Yes. It all depends on the quality you're after what's involved.
You can get a reasonable scan usable for web posting, e-mail etc.. from many < US$200 flatbed scanners, but if you get a dedicated slide/negative scanner you can produce digital images that are far more detailed than current digital cameras can do... However these will generally cost you >US$1000. (The good ones, with Digital ICE and similar features for removing scratches and dust).
B