Developing a custom EHR system is the smartest move to increase efficiency in the workflows. Nevertheless, it is important to understand the cost to custom EHR development, along with expected ROI.
So, keep on reading and in the forthcoming content we will discuss how much cost is needed to build a custom system, and whether it truly deserves the investment or not.
Difference Between a Custom EHR and Ready-made EHR
A custom EHR basically is a software designed specially for a particular organization. The same is why it allows you to choose features, design, and workflows. On the other hand, the ready-made EHRs are pre-built systems that come with a fixed set of features.
Hence, you can not make any changes. In addition, these EHRs might require you to bear extra charges and yearly renewal fees.
Core Factors That Shape the Expense of Custom EHRs
The total expense of your EHR project depends on multiple factors, such as:
- How many qualified developers are involved?
- The expertise level of your developers and technicians.
- Regulation of updates, bug fixes and server costs can accumulate over time.
- Connecting your system to other software such as billing and scheduling can add the cost.
- The complexity level of your system.
- Meeting healthcare standards might require you to pay a fee and extra charges.
Calculating ROI of a Custom EHR
Although the final cost depends upon the above-mentioned factors, typical price ranges from:
- $30,000 to $60,000 for the development of a basic system.
- $70,000 to $150,000 for a mid-sized EHR.
- $200,000 and above for a very highly customized and integrated system.
To determine your return on investment, balance the initial project cost against the savings and efficiency achieved over time.
Here’s what to consider:
- Cost saved from reduced manual work
- Increased patient retention through better service
- Fewer compliance fines or errors
- Lower maintenance compared to off-the-shelf software
Example:
If a clinic invests $80,000 and saves $20,000 each year in operational costs, it recovers the investment in four years — and profits afterward.
Benefits That Impact ROI (Return on Investment)
A well-built custom EHR doesn’t just save time — it helps your organization earn more in the long run.
- Improved Efficiency: A tailored EHR reduces the paperwork and chances of potential errors.
- Reduced Licensing cost: As you are using your own system, you don’t have to pay any renewal fees or monthly subscription fees.
- Easy Customization: You can add or remove features at any point of time, depending upon the changing needs.
- Enhanced Security: As all of the data is not getting stored in a cloud server or third-party app, it remains secured within your instructional territory.
Conclusion
Although custom EHR development is a smart decision, remaining well-informed about its costing is necessary. The same is why, we have formed the guide above, discussing an expected price range, factors that influence pricing and ROI to expect from it.
