Application Of Ehr On Health Care Financing

In a healthcare world that operates on stringent budgets and margins, we begin to see the need for a higher capacity healthcare delivery system. This in turn puts pressure on the healthcare organizations to ensure higher standards of patient care, and compliance with the reform provisions. However, these are the harsh realities of today’s healthcare environment, a setting in which value does not always equal quality. The use of technology can help to amend some of this by providing higher capacity care without compromising quality; this can be done with the use of such technology as electronic health records (EHRs). This paper will aim to address how EHRs influence healthcare today by expanding upon topics such as funding sources, reimbursement methods, economic factors, socioeconomic factors, business influences, and cost containment.

Indicating the capital justification expenditures is vital for the return on investment of a Per Provider for Electronic Medical Record Implementation. Several key aspects are necessary to mention of the amount and type of expenditure, attainment of key decision criteria, and detailed financial analysis. Hospitals, clinics, and ambulatory care settings even have to indicate important capital expenditures. Factoring in risk is always crucial to consider as well as physician acceptance, competition from HCO’s and volume and market data increase. Health care organizations and universities should be maintaining increased ROI and consistently improving areas of risk and HCO’s aspects to be mentