How Much Does an ePrescribing Platform Cost?
September 20, 2023
As with any software as a service solution (SaaS), understanding the costs associated with implementing an ePrescribing platform is crucial for healthcare providers and organizations. As you read further, we’ll delve into the various factors that contribute to the cost of an ePrescribing platform and provide some ballpark pricing estimates you may encounter when exploring your options.
First and foremost, it is crucial to understand that there is no standard pricing structure. Each vendor prices their solutions differently. For instance, Provider A might charge separately for each prescribing feature but has a low initial cost of entry. At the same time, Provider B might package its prescribing features together with a higher starting rate. Every vendor is unique, and prices will differ significantly.
Implementation and Integration
The implementation process involves setting up the software, integrating it with existing systems, and configuring it to meet each healthcare organization’s specific needs. This can incur costs for software customization, data migration, system integration, and development hours.
Most cloud-based solutions will have an implementation fee. This fee is typically either a flat rate that covers the entire implementation project or a variable rate charged based on the time and resources used. Depending on the vendor, this cost will vary drastically, ranging from a few thousand dollars to more than $10,000.
Software Development and User Licensing
Cloud-based solutions often require monthly or annual fees based on the number of users signing into the system. A licensing fee is typically charged on a monthly minimum or on an annual basis. Some vendors set this price to include a certain number of prescribers, and beyond that set amount, adding prescribers will be at an additional discounted rate. It’s important to accurately estimate the number of healthcare providers who will be using the platform each month. Don’t forget to plan for growth.
Our research shows ranges from $500-$799/year per prescriber to $500-$1,200/month and includes 10+ prescribers.
This example is based on real market data:
Other user license types may include non-prescribing admins or prescribing agents. Prescribing agents who cannot send prescriptions, like nurses, are typically billed at a lower rate.
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Compliance and Security
Healthcare regulations and standards, such as the Health Insurance Portability and Accountability Act (HIPAA), dictate the United States’ stringent data security and patient privacy requirements. Developing and maintaining an ePrescribing platform that complies with these regulations involves additional costs for security measures, regular audits, and potential legal fees in case of non-compliance. Utilizing an ePrescribing vendor takes the burden of compliance off your plate and is one of the key advantages of buying a proven solution – read more in the Build vs. Buy blog.
Additional Features, Products, and APIS
Most ePrescribing platforms offer additional features beyond the basic prescription transmission functionality. These could include checking for drug-drug and drug-allergy interactions, formulary management, access to medication history, Real-Time Prescription Benefit, and electronic prior authorization. While these features can greatly enhance patient care, they might come with an extra cost, depending on the vendor.
Many ePrescribing providers offer their APIs in an a ‘la carte style. Through this, you are given their standard set of APIs, with additional ones requiring a plan upgrade. In comparison, DoseSpot democratizes its APIs, offering an open API guide with all endpoints for your integration type at no additional cost.
Electronic prescription of controlled substances (EPCS) is a feature that holds an additional charge across the board. Depending on the vendor, this cost may be applied as a yearly fee or in addition to the monthly payment.
On average, the yearly cost per prescriber for EPCS falls between $75-$135.
DEA audits must be completed every two years by an approved organization. An initial certification fee is required before the first audit. On average, these services cost approximately $2,000. The cost shouldn’t vary significantly between vendors.
IDP and TFA
When utilizing EPCS, prescribers will be required to use Identity Proofing (IDP) and Two-Factor Authentication (TFA). The fee for this service is per prescriber and is usually charged as a one-time fee. However, some vendors will apply this as a recurring annual fee.
Because of this, the price range will vary by vendor, with the low end being a $5 one-time cost to the high end of $75 per year.
In the digital era, ePrescribing platforms have revolutionized the healthcare industry by streamlining the prescription process, reducing errors, and positively influencing patient outcomes. By understanding the full spectrum of costs involved, stakeholders can make informed decisions that align with their budget and healthcare business goals.
Are you interested in learning more about DoseSpot pricing? Contact our sales team for a customized pricing consultation to find the DoseSpot solution that is right for you.