and comprehensive.

As e-prescriptions become required across the country, EHR platforms are capitalizing on the opportunity to tack on extra fees for this ability. Myriad Health, the first-ever truly free EHR and billing software, provides unlimited e-prescriptions for no extra cost. This includes controlled substance prescribing in all states, renewals, patient eligibility, formulary and medication history. Practitioners can also view estimated out-of-pocket costs for a prescription, medication alternatives, pharmacy dispensing channels and coverage details, all within the practice management software.

About the Author

Jeremy Shiner – Founder & President, Meta Technologies

Jeremy Shiner is an expert in healthcare revenue cycle and practice management, and with his team has helped thousands of medical practices improve office efficiencies and reduce accounts receivable balances. As the founder and president of Meta Technologies, he is committed to empowering and preserving private practices with Myriad Health, the first-ever truly free EHR and billing software, and MediPay Compliance Consultants, the only payment processing company that is exclusively dedicated to healthcare.

[1] Palmer W. What is the cost of starting 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-practic

[2] Green J. How much EHR costs and how to set your budget. EHR 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 the Ambulatory Care Setting. 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.