Return on Investment with LiveScribe

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LiveScribe, powered by ScribeMobile, is Scribe’s newest solution that can help providers see improvements in productivity, profitability, and patient care.  LiveScribe connects to Scribe’s available queue of virtual medical scribes during a patient exam, allowing for real-time capture of the patient encounter.

Before any provider adopts a new technology, they will need to evaluate the return on their investment (ROI).  Here are some considerations for that evaluation:

Best Use of a Practice’s Most Expensive Resource

In the United States, the mean salary of a doctor is $313,000 according to a recent Medscape Report. (1) Compare that to a medical scribe’s salary that is typically less than $30,000 per year. (2)  Clearly, a physician’s time should be focused on patient care and their medical knowledge.

When using LiveScribe, the provider can focus on the patient during the exam, and after the exam, the provider does not have to complete the patient encounter in the EMR and can move on to another patient that much sooner.

What metrics can a practice use to measure the ROI from using LiveScribe?

Cost of LiveScribe vs:

  • Lower labor costs in reprocessing bills
  • Lower (or elimination) transcription costs
  • Lower payroll expense due to fewer hours/elimination of overtime
  • Unpredictability of scribe staffing and availability
  • Reduced medical assistant time
  • Increased quality of documentation
  • Higher revenue due to increased number of patients

These benefits will vary from one practice to another; Scribe’s six sigma black belt certified workflow engineers will work with practices to walk them through the evaluation.

And what about the non-measurable benefits of using LiveScribe?
  • Provider satisfaction: This is always highest when they can do what their training taught them – patient care.   Along with the increased focus on the patients, a provider’s time is again their own – not spending time after-hours to complete all the documentation requirements.
  • Staff Satisfaction: Other staff, such as transcriptionists and medical assistants are less likely to work overtime and benefit from the general improvement seen by the providers having less stress.
  • Patient Satisfaction: Every patient in any exam wants to be the center of attention from the provider, knowing that their words are heard and understood. When the provider is not concerned about the computer and data entry, the patient will receive far more of the provider’s attention. When the provider uses LiveScribe to order diagnostic tests, prescriptions, the patient can to leave the appointment without waiting for the support staff to take on those tasks.

Is your practice ready to improve productivity, profitability, and patient care?

Learn if LiveScribe is right for your practice.