The Total Economic Impact™ Of Experity
Cost Savings And Business Benefits Enabled By Experity
A FORRESTER TOTAL ECONOMIC IMPACT STUDY COMMISSIONED BY EXPERITY, FEBRUARY 2025
Urgent care clinics seek comprehensive software and services that optimize operations in order to increase patient throughput, improve coding accuracy, save employee time, and enhance the patient experience. As a scalable solution that integrates across all clinic sites, Experity allows clinics to achieve these results with a solution specifically designed for urgent care. This in turn enables clinics to meet key goals, such as improving efficiency and generating more revenue.
Experity offers comprehensive software and services to help optimize urgent care operations. It includes Electronic Medical Records (EMR), Practice Management (PM), and Patient Engagement (PE) systems, along with business intelligence, teleradiology, Revenue Cycle Management (RCM), payment solutions, and consulting services.
Experity commissioned Forrester Consulting to conduct a Total Economic Impact™ (TEI) study and examine the potential return on investment (ROI) enterprises may realize by deploying Experity.1 The purpose of this study is to provide readers with a framework to evaluate the potential financial impact of Experity on their organizations.
To better understand the benefits, costs, and risks associated with this investment, Forrester interviewed five decision-makers across four organizations with experience using Experity. For the purposes of this study, Forrester aggregated the interviewees’ experiences and combined the results into a single composite organization that operates two urgent care clinics and uses Experity EMR, PM, PE, business intelligence, and teleradiology.
Return on investment (ROI)
288%
Net present value (NPV)
$962K
Interviewees said that prior to using Experity, their organizations used a legacy EMR software that lacked the features necessary to ensure high patient throughput, accurate coding, and efficient employee processes. These limitations hindered attempts to optimize operations and ultimately inhibited growth.
After the investment in Experity, interviewees’ organizations saw improved efficiency, increased patient volume, and increased revenue. Key results from the investment include revenue uplift due to higher patient volume and more accurate coding, a reduction in bad debt, productivity gains for providers and support staff, and improved customer experience.
Key Findings
Quantified benefits. Three-year, risk-adjusted present value (PV) quantified benefits for the composite organization include:
- Revenue due to higher patient volume, which increased by 15%. Experity allows providers at the composite organization to see more patients each hour due to streamlined charting and coding, access to information and workflows in one place with templates built for urgent care, and differential diagnosis functionality. At the composite, this improved throughput increases the average number of patients a provider sees per hour from 3 to 3.45 and results in a revenue uplift of $627,000 over three years.
- Revenue from more accurate coding, resulting in a 10% uplift on average. Experity’s robust coding engine results in a more automated process that efficiently and effectively captures the services rendered by providers at the composite organization. This improved accuracy on average leads to a $12 increase in the revenue per patient encounter at the composite organization, which is worth $437,000 over three years.
- A reduction in bad debt by 25%. After adopting Experity, the composite organization sees a reduction in its bad debt given the software’s insurance verification, financial text reminders, credit-card-on-file option, and features that reduce employee mistakes. Additionally, the composite uses Experity business intelligence to better understand metrics related to its bad debt. This benefit is worth $60,000 for the composite organization over three years.
- Cost savings from improved provider efficiency, eliminating 1 hour of after-hours work for each provider daily. In addition to enabling providers to see more patients during operating hours, the efficiency-enhancing features in Experity allow providers at the composite organization to eliminate after-hours work. In particular, charting in Experity, which has autopopulation capabilities and is designed for urgent care, saves significant time and results in providers completing their work during the course of the day. One hour of after-hours work is eliminated per provider daily, which is worth $93,000 for the composite organization over three years.
- Cost savings from improved front desk efficiency, saving staff 1.5 hours per day. Front desk staff members at the composite organization see time savings due to Experity centralizing patient documentation, enabling efficient workflows and increasing ease of use. Moreover, the software has features tailored for urgent care, such as dynamic queuing, templates, eRegistration, and insurance verification, which further drive front desk efficiency. Daily front desk time savings equates to $42,000 for the composite organization over three years.
- Cost savings from decommissioned legacy solutions. Experity provides the comprehensive software capabilities required to manage urgent care clinics, allowing the composite organization to decommission its legacy solutions. In addition to EMR and PM solutions, Experity offers PE, business intelligence, teleradiology, RCM, payment solutions, and consulting services. This allows the composite to pick and choose the needed mix of solutions while seeing operational efficiencies by sourcing from a single provider. Retiring legacy systems translates into $37,000 for the composite organization over three years.
Unquantified benefits. Benefits that provide value for the composite organization but are not quantified for this study include:
- Improved patient experience. Experity features like online registration, dynamic queuing, and SMS notifications improve patient communication and reduce wait times at the composite organization. Moreover, patient surveys sent through Experity provide valuable feedback, improve online reviews, and drive repeat business.
- Improved employee experience. For providers and other employees at the composite, Experity is easy to use and makes their workday less cumbersome.
- Ability to use RCM. The composite has the option to add RCM services to their Experity implementation, which can improve key metrics, such as days in accounts receivable (AR), and lead to better cash flow.
