Return on investment Calculator

Number of providers:

Paper chart cost:

Total patients per clinic per provider:

Paper chart storage/destruction cost:

New patients per clinic per provider:

Paper chart overhead per visit:

Days of clinic per week per provider:

Average collection per patient:

Number of office locations:

Increased productivity percentage:

Missed charges percentage:

Initial cost of installation:

Monthly cost per physician:

Per Visit cost for practice:

ROI per physician first year:

Initial cost per physician:

ROI for practice first year:

Monthly cost per physician:

ROI percentage first year:

Average cost per clinic:

ROI per provider subsequent years:

Average cost per patient visit:

ROI for practice subsequent years:

Average cost per patient:

ROI percentage subsequent years:

Your CURRENT paper charting cost per clinic:

Your CURRENT paper charting monthly cost per physician:

Results are subject to change. Results presented, while based on actual experience, are for demonstration purposes only. Your actual results may vary. ZipChart reserves the right to change values that may affect the results of these ROI calculations.

The number of physicians in the practice plus the number of physician extenders, such as PA's or Nurse Practitioners who see patients by themselves.

You do not need to include PA's or Nurse Practitioners who always see patients wih a physician.

The number of total patients an average provider sees in a full clinic day.

The number of NEW patients an average provider sees in a full clinic day.

The number of full clinic days an average provider has in a typical week.

The number of office locations for a practice.

The cost of one empty manila chart with all the tabs, dividers and stickers.

The nationwide average for this is approximately $2.00.

The labor and other overhead involved with the paper chart handling for one office visit.

This includes the labor of pulling the chart, the cost of printing a face sheet (checkout sheet), the cost of inserting a face sheet into every chart prior to the visit, the cost of copying and attaching the face sheet after the clinic visit, re-filing the chart after the visit, pulling the chart and attaching the transcription note for the visit after the dictation has been transcribed and then re-filing it, and the cost of filing other paperwork that may come in between visits (such as faxes).

A good estimated average for this is $2.00

This is the average amount collected (not billed) per patient seen in clinic including copays.

This number should include the office visit charge and any other charges such as procedures and materials charged for in the office.

Because ZipChart® uses a task list system to improve efficiency and workflow in the office, providers can see an increased number of patients in the same time period when compared to a paper system

On average, this increase is about 15% more patients seen.

If you are skeptical and do not want to include this factor in the ROI calculation, select zero.

In a paper chart system with a paper face sheet (chart sheet), the average provider will lose about 3% of office visit charges primarily from two factors.

One is that the physician simply forgets to circle a charge for a task performed in the office

Two is when a patient walks out of the office without turning the sheet in at the front desk. Some providers may feel they do not lose any charges because a billing person may audit all transactions to make sure all charges were billed, but the cost of labor for performing these checks should be considered.

With ZipChart®, all charge capture is passive, and the face sheet is electronic and automatically generated, so 100% of office charges are captured.

This is the increase in net profit seen by one provider during the first year after installation of the ZipChart® system. This is calculated by adding cost savings of having a paperless chart to the increased revenue from capturing all charges and the additional increased revenue resulting from being able to see more patients. The cost of the ZipChart® system is then subtracted from the cost savings for a true net result.

The cost savings of having a paperless chart is calculated by taking the number of new patients seen by the provider during the a year times the total cost of having a paper chart per patient. The cost of having a paper chart per patient is calculated as Paper chart cost + Paper chart storage/destruction cost + Average number of clinic visits per patient times Paper overhead per visit. The increase in revenue is calculated by taking the total number of patients seen per provider in a year times the Average collection per patient times Missed charges percentage.

The cost of the ZipChart® system (Initial cost per provider + (Monthly cost per provider times 12 months)) is subtracted so the return on investment per provider is a true net profit number.

This is the Return on investment per provider in the first year times the total number of providers in the practice.

This is the Return on investment per provider in the first year divided by the total cost of the ZipChart® system (Initial cost per physician + (Monthly cost per physician times 12 months)) X 100%.

This is calculated the same way as the Return on investment per provider in the first year except that the cost of the ZipChart® system which is subtracted is now considerably smaller because it only represents the Monthly cost per physician times 12 months.

This is the Return on investment per provider in subsequent years times the total number of providers in the practice.

This is the Return on investment per provider subsequent years divided by the cost of the ZipChart® system (Monthly cost per provider times 12 months) X 100%.

This is the initial charge per provider for purchase of the system.

This cost includes a TabletPC computer for each provider, the server hardware and software, ZipChart® software license for each provider, on-site installation and training, wireless network installation at each office location, and a two high speed document digitizers and one card scanner at each location.

This is the monthly charge per provider for use of the system.

It includes server maintenance, nightly offsite backup, monthly ZipChart® software license, software maintenance upgrades, and 1/2 hour of tech support per provider per month.

This is the average cost of the ZipChart® system per full day of clinic.

It is calculated by taking the Monthly cost per provider and dividing by the number of days in clinic per month (Days of clinic per week per provider times 4 weeks per month).

This is the average cost of the ZipChart® system on a per patient visit basis.

It is calculated by taking the Average cost per clinic (above) divided by Total patients per clinic per provider.

This is the average cost of the ZipChart® system for each individual patient in the practice including all office visits.

It is calculated by taking the Average cost per clinic and dividing by the New patients per clinic per provider.

The cost per clinic is multiplied by the number of days per week in clinic which is then multiplied by 4 weeks.

The number of new patients seen in clinic multiplied by the cost of a chart (paper chart cost + paper chart storage and descruction cost) for each patient.

Then the number of patients total seen per clinic is multiplied by the the paper chart overhead per visit and the two numbers are added.