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Electronic medical records, or EMRs, provide physicians with a computerized improvement over paper charts. However, EMRs offer far more than a new way to chart. E&M coding advice, electronic prescribing and formulary, bi-directional laboratory integration and pay-for-performance tracking are a few of the features found in an EMR. Still, one thing is clear: while most every practice understands that they need to move toward an EMR and "go paperless," few have a well-defined idea of what a full-featured EMR can do and how it can benefit them beyond "going paperless."

There are over 300 electronic medical record and electronic health record programs. It can be difficult to navigate the market as some are designed specifically for certain specialties and sizes of clinics. Take for example an OB/GYN EMR with ACOG forms and reports, or a cardiology EMR program with integration to an electrocardiogram. Electronic medical records can be purchased with medical billing software or medical practice management software for a fully-integrated suite, and deployed over the web as a web-based EMR software system.

It's also important to understand the available federal programs for "subsidizing" an EMR purchase. Take for example, the subsidies outlined in the Health Information Technology for Economic and Clinical Health (HITECH) Act, part of the Stimulus Bill recently signed by congress. Healthcare providers that qualify as “meaningful users” of EHR systems will be eligible to receive $40,000 - $60,000 in incentive payments paid out over five years in the form of Medicare and Medicaid premiums.

Or consider healthcare Pay-for-Performance (P4P) programs. P4P programs offer performance-based bonuses to physicians that can use an EMR to improve quality of care. To participate, physicians need to track and measure care, monitor efficiency of delivering quality care at the best cost and document the patients’ experiences using post-exam surveys. Note, some programs require physicians to use a CCHIT certified EMR.