- Flexibility to add teleradiology and consulting services. With Experity, trusted and readily available teleradiology can be added by the composite as needed. Moreover, consulting services can be utilized for future business decisions, such as opening an additional clinic.
Costs. Three-year, risk-adjusted PV costs for the composite organization include:
- Implementation and software fees. The composite organization pays Experity for costs related to the implementation and use of the software. These costs vary based on factors like the scope of the implementation and the specific Experity solutions used. The composite organization pays $10,000 for implementation services and $80,000 per year in software fees.
- Employee time dedicated to implementation and training. Some employees at the composite organization assist with implementing Experity. Additionally, Experity users spend time training on and learning the software. These are not out-of-pocket costs directed toward Experity but instead represent the labor costs of in-house employees; they total $73,000 over three years for the composite organization.
The representative interviews and financial analysis found that a composite organization experiences benefits of $1.30 million over three years versus costs of $334,000, adding up to a net present value (NPV) of $962,000 and an ROI of 288%.
Key Statistics
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Return on investment (ROI)
288%
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Benefits PV
$1.30M
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Net present value (NPV)
$962K
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Payback
<6 months
Benefits (Three-Year)
Revenue due to higher patient volume Revenue from more accurate coding Reduction in bad debt Cost savings from improved provider efficiency Cost savings from improved front desk efficiency Cost savings from decommissioned legacy solutionsTEI Framework And Methodology
From the information provided in the interviews, Forrester constructed a Total Economic Impact™ framework for those organizations considering an investment in Experity.
The objective of the framework is to identify the cost, benefit, flexibility, and risk factors that affect the investment decision. Forrester took a multistep approach to evaluate the impact that Experity can have on an organization.
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Due Diligence
Interviewed Experity stakeholders and Forrester analysts to gather data relative to Experity.
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Interviews
Interviewed five people at four organizations using Experity to obtain data about costs, benefits, and risks.
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Composite Organization
Designed a composite organization based on characteristics of the interviewees’ organizations.
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Financial Model Framework
Constructed a financial model representative of the interviews using the TEI methodology and risk-adjusted the financial model based on issues and concerns of the interviewees.
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Case Study
Employed four fundamental elements of TEI in modeling the investment impact: benefits, costs, flexibility, and risks. Given the increasing sophistication of ROI analyses related to IT investments, Forrester’s TEI methodology provides a complete picture of the total economic impact of purchase decisions. Please see Appendix A for additional information on the TEI methodology.
Disclosures
Readers should be aware of the following:
This study is commissioned by Experity and delivered by Forrester Consulting. It is not meant to be used as a competitive analysis.
Forrester makes no assumptions as to the potential ROI that other organizations will receive. Forrester strongly advises that readers use their own estimates within the framework provided in the study to determine the appropriateness of an investment in Experity.
Experity reviewed and provided feedback to Forrester, but Forrester maintains editorial control over the study and its findings and does not accept changes to the study that contradict Forrester’s findings or obscure the meaning of the study.
Experity provided the customer names for the interviews but did not participate in the interviews.
Consulting Team:
Matthew Carr
Drivers leading to the Experity investment
Interviews
| Role | Industry | Annual Revenue | Number Of Clinics |
|---|---|---|---|
| CEO | Urgent care | $8 million | 6 |
| COO | Urgent care | $8 million | 6 |
| Owner | Urgent care | $4 million | 2 |
| Medical director | Urgent care | $1.5 million | 1 |
| CEO and owner | Urgent care | $1 million | 1 |
Key Challenges
Before adopting Experity, interviewees’ organizations used a legacy EMR software. The interviewees noted how their organizations struggled with common challenges, including:
- Failure to drive business growth. Interviewees’ organizations wanted to increase revenue by empowering their providers to see more patients and adding new clinics if the opportunity arose. To achieve this, they desired a modern solution that delivered greater efficiency and accuracy when it came to charting and coding. The COO summarized: “We found that for growth there were certain features that [our legacy solution] just didn’t have. Every time we would look to do something to grow and expand, we hit that wall [due to software limitations].”
- A lack of features. Interviewees wanted several specific features to enhance employee efficiency and improve the patient experience. In addition to charting built for urgent care, interviewees pointed to a need for offerings like streamlined workflows, online registration, patient text reminders, and post-visit patient surveys.
- A lack of tailoring for urgent care. The templates and features of interviewees’ legacy solutions were not tailored to the urgent care space, hindering operational efficiency. The owner described their legacy solution, stating, “It was not as robust [as Experity] and not formulated well to urgent care.”
- The need for a full set of solutions. Interviewees wanted the availability of all solutions they might need and for them to be fully integrated. Their legacy EMR often did not have complementary solutions, such as PE, business intelligence, teleradiology, RCM, and consulting. For example, the owner said, “The availability of RCM services was really big for us [in deciding to adopt Experity.]”
