Can the Medical System Cut Costs?

04/04/2024

The number of medical facilities that use an electronic health record (EHR) system is on the rise. A simple and comprehensive system can significantly save medical staff time, reduce errors and improve patient relations.

While these features benefit clinics internally, they also lead to cost savings. Clinics that use a sophisticated EHR are no longer wasting money.

This factor often affects the patient’s pocket. For example, one trustworthy American study suggests that the treatment in the hospital that uses the medical system costs an average of 730 dollars (10%) less for the patient.

The main thing that leads to saving money is the efficiency of the processes; It also saves on research, prescriptions, and supplies.

The medical system saves time, the medical institution saves costs

Electronic health records (EHRs) facilitate a faster and more efficient workflow for medical staff. Easy access to patient data on computers, tablets, or smartphones eliminates the need to spend time retrieving paper records from different locations. This translates to significant time savings for medical personnel.

These time savings offer a two-pronged benefit. First, staff can accomplish more tasks in a single day. The time saved by not searching for paper records allows them to dedicate more time to other duties. Second, the time saved due to EHR efficiency opens doors for expanded job roles. For example, an employee previously focused on sorting and updating paper medical records could now take on additional responsibilities.

Reduced Errors Lead to Cost Savings

One of the key advantages of electronic health records (EHRs) is improved information accuracy. With EHRs, all medical staff involved in a patient’s care access the same, up-to-date information. This ensures everyone is working with the latest data, minimizing the risk of errors due to outdated or misread charts. This focus on accuracy in the treatment process is crucial for cost savings.

Electronic health records (EHRs) contribute to improved clarity and reduced errors. Standardized data entry formats ensure consistency in how information is recorded. This eliminates the risk of misinterpretations that can occur when reading handwritten notes with varying styles.

EHRs promote standardized data entry. This ensures that all staff use the same format when recording information. This consistency simplifies data comprehension and facilitates the creation of a unified patient health picture within the medical institution.

Electronic health records (EHRs) improve accessibility for all clinic staff, from doctors to technicians. With a centralized system, everyone knows exactly where to locate existing patient data or add new information. This reduces the risk of crucial details being missed during the course of treatment.

According to a study by SOA, billions of dollars are lost each year in the US due to medical errors. For example, in 2008 alone, 19 billion dollars were spent on this.

Fewer errors due to EHRs translate to financial advantages for patients as well. Inaccuracies in treatment can lead to additional costs for patients, such as the need for corrective procedures or medications. EHRs play a crucial role in minimizing these errors, ultimately reducing patients’ financial burden.

Greener Healthcare System

Electronic health records (EHRs) promote a more environmentally friendly healthcare system. By reducing reliance on paper for medical records and administrative tasks, EHRs significantly decrease the need for office supplies like paper, pen, and folders. This translates to a reduction in expenses for the clinic, a smaller environmental footprint and bigger storage space.

A well-designed EHR system goes beyond basic data storage. It can also include features like medical billing and electronic prescribing, further streamlining workflows and reducing the need for paperwork. This translates to a significant cost reduction for clinics.

Beyond cost savings, EHRs offer additional benefits for clinics. Clinics that utilize EHRs contribute to environmental protection by minimizing paper consumption for medical records and administrative tasks. This translates to less waste generation and a reduced environmental footprint.

In conclusion, transitioning to electronic health record systems offers numerous benefits for healthcare facilities. These benefits encompass not only financial savings for the clinic but also a positive impact on the environment and, ultimately, the patient experience.