Electronic Health Records is the buzz word, which is being chanted more frequently than any other time in recent memory in the United States. Physician facilities and established hospitals are wary of the fact that EHR plays a vital role in generating a streamlined income-cycle and have endorsed it on many occasions. Be it getting the exact patient records, documentation, procedures and treatments given and producing the exact medical billing and coding requirements, EHR has everything that saves doctors time as well as money.
According to Health Information Technology for Economic and Clinical Health Act, throughout 2017 the US has spent over $40 billion on EHRs. However, the one question that pops up in our mind every now and then is that are these EHRs truly justified regardless of the investment?
Cost Saving Investment
Going digital is in itself a cost cutting alternative when contrasted with keeping paper records. With EHR, a patient's whole therapeutic history is saved in a database, and the requirement for paper documents and their costly stockpiling is nearly eliminated. We realize that specialists earn in minutes, and while doing so he/she is unable to keep up with or remember the history of all the patients treated. At the point when the patient information is provided digitally, it makes the entire workflow easy and cost effective.
Experts in the medical industry have evaluated that EHR can save anywhere between few thousand dollars every year for every patient when compared with customary techniques. There are numerous different reasons why EHR is more useful than the customary methods for utilizing paper and pen.
Below are some important points that support the use of EHR on various levels:
- According to research group RAND, when EHRs are actualized across the industry, the total savings of over $100 billion could be made in the coming 10 years.
- With EHRs set up, the chances of dosage and medical errors are eliminated. As the medical history is easily accessible, physicians can keep a track of the existing dosage and also be cautious about the allergies and medical intolerances of the patient.
- The digitized outline additionally helps in expelling any sort of duplications and diagnosis. Currently, over $50 billion a year is wasted due to duplicated diagnosis and wrong medications. If integrated perfectly, this is the amount the overall industry would save yearly.
- When patient details are accessible through an EHR, questions like whether the patient is covered by his insurance policy for the prescribed treatment or not are addressed even before the patient has his first meeting with the specialist.
- EHRs could be utilized as ready referrals by the specialists to comprehend the patient and the illnesses.
- Through an EHR, an electronic medical prescription could be specifically sent to the drug stores, which can cut down the risk of misunderstanding the doctor's handwriting.
- You don't have to search filter the whole office for a missing report when EHR is set up. You should simply tap the search button. Documents are easily accessible and search friendly with EHR.
- Another method of saving cost is that errors in billing and coding the treatments are verified at once. Presently, all the outsourced medical billing agencies only generate charges through the EHR data. This avoids denials in reimbursements and a speedier income cycle.
- Neglecting the physical paper work needed to be jolted down on each and every patient record, the new set of medical practitioners are now looking to work with practices that use EHR to save operational costs.
Alongside, reducing the cost of operations, resources and time, EHRs additionally help by saving trees and helping the environment. It is certainly not possible to eliminate the use of paper, but EHRs definitely help in reducing their use in your practice.