Composite Organization
Based on the interviews, Forrester constructed a TEI framework, a composite company, and an ROI analysis that illustrates the areas financially affected. The composite organization is representative of the interviewees’ organizations, and it is used to present the aggregate financial analysis in the next section. The composite organization has the following characteristics:
Description of composite. The composite organization operates two urgent care clinics. At each clinic there is a 10-hour shift six days a week. Four employees, including one provider, work per shift. In total, 16 employees are employed by the composite. Prior to adopting Experity, a provider saw an average of three patients per hour and the average revenue per patient encounter was $120.91; with Experity, these metrics increase to 3.45 and $133, respectively. The composite’s total revenue is approximately $2.58 million with Experity.
Deployment characteristics. The composite organization uses Experity to manage its urgent care clinics, replacing a legacy EMR. The composite’s Experity implementation includes the adoption of its EMR, PM, PE, business intelligence, and teleradiology solutions with potential to use its RCM and consulting services in the future as needed. All employees use Experity.
Quantified benefit data as applied to the composite
Total Benefits
| Ref. | Benefit | Year 1 | Year 2 | Year 3 | Total | Present Value |
|---|---|---|---|---|---|---|
| Atr | Revenue due to higher patient volume | $252,088 | $252,088 | $252,088 | $756,265 | $626,906 |
| Btr | Revenue from more accurate coding | $175,683 | $175,683 | $175,683 | $527,048 | $436,897 |
| Ctr | Reduction in bad debt | $24,188 | $24,188 | $24,188 | $72,563 | $60,151 |
| Dtr | Cost savings from improved provider efficiency | $37,440 | $37,440 | $37,440 | $112,320 | $93,108 |
| Etr | Cost savings from improved front desk efficiency | $16,848 | $16,848 | $16,848 | $50,544 | $41,898 |
| Ftr | Cost savings from decommissioned legacy solutions | $15,000 | $15,000 | $15,000 | $45,000 | $37,303 |
| Total benefits (risk-adjusted) | $521,247 | $521,247 | $521,247 | $1,563,740 | $1,296,263 | |
Revenue Due To Higher Patient Volume
Evidence and data. Interviewees said a primary benefit of Experity was that it enabled their providers to work efficiently and see more patients. This improved throughput was due to Experity benefits like streamlined charting and coding, information and workflows that sit in one place with templates built for urgent care, and differential diagnosis functionality. Among the interviewees who could quantify this benefit, patient volume per hour increased by 10% to 30%, resulting in a significant revenue uplift.
- The ability to quickly complete charting and coding with Experity allowed providers at interviewees’ organizations to see more patients. The CEO explained: “Experity allows us to see patients so much quicker by closing the charts and moving on. It has an AI algorithm in there that follows the Medicare guidelines. They’re not having to come up with codes in their head.”
- Multiple interviewees highlighted the value of Experity’s autopopulation capabilities and reported that the software reduced the time needed for charting from about 15 minutes to 5 minutes or less.
- Interviewees highlighted that the differential diagnosis functionality in Experity allowed their providers to work more productively. The CEO said: “[The Experity differential diagnosis functionality] builds the case. It substantiates and validates. It’s very clear and very fast. Providers are a lot more efficient and they’re a lot more confident in what they’re doing.”
- Additionally, Experity made providers at interviewees’ organizations more efficient because the software put patient information in one place and was easy to use with templates built for urgent care. The owner explained, “Experity works so smoothly in finding information for the patient and the templates and fewer clicks have been very nice.”
- Interviewees noted Experity supported streamlined workflows as providers could use the software on tablets throughout the course of the patient visit with prescriptions and work excuses already in the system before the patient reaches the front desk to check out.
- The CEO summed up the substantial benefit of their providers being more efficient: “[Experity enabling us to see more patients each day] is huge. If you’re not turning rooms, you’re not making money.”
- Although provider capacity was the primary bottleneck and concern, interviewees noted that Experity enabled staff to support a high level of throughput as well. The COO said: “[Medical support staff] can move room to room [with Experity on a tablet], just like a provider does. It’s our workflow, it’s consistent, and [it helps] accuracy. As a result, it improves our throughput.”
Modeling and assumptions. Based on the interviews, Forrester assumes the following about the composite organization:
- The composite has two clinics.
- Each clinic has one provider working at a time who sees patients 9 hours per day, 312 days per year.
- Before Experity, a provider sees an average of three patients per hour. Due to Experity, this number increases to 3.45 as there is a 15% increase in the patient encounters a provider can accommodate each hour.
- The average revenue per patient encounter with Experity is $133.
Risks. The benefit of revenue due to higher patient volume will vary based on:
- The number of providers and the hourly rate of patient encounters before Experity.
- The average revenue from a patient encounter.
- The tools and processes in place before Experity that enable providers to efficiently complete patient encounters.
Results. To account for these risks, Forrester adjusted this benefit downward by 25%, yielding a three-year, risk-adjusted total PV (discounted at 10%) of $627,000.
