With the nation still facing economic hardships, banks are very reluctant to provide loans. This is unfortunate for our President Obama who has shared his healthcare plan for 2009 — placing billions of dollars in Health IT. Physicians and the rest of the medical community now face the challenge of finding an inexpensive Electronic Health Record (EHR) system that can be customized to fit the practice’s needs.

Although banks are not currently distributing loans, physicians can seek alternative methods and essentially ‘get the biggest bang for your buck.’ The main alternative to bank loans is to work with a financing company. Financing companies are more than willing to finance equipment/services based on your credit score. More importantly, certain financing companies will work with your medical practice to finance EHR systems, EHR and Practice Management Systems, and EHR Training and Support. This should appease physician’s concerns, knowing that they do not have to settle for an EHR that is not suited for their practices due to cost.

You should begin researching the Electronic Health Record Industry now that you know there are alternatives to purchasing a system. Determine if you want an EHR that is focused on your specialty or one that offers multiple specialties. Determine if you are interested in receiving financial incentives from the government. Schedule EHR demonstrations! If you have any questions that you are unsure about, seek the advice of a professional. There are several free services that you can take advantage of, such as EMRConsultant.

There is no reason to wait any longer to purchase an EHR because of your financial situation. There are several different financing companies that want to help. Bank loans are not the only method to use.

To learn more about financing your EHR, your EHR and Practice Management System and your EHR Training and Support, please click here.

Financing Companies Include:
Mantis Financial

To learn the difference between financing and leasing, please visit leasing.