Is it cost-effective to use the EDITS Data program?
Unequivocally yes. If a coder/data entry individual is paid $24 per hour (including benefits) and can completely process 20 charts per hour (data and charge capture and coding), the cost per chart, after paying for the initial hardware costs, is $1.20 per record plus the licensing fees of $0.35 for EDITS Data, $0.60 for EDITS Scan and $0.25 for EDITS Chart. Given that average lost charges from 14 audits were $25 per chart, net revenues resulting from improved charge capture, assuming a 40% payment rate, would be $10 per chart. These savings don’t include any of those achieved by not having multiple individuals perform charge capture and coding. If the hospital and the physicians have one person do their combined coding when they formerly had two, this is conservatively worth $0.60 per chart assuming a coding rate of 40 charts per hour and the same wage scale as mentioned above.