Revenue Due To Higher Patient Volume
| Ref. | Metric | Source | Year 1 | Year 2 | Year 3 | |
|---|---|---|---|---|---|---|
| A1 | Number of clinics | Composite | 2 | 2 | 2 | |
| A2 | Number of providers working per clinic | Composite | 1 | 1 | 1 | |
| A3 | Number of patients seen per hour per provider before Experity | Interviews | 3 | 3 | 3 | |
| A4 | Percentage increase in patient encounters per provider with Experity | Interviews | 15% | 15% | 15% | |
| A5 | Number of patients seen per hour per provider after Experity | A3*(1+A4) | 3.45 | 3.45 | 3.45 | |
| A6 | Increase in patient encounters per hour per provider | A5-A3 | 0.45 | 0.45 | 0.45 | |
| A7 | Daily hours a provider spends seeing patients | Composite | 9 | 9 | 9 | |
| A8 | Number of days per year a clinic is open | Composite | 312 | 312 | 312 | |
| A9 | Average revenue per patient encounter | Composite | $133 | $133 | $133 | |
| At | Revenue due to higher patient volume | A1*A2*A6*A7*A8*A9 | $336,118 | $336,118 | $336,118 | |
| Risk adjustment | ↓25% | |||||
| Atr | Revenue due to higher patient volume (risk-adjusted) | $252,088 | $252,088 | $252,088 | ||
| Three-year total: $756,265 | Three-year present value: $626,906 | |||||
Revenue From More Accurate Coding
Evidence and data. Interviewees said their providers coded more accurately due to the coding engine in Experity that efficiently and effectively captured the services rendered. Among interviewees who could quantify this metric, this improved accuracy led to an average 10% to 15% increase in revenue per patient encounter.
- Interviewees said that before Experity, their providers were prone to errors given the difficulty of understanding the full details of coding. They reported that the Experity coding engine significantly helped providers and improved accuracy.
- The CEO and owner elaborated on how Experity delivered a more streamlined and automated coding process: “Experity has an algorithm that suggests the proper codes [based upon what has been documented in the system]. That’s critically helpful. I have nothing but praise for that. I don’t have time to learn all the intricacies of coding. Experity takes that off my plate. Once you finish the chart, all the codes are there. You just have to hit sign and it’s done.”
- The CEO expressed high confidence in Experity’s coding accuracy: “Experity gives you, with a 99-percentile factual rating, what the codes are. Every provider is worried they’re going to overchart. Experity allows them to chart and not have to think about it because it corrects itself.”
- The same interviewee explained that the more accurate coding ultimately led to a revenue uplift, stating, “Experity allows you to get what you’ve earned.”
- Interviewees explained that business intelligence tools in Experity further drove compliance and coding accuracy as reports could be generated to monitor coding consistency across providers over time. More generally, the medical director said: “The business intelligence and reporting [in Experity] is robust. It’s very helpful.”
Modeling and assumptions. Based on the interviews, Forrester assumes the following about the composite organization:
- There are 19,375 total patient encounters across all clinics.
- The average revenue per patient encounter before Experity is $120.91. This increases by 10% on average due to more accurate coding with Experity for an average of $133 per patient encounter.
Risks. The benefit of revenue from more accurate coding will vary based on:
- The number of patient encounters and the average revenue per encounter.
- The accuracy of coding before Experity.
Results. To account for these risks, Forrester adjusted this benefit downward by 25%, yielding a three-year, risk-adjusted total PV (discounted at 10%) of $437,000.
Revenue From More Accurate Coding
| Ref. | Metric | Source | Year 1 | Year 2 | Year 3 | |
|---|---|---|---|---|---|---|
| B1 | Total patient encounters across all clinics | A1*A2*A5*A7*A8 | 19,375 | 19,375 | 19,375 | |
| B2 | Average revenue per patient encounter before Experity | Composite | $120.91 | $120.91 | $120.91 | |
| B3 | Average percentage increase in revenue per patient encounter with Experity | Interviews | 10% | 10% | 10% | |
| B4 | Average revenue per patient encounter after Experity | B2*(1+B3) | $133.00 | $133.00 | $133.00 | |
| B5 | Average incremental revenue per patient encounter with Experity | B4-B2 | $12.09 | $12.09 | $12.09 | |
| Bt | Revenue from more accurate coding | B1*B5 | $234,244 | $234,244 | $234,244 | |
| Risk adjustment | ↓25% | |||||
| Btr | Revenue from more accurate coding (risk-adjusted) | $175,683 | $175,683 | $175,683 | ||
| Three-year total: $527,048 | Three-year present value: $436,897 | |||||
Reduction In Bad Debt
Evidence and data. Interviewees’ organizations saw a reduction in their bad debt after adopting Experity. Interviewees credited this reduction to Experity’s insurance verification, financial text reminders, credit card on file option, and features that reduce employee mistakes. Among interviewees who could quantify this benefit, bad debt decreased by approximately 25% with Experity.
- Interviewees explained that automatic insurance verification with Experity helped ensure revenue collection. The CEO and owner specified the importance of real-time eligibility (RTE): “RTE automatically tells you if that patient’s insurance is good. In the past, we had to go to different systems, go to the insurance website, call somebody special to figure out if the insurance is good — and you can imagine the issues that caused.” More broadly, the owner said, “The automatic insurance verification [with Experity] is extremely helpful.”
- Interviewees said financial text reminders with Experity made it easier for patients to pay and to do so quickly. The COO noted that they improved revenue collection, adding: “Text-to-pay is great for patient experience but also from a business standpoint. It’s easier for the patient to pay and [to do so] faster.”
