Dr. Ehrlinger and Dr. Copas are partners who own and operate a small medical practice in rural Kentucky. They are considering upgrading their practice to use electronic health records, but they are concerned about the costs involved. Including the initial startup cost and the estimated cost to maintain the system, how much will upgrading to an EHR system cost the practice in the next 5 years?
A. $44,000
B. $78,000
C. $88,000
D. $156,000
E. $173,000
D. $156,000
The initial cost for the first year is $44,000 per physician, or $88,000. For the next four years, the estimated maintenance will be $8,500 per physician per year, or $68,000; $88,000 + $68,000 = $156,000.
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