How Much Does Epic Cost?

Medical practices are often curious about Epic EHR integration cost. How much epic costs is a major concern for small, independent clinics, especially. The cost is a significant barrier in implementing or integrating EHR systems. And if healthcare organizations are keen on opting for the best in the market, i.e., Epic Systems, then it’s crucial to know the overall cost. Some reports have highlighted that Epic EMR costs around $1200 to $500,000. However, multiple factors impact the cost of Epic EMR.   

This article will give some insights into the cost of Epic EHR. So, let’s look into the different aspects that determine or affect the Epic software cost.   

An Overview of Epic EMR Cost

Whether it’s a small practice or a large hospital with multiple branches across the US, the cost of Epic EMR depends on different parameters. That means, the small practice or independent clinic will have different requirements, limited medical records and services offerings compared to a large hospital. A large hospital is more likely to offer a wide spectrum of services and will also have more patients. So, the EHR software needs to cater to these aspects.   

The cost of Epic, thus, changes as per the requirements of the practices. Epic EMR costs around $1200 for a small practice excluding the training charges. And for a large hospital, Epic EHR costs can average up to $50,000.   

Is Epic Expensive? 

Medical records storage solutions have always allowed providers to boost patient experience and make their job easier. Like practice management solutions, EHR or EMR systems simplify workflows, improve data interchange and promote interoperability. And Epic EHR/EMR is the most widely recognized software solution. According to a recent report, nearly 45% of American population’s medical records is stored in Epic EMR system.   

Despite such many users, adopting Epic still makes multiple providers skeptical. Providers struggle with the high cost of implementing EHR in hospital, especially Epic. But why is Epic so expensive?  

Well, there are a couple of reasons or factors affecting the cost of Epic. And these factors are- 

1. Complexity of the software 

Epic EHR isn’t a highly complex software to use. But providers have often reported facing difficulty in navigating it. The user experience of Epic is the reason behind this lag. To help providers seamlessly use the software, Epic offers training and a support team. And this holds an extra charge, which ultimately adds up to the overall cost of Epic. Epic EMR enables providers to seamlessly share data and access patient medical records despite these extra charges. Moreover, patients can also get their medical history whenever they consult a specialist or see other doctors.     

2. Features  

Epic EMR with a higher level of customization means a higher price. Take, for example, specific templates or patient charts. Besides, integrating additional services such as pharmacy, lab, and immunization registries with Epic EMR will also increase the cost of Epic. Further, the administrative features heavily impact the Epic EMR cost. A higher level of these administrative features means higher Epic EHR pricing. Apart from this, the support for the mobile solution, EpicCare, is also likely to increase Epic EMR pricing. In short, adding advanced versions of existing or new features will drastically increase Epic pricing by thousands of dollars. The best you can do is choose the features you need wisely to keep the cost of Epic in control. 

3. Size of the solution 

The size of the solution also has an impact on the Epic software cost. As previously said, smaller facilities only pay around $1,200, while large hospitals have to pay around $500,000. With such a wide spectrum of rates, it should go without saying that there is plenty of room for negotiation. And the charges for your practice will most likely fall somewhere in the center. Well, this also depends on the size of your facility. Moreover, the increased Epic EHR pricing for larger institutions makes sense, considering that the system will need to access more people and keep information on more patients. 

Pricing Models of Epic EHR

Epic EMR/EHR software is designed for medical organizations, and system charting contains patient history, referrals, and medical data to ensure that patients receive satisfactory care. In addition, the database system includes analytics and reporting capabilities. Small clinics, in general, only require some of these complex features, which is why Epic has designed several pricing models to ensure that medical organizations only pay for what they utilize. However, the biggest truth is that Epic pricing completely depends on the features you choose and the average number of patients your facility deals with.   

Here are Epic EHR pricing models:    

• The starting price of self-hosted Epic solutions is $1200  
• The starting price of Epic software for hospitals and large clinics is $500,000  
• Epic EMR pricing per month is $200 to $35,000  
• The average cost of Epic software training is $2000 

Cost Parameters of Epic  

1. Epic Type of Support & Maintenance Cost  

Ongoing software maintenance and support of Epic EHR is quite expensive, especially if the product requires frequent upgrades or has a high rate of defects or faults. Besides, depending on the complexity of the software and the level of assistance required, the average maintenance cost can range from a few hundred dollars to several thousand dollars each year. According to some vendors, the cost of Epic EHR training could go as high as $2,000. On the other hand, some vendors don’t charge for training. 

