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Financing Your Electronic Health Records System

Like many physicians in the community, you may be looking to implement an electronic health records system (EHR) at your practice.

The Columbia Bank's Health IT Financing Package can help:

  • 100% of $25,000 implementation cost per physician.
  • Competitive fixed or floating rates available.
  • 48-month term.
  • Interest only for 12 months, then 36 equal monthly payments.
  • Secured with business assets, such as inventory and accounts receivable.
  • Flexible business funding options for your practice when you need them.

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We are your Health IT Financing Partner.

  • Our expertise and quick turnaround with our Health IT Financing Package will allow you to implement an electronic health records system now.
  • We know the potential for significant cost savings is available through the government.
  • We realize the importance and benefits of an electronic health records system at your office.
  • We offer quick turn-around for financing implementation over a 48-month period.

For more information on our Health IT Financing Package, please call a local Commercial Banking Office at:

  • Anne Arundel & Howard County: 410.730.5070
  • Baltimore City/County: 410.427.3500
  • Cecil County: 410.398.3900
  • Frederick County: 301.228.2450
  • Montgomery County: 301.309.0086
  • Prince George's County: 301.623.3328
  • Washington County: 301.739.0850

Cost to implement an EHR system varies with providers, but on average the cost has come in at approximately $25,000 initially per doctor. In addition to this, there is typically a monthly fee for maintaining the records, support, etc. which can run $500 per month. Keep in mind that in addition to the costs associated with implementing a system, there is a dramatic change in how the practice and doctors function in delivering care to their patients. Typically, it takes about a year for an office to adapt to the new systems and workflows. This is one of the reasons we've designed a package to cover 100% of the initial cost per doctor, to provide added relief when the practice might be paying the additional monthly costs, as well as, possibly having revenues temporarily impacted by the changes.

The American Recovery and Reinvestment Act of 2009 provides for financial incentives to promote investment in healthcare IT. You should consult with your accountant or tax /professional for additional details or information on the EHR program as it relates to your situation.