- The medical director noted the value of card-on-file capabilities with Experity, stating, “Card on file as part of a normal workflow is very important because we don’t need to chase patients for their portion of the bill.”
- Interviewees also observed that Experity improved the overall competence of the front desk, resulting in fewer mistakes that negatively affect revenue collection.
- Interviewees’ organizations used Experity business intelligence to better understand various financial metrics related to bad debt. Additionally, some interviewees highlighted the helpfulness of their Experity account managers in identifying and talking through issues like bad debt.
Modeling and assumptions. Based on the interviews, Forrester assumes the following about the composite organization:
- The composite’s annual revenue is $2.58 million.
- Before Experity, bad debt as a percentage of total revenue was 5%.
- Bad debt is reduced by 25% due to Experity.
Risks. The benefit of reduction in bad debt will vary based on:
- The amount of bad debt before Experity.
- The extent to which Experity tools that reduce bad debt are leveraged.
Results. To account for these risks, Forrester adjusted this benefit downward by 25%, yielding a three-year, risk-adjusted total PV (discounted at 10%) of $60,000.
Reduction In Bad Debt
| Ref. | Metric | Source | Year 1 | Year 2 | Year 3 | |
|---|---|---|---|---|---|---|
| C1 | Annual revenue | Composite | $2,580,000 | $2,580,000 | $2,580,000 | |
| C2 | Bad debt as percentage of total revenue before Experity | Composite | 5% | 5% | 5% | |
| C3 | Reduction in bad debt with Experity | Interviews | 25% | 25% | 25% | |
| C4 | Bad debt as percentage of total revenue after Experity | Interviews | 3.75% | 3.75% | 3.75% | |
| C5 | Previously bad debt that is now collected revenue with Experity as percentage of total revenue | C2-C4 | 1.25% | 1.25% | 1.25% | |
| Ct | Reduction in bad debt | C1*C5 | $32,250 | $32,250 | $32,250 | |
| Risk adjustment | ↓25% | |||||
| Ctr | Reduction in bad debt (risk-adjusted) | $24,188 | $24,188 | $24,188 | ||
| Three-year total: $72,563 | Three-year present value: $60,151 | |||||
Cost Savings From Improved Provider Efficiency
Evidence and data. The same Experity features that enabled providers at interviewees’ organizations to be more efficient and see a higher number of patients during operating hours also allowed them to eliminate after-hours work. In particular, the streamlined charting with Experity meant that providers had less charting and administrative work to complete at the end of the day. On average, providers at interviewees’ organizations were able to eliminate approximately 1 hour of after-hours work per day due to Experity.
- All efficiency-enhancing Experity features (e.g., having information in one place, smoother workflows, and differential diagnosis functionality) saved providers time during the workday and ultimately contributed to reducing their after-hours work.
- However, interviewees highlighted the ease of charting with Experity as the most significant game changer. Charting designed for urgent care with autopopulation capabilities allowed providers to complete this work during the normal course of the day.
- The CEO added: “Providers were sometimes spending hours at night completing the charts that they couldn’t complete during the day. Now [with Experity], they don’t have to do anything at night.”
Modeling and assumptions. Based on the interviews, Forrester assumes the following about the composite organization:
- There are two urgent care clinics. Each clinic has one provider working at a time.
- Due to Experity, each provider eliminates 1 hour of after-hours work per day.
- The clinics are open 312 days a year.
- The fully burdened hourly rate for providers is $80.
Risks. The benefit of cost savings from improved provider efficiency will vary based on:
- The legacy solution and the amount of after-hours work that providers have before the adoption of Experity.
- The number of clinics and providers.
- The average fully burdened salaries of providers.
Results. To account for these risks, Forrester adjusted this benefit downward by 25%, yielding a three-year, risk-adjusted total PV (discounted at 10%) of $93,000.
Cost Savings From Improved Provider Efficiency
| Ref. | Metric | Source | Year 1 | Year 2 | Year 3 | |
|---|---|---|---|---|---|---|
| D1 | Number of clinics | A1 | 2 | 2 | 2 | |
| D2 | Number of providers working per clinic | A2 | 1 | 1 | 1 | |
| D3 | Hours saved per provider per day due to avoided work after hours | Interviews | 1 | 1 | 1 | |
| D4 | Number of days a clinic is open per year | A8 | 312 | 312 | 312 | |
| D5 | Fully burdened hourly rate for a provider | Composite | $80 | $80 | $80 | |
| Dt | Cost savings from improved provider efficiency | D1*D2*D3*D4*D5 | $49,920 | $49,920 | $49,920 | |
| Risk adjustment | ↓25% | |||||
| Dtr | Cost savings from improved provider efficiency (risk-adjusted) | $37,440 | $37,440 | $37,440 | ||
| Three-year total: $112,320 | Three-year present value: $93,108 | |||||
Cost Savings From Improved Front Desk Efficiency
Evidence and data. Front desk employees at interviewees’ organizations saw time savings with Experity stemming from the software putting documentation in one place, enabling efficient workflows. Interviewees also noted the software was easy to use and specifically supported the urgent care environment. Interviewees also identified particular Experity features, such as eRegistration and insurance verification, that improved front desk efficiency. Among interviewees who could quantify this benefit, each clinic saved an average of 1.5 hours of front desk time per day due to Experity.
