As technology evolves and there’s more emphasis on streamlining business practices, there’s an increasing reliance on electronic health records. In 2014, private healthcare providers were required to adopt electronic medical records to maintain their existing Medicare and Medicaid reimbursement levels. The move was a part of the American Recovery and Reinvestment Act, which aimed to improve quality, safety, efficiency and reduce health disparities.
The Act also offered financial incentives to those providers who could prove meaningful use in the adoption of electronic health reporting. Non-compliant healthcare providers faced penalties, including a 1 percent reduction in Medicare reimbursements. When it was officially mandated, the U.S. Bureau of Labor Statistics (BLS) predicted a 12 percent growth in employment opportunities from 2014 to 2024. Positions they expected to open up included medical records and health information technicians, computer systems managers, health managers and computer support specialists.
If you’re unsure about the role electronic health reporting can play in your practice, using the following information as a valuable resource. Every practice can benefit from EHR, and it’s important to understand the how and why.
Electronic Medical Records vs. Electronic Health Records
Electronic medical records and electronic health records are often used interchangeably, but there are some key differences. Medical records offer a more narrow view of an individual’s medical history, and it’s used mainly for diagnosis and treatment. They are unique to a specific practice and are not designed to be shared outside of that practice.
Electronic health records, on the other hand, show a patient’s overall history. It is a comprehensive medical chart that’s intended to be shared with other practices. It includes everything from images to allergies to lab results. If the patient were to move across state lines, their electronic medical record would follow them, while an electronic health record stays with the practices they leave behind.
Improved Efficiency and Cost Savings
Electronic health records can provide immense benefits in terms of increased efficiency. This can be demonstrated by current statistics on EHR. One survey found that 79 percent of users stated that EHR allowed their practices to run more efficiently. Of the doctors surveyed, 82 percent reported that sending prescriptions electronically saved time, 75 percent received lab results even quicker, and 70 percent reported increased data confidentiality.