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Health Care: Electronic Health Records Bring Efficiency and Savings
Doctors and small medical practices are rushing to sign up for Electronic Health Record (EHR) systems in order to collect government stimulus incentive money for adopting electronic records systems. The incentives are pretty sizable, but even without that money, EHR systems look to be stacking up as a technology that will bring long-term cost savings.
A survey by Medical Group Management Association compared medical practices that were solely paper based to those that have already adopted electronic records. The results were that practices which electronic records had nearly $50,000 more revenue for each full-time physician compared to those practices that were strictly paper based. That number implies that electronic records can make doctors more efficient and free up more of their time to spend with patients than in doing paperwork.
As you might expect, the report found that practices that adopt electronic health records found that the first year in operation was typically the most expensive for them, with subsequent years showing reduced costs.