2. Custom Epic Development Cost  

The cost of custom Epic development depends on the features and integrations you opt for. Customizing Epic software to match the organization’s specific demands can be expensive, especially if major development or integration work is required. That’s why the average cost of customization can range from a few thousand to several hundred thousand dollars.  

3. Epic Migration Cost  

Data migration from old legacy systems to Epic EHR software is a time-consuming and expensive procedure. This cost can further go up if the data is small or simple. That’s why the cost of Epic migration depends on the amount and complexity of the data. And the average cost can range from a few thousand to several hundred thousand dollars.   

4. Cost of implementing Epic in a large hospital  

As mentioned above, Epic’s implementation cost in a large hospital is around $500,000. It can increase further if advanced features and upgrades are included occasionally. However, Epic’s minimum EMR system cost for large hospitals isn’t more than $35,000 per month.   

5. Cost of implementing Epic in a small clinic  

Epic EHR cost for small practice is around $1200, as stated above. Small practices typically have limited requirements. It’s best to set a reasonable Epic EHR budget if providers are keen on adopting Epic.   

6. How much is Epic’s unlimited cost

Epic EMR costs vary depending on the size and needs of the healthcare company. Implementation and support fees can range from $60,000 to $1 million, with continuous maintenance and upgrades increasing the overall cost.  

Government Incentives and Funding That Can Aid in Epic EHR’s Adoption

As we’ve already mentioned, the development of Epic software systems is expensive. Even integration is costly, whether with telehealth solutions or remote patient monitoring systems. That’s why healthcare organizations choose healthcare funding and government incentives for implementing and integrating Epic software.   

Regarding funding, the Federal government is open to offering support for EHR adoption by providing grants and incentives. Typically, the only criterion for medical organizations to get these grants and incentives is to demonstrate the promotion of interoperability. And some of these grants are-   

1. Medicare & Medicaid Promoting Interoperability Programs  

These programs compensate qualifying hospitals and professionals. And the qualifying hospitals and health professionals must use ONC-certified HER technology, keep at least a 90-day reporting period, and demonstrate electronic clinical quality indicators. Attaining these aspects will provide them with Medicare and Medicaid incentives.   

2. SAMHSA CCBHC  

SAMHSA provides these expansion grants to community-based healthcare providers to install new EHR and EMR technologies. To be eligible for the funds, the HIT (health information technology) department must offer information on how the CCBHC will enable electronic health information interchange, which will improve care transitions.  

3. MACRA Expansion Grants  

This expansion grant is usually called MACRA and features two tracks: a merit-based incentive payment system and an advanced alternative payment model. The merit-based program allows qualifying medical service providers to get payment adjustments if they submit their paperwork before the deadline. In contrast, the second program allows them to receive 5% of the incentive payment.  

Why should you invest in Epic EHR?

Despite the staggering cost of Epic integration, Epic as a service offers superior support options, which other EHR software solutions are less likely to provide. And that won’t leave you concerned or clueless about your workflows or medical records. Here are some of the top reasons you invest in Epic despite its being expensive. 

1. Features and integrations 

As mentioned, Epic can offer high-level features and integrate them into your existing systems. These features can improve operations, boost patient engagement, etc. Epic will be a great fit for your varying needs and preferences if you have a good EHR budget.  

2. Security  

Epic design and architectural principles are HIPAA compliant across all core HIPAA tenants of administrative and technical safeguards. That’s why irrespective of Epic’s cost; providers can invest in Epic to ensure full security of the PHI.   

3. Cloud-based Epic Platform   

The most significant advantage is that this cloud-based Epic EHR platform promotes interoperability and data interchange, allowing systems to share health information to ensure that critical data is always in the hands of those needing it the most. If your practice’s priority is to ensure interoperability, then Epic would be a good fit.

Final Thoughts 

Epic EMR is critical software that includes everything a healthcare provider needs to organize patient data and perform efficient services. However, it is not inexpensive owing to multiple factors such as features, the size of the facility, the number of patients in a facility, who will have access to the system, the number of records, and so on. All these aspects add up to determine the actual cost of Epic. In short, Epic’s cost is subjective and tentative, considering all the information we have. 

References 

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