- Interviewees noted that Experity drove efficiency for staff by centralizing all documentation in a patient profile, which enabled easy access to insurance paperwork, medical reports from different providers, and other documentation related to patient history.
- Experity also allowed employees to track patients and know whether they were in the waiting, x-ray, or exam room. The owner explained: “We love Experity’s layout and the ability to track where the patient is and keep track of the flow of patients. It helps with overall efficiency.”
- Interviewees repeatedly emphasized that Experity was easy for front desk staff to use. The owner said: “Experity is very well-designed. The system is great.”
- Interviewees noted that efficiency-driving features in Experity, such as the queuing system and onscreen templates, were made specifically for the urgent care space. The medical director said: “In terms of the expediency and relevancy for what we needed as an urgent care, Experity was a no-brainer [compared to EMRs purporting to accommodate any healthcare specialty].”
- The CEO and owner highlighted the benefit of eRegistration with Experity: “We found that eRegistration has made things really easy. We send patients a text message with Experity. They can register themselves. It’s very efficient and amazing for the front desk.”
- The owner noted similar time savings related to insurance, stating, “The insurance verification [with Experity] is huge for us when it comes to front desk efficiency.”
Modeling and assumptions. Based on the interviews, Forrester assumes the following about the composite organization:
- The composite organization has two urgent care clinics.
- Due to Experity, each clinic saves 1.5 hours of front desk time per day on average.
- The clinics are open 312 days a year.
- The fully burdened hourly rate for front desk employees is $24.
Risks. The benefit of cost savings from improved employee efficiency will vary based on:
- The legacy solution and the extent to which its features and capabilities enabled efficiency.
- The number of clinics and front desk staff.
- The average fully burdened salaries of front desk staff.
Results. To account for these risks, Forrester adjusted this benefit downward by 25%, yielding a three-year, risk-adjusted total PV (discounted at 10%) of $42,000.
Cost Savings From Improved Front Desk Efficiency
| Ref. | Metric | Source | Year 1 | Year 2 | Year 3 | |
|---|---|---|---|---|---|---|
| E1 | Number of clinics | A1 | 2 | 2 | 2 | |
| E2 | Total hours saved by front desk staff per day per clinic | Interviews | 1.5 | 1.5 | 1.5 | |
| E3 | Number of days per year a clinic is open | A8 | 312 | 312 | 312 | |
| E4 | Fully burdened hourly rate for a front desk staff member | Composite | $24 | $24 | $24 | |
| Et | Cost savings from improved front desk efficiency | E1*E2*E3*E4 | $22,464 | $22,464 | $22,464 | |
| Risk adjustment | ↓25% | |||||
| Etr | Cost savings from improved front desk efficiency (risk-adjusted) | $16,848 | $16,848 | $16,848 | ||
| Three-year total: $50,544 | Three-year present value: $41,898 | |||||
Cost Savings From Decommissioned Legacy Solutions
Evidence and data. Experity served as a comprehensive software solution at interviewees’ organizations. Since Experity fully provided the capabilities needed to successfully manage their urgent care clinics, the legacy systems the interviewees’ organizations previously used were decommissioned.
- The prior environments at interviewees’ organizations varied but consistently included a legacy EMR. Interviewees said a benefit of Experity was that it offered not only an EMR and PM solution, but also PE, business intelligence, teleradiology, RCM, payment solutions, and consulting services. This broad suite allowed them to select the desired mix of solutions from a single provider.
- Interviewees noted that operational efficiency and seamless integration could be compromised when solutions were sourced from multiple providers. The medical director added: “With Experity, the solutions are bundled together. So there’s that convenience factor as well as money savings.”
Modeling and assumptions. Based on the interviews, Forrester assumes the composite organization spent $20,000 a year on its legacy solution and that, with the adoption of Experity, this solution is decommissioned.
Risks. The benefit of cost savings from decommissioned legacy solutions will vary based on:
- The cost of legacy systems.
- The speed with which legacy systems are decommissioned.
Results. To account for these risks, Forrester adjusted this benefit downward by 25%, yielding a three-year, risk-adjusted total PV (discounted at 10%) of $37,000.
Cost Savings From Decommissioned Legacy Solutions
| Ref. | Metric | Source | Year 1 | Year 2 | Year 3 | |
|---|---|---|---|---|---|---|
| F1 | Cost of decommissioned legacy solutions | Interviews | $20,000 | $20,000 | $20,000 | |
| Ft | Cost savings from decommissioned legacy solutions | F1 | $20,000 | $20,000 | $20,000 | |
| Risk adjustment | ↓25% | |||||
| Ftr | Cost savings from decommissioned legacy solutions (risk-adjusted) | $15,000 | $15,000 | $15,000 | ||
| Three-year total: $45,000 | Three-year present value: $37,303 | |||||
Unquantified Benefits
Interviewees mentioned the following additional benefits that their organizations experienced but were not able to quantify:
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Improved patient experience. Interviewees said that Experity features like online registration, dynamic queuing, and SMS notifications served to improve patient communication and reduce wait times. The COO explained that Experity’s business intelligence allowed them to further improve the patient experience, “With the BI tools, we can see in real time what’s happening, monitor the patient experience, shave time off of visits, and see optimization.”
The same interviewee explained that the patient surveys sent through Experity provided valuable feedback, improved online reviews, and drove repeat business: “With Experity Survey [formerly called Calibrater], we can capture feedback and respond. I believe it’s retained quite a few patients who we would have lost. We now have that direct communication with them and solve the problem before it goes to [online reviews]. That’s big for us.”
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Improved employee experience. Interviewees said Experity is easy for employees to use and makes their workday less cumbersome. The CEO elaborated: “Experity doesn’t just benefit the company, it benefits each provider because their job isn’t as taxing. They have a better experience with patients, with staff, and they’re going to hang around. It’s a great employee experience.”
The owner added, “We’ve hired people that used other systems, and they really enjoy using Experity as opposed to those other systems.” The CEO and owner similarly explained: “Everybody’s happy with Experity. It’s very easy to use.”
- Ability to use RCM. Some interviewees used Experity’s RCM and described the service as highly knowledgeable and efficient. These interviewees saw improvements in key metrics like cycle time and days in AR. The medical director said: “The [Experity] RCM is of high value. They do a fantastic job getting everything out to the insurance so quickly. Having cash flow is make or break [for my clinic]; I rely on it to make payroll.”
- Flexibility to add teleradiology and consulting services. Interviewees said that a benefit of using Experity was the ability to easily add trusted teleradiology and consulting services. The CEO and owner added: “I have confidence in Experity consulting services. They have a lot of experience in the urgent care space. If I were to open another location, I wouldn’t hesitate to reach out to use them.”
Flexibility
The value of flexibility is unique to each customer. There are multiple scenarios in which a customer might implement Experity and later realize additional uses and business opportunities, including:
- Scalability. Interviewees said that Experity would remain an effective solution for their organizations even as they expanded. The CEO observed: “Experity allows us to scale. We’re in the middle of doing so. Experity made it very, very easy to implement and open new clinics.”
Flexibility would also be quantified when evaluated as part of a specific project (described in more detail in Appendix A).
Quantified cost data as applied to the composite
Total Costs
| Ref. | Cost | Initial | Year 1 | Year 2 | Year 3 | Total | Present Value |
|---|---|---|---|---|---|---|---|
| Gtr | Experity implementation and software fees | $12,500 | $100,000 | $100,000 | $100,000 | $312,500 | $261,185 |
| Htr | Employee time dedicated to implementation and training | $72,960 | $0 | $0 | $0 | $72,960 | $72,960 |
| Total costs (risk-adjusted) | $85,460 | $100,000 | $100,000 | $100,000 | $385,460 | $334,145 | |
Experity Implementation And Software Fees
Evidence and data. Interviewees’ organizations paid Experity for implementation services and the use of the software.
- Interviewees noted that costs were tailored to the needs of each organization and varied based on factors like the scope of the implementation and the Experity solutions used. All interviewees adopted the EMR and PM. Most also adopted the PE, business intelligence, and teleradiology, while some added RCM services as well.
- Interviewees spoke positively about the implementation assistance they received from Experity. For example, the CEO and owner said: “It was handled very well. We had a lot of touch points, a lot of help, a lot of hand holding.”
Modeling and assumptions. Based on the interviews, Forrester assumes the following about the composite organization:
- The composite pays $10,000 for implementation services.
- The composite pays $80,000 annually in software fees.
- The composite uses Experity’s EMR, PM, PE, business intelligence, and teleradiology.
- Pricing may vary. Contact Experity for additional details.
Risks. The cost of Experity implementation and software fees will vary based on:
- Customer-specific pricing.
- The scope of the implementation.
- The Experity solutions adopted.
Results. To account for these risks, Forrester adjusted this cost upward by 25%, yielding a three-year, risk-adjusted total PV (discounted at 10%) of $261,000.
Experity Implementation And Software Fees
| Ref. | Metric | Source | Initial | Year 1 | Year 2 | Year 3 | |
|---|---|---|---|---|---|---|---|
| G1 | Experity software fees | Interviews | $0 | $80,000 | $80,000 | $80,000 | |
| G2 | Experity implementation services | Interviews | $10,000 | ||||
| Gt | Experity implementation and software fees | G1+G2 | $10,000 | $80,000 | $80,000 | $80,000 | |
| Risk adjustment | ↑25% | ||||||
| Gtr | Experity implementation and software fees (risk-adjusted) | $12,500 | $100,000 | $100,000 | $100,000 | ||
| Three-year total: $312,500 | Three-year present value: $261,185 | ||||||
Employee Time Dedicated To Implementation And Training
Evidence and data. At interviewees’ organizations, some employees dedicated time to implementing Experity. Moreover, employees spent time training on and learning the software.
- The length of time to implement Experity varied, ranging from around eight to 16 weeks at the interviewees’ organizations.
- On average, it took employees at interviewees’ organizations around three days to train on and learn Experity.
- Interviewees noted that training was necessary, but not difficult. The CEO said, “The easiest part of opening a new clinic was the Experity EMR training.”
Modeling and assumptions. Based on the interviews, Forrester assumes the following about the composite organization:
- The composite has two clinics and the implementation of Experity takes 16 weeks. Each week of the implementation requires a total of 20 hours of employee time per clinic.
- There are 16 employees organizationwide. Each employee spends 24 hours training on Experity.
- The fully burdened hourly rate for employees engaging in implementation and/or training is $57.
Risks. The cost of employee time dedicated to implementation and training will vary based on:
- The number of clinics and employees.
- The scope of the implementation and the Experity solutions adopted.
- The skill set of employees.
- The annual fully burdened salary of employees.
Results. To account for these risks, Forrester adjusted this cost upward by 25%, yielding a three-year, risk-adjusted total PV (discounted at 10%) of $73,000.
Employee Time Dedicated To Implementation And Training
| Ref. | Metric | Source | Initial | Year 1 | Year 2 | Year 3 | |
|---|---|---|---|---|---|---|---|
| H1 | Weeks to implement Experity | Interviews | 16 | ||||
| H2 | Number of clinics | A1 | 2 | ||||
| H3 | Employee hours dedicated to Experity implementation each week per clinic | Interviews | 20 | ||||
| H4 | Subtotal: Total implementation hours | H1*H2*H3 | 640 | ||||
| H5 | Number of employees organizationwide | Composite | 16 | ||||
| H6 | Employee hours dedicated to training for and learning Experity | Interviews | 24 | ||||
| H7 | Subtotal: Total training hours | H5*H6 | 384 | ||||
| H8 | Fully burdened hourly rate for an employee engaged in implementation and training | Composite | $57 | ||||
| Ht | Employee time dedicated to implementation and training | (H4+H7)*H8 | $58,368 | $0 | $0 | $0 | |
| Risk adjustment | ↑25% | ||||||
| Htr | Employee time dedicated to implementation and training (risk-adjusted) | $72,960 | $0 | $0 | $0 | ||
| Three-year total: $72,960 | Three-year present value: $72,960 | ||||||
Consolidated Three-Year, Risk-Adjusted Metrics
Cash Flow Chart (Risk-Adjusted)
Total costs Total benefits Cumulative net benefits Initial Year 1 Year 2 Year 3-
The financial results calculated in the Benefits and Costs sections can be used to determine the ROI, NPV, and payback period for the composite organization’s investment. Forrester assumes a yearly discount rate of 10% for this analysis.
These risk-adjusted ROI, NPV, and payback period values are determined by applying risk-adjustment factors to the unadjusted results in each Benefit and Cost section.
Cash Flow Analysis (Risk-Adjusted Estimates)
| Initial | Year 1 | Year 2 | Year 3 | Total | Present Value | |
|---|---|---|---|---|---|---|
| Total costs | ($85,460) | ($100,000) | ($100,000) | ($100,000) | ($385,460) | ($334,145) |
| Total benefits | $0 | $521,247 | $521,247 | $521,247 | $1,563,740 | $1,296,263 |
| Net benefits | ($85,460) | $421,247 | $421,247 | $421,247 | $1,178,280 | $962,118 |
| ROI | 288% | |||||
| Payback | <6 months | |||||
Appendix A: Total Economic Impact
Total Economic Impact is a methodology developed by Forrester Research that enhances a company’s technology decision-making processes and assists solution providers in communicating their value proposition to clients. The TEI methodology helps companies demonstrate, justify, and realize the tangible value of business and technology initiatives to both senior management and other key stakeholders.
Total Economic Impact Approach
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Benefits represent the value the solution delivers to the business. The TEI methodology places equal weight on the measure of benefits and costs, allowing for a full examination of the solution’s effect on the entire organization.
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Costs comprise all expenses necessary to deliver the proposed value, or benefits, of the solution. The methodology captures implementation and ongoing costs associated with the solution.
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Flexibility represents the strategic value that can be obtained for some future additional investment building on top of the initial investment already made. The ability to capture that benefit has a PV that can be estimated.
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Risks measure the uncertainty of benefit and cost estimates given: 1) the likelihood that estimates will meet original projections and 2) the likelihood that estimates will be tracked over time. TEI risk factors are based on “triangular distribution.”
The initial investment column contains costs incurred at “time 0” or at the beginning of Year 1 that are not discounted. All other cash flows are discounted using the discount rate at the end of the year. PV calculations are calculated for each total cost and benefit estimate. NPV calculations in the summary tables are the sum of the initial investment and the discounted cash flows in each year. Sums and present value calculations of the Total Benefits, Total Costs, and Cash Flow tables may not exactly add up, as some rounding may occur.
Appendix B: Endnotes
1 Total Economic Impact is a methodology developed by Forrester Research that enhances a company’s technology decision-making processes and assists solution providers in communicating their value proposition to clients. The TEI methodology helps companies demonstrate, justify, and realize the tangible value of business and technology initiatives to both senior management and other key stakeholders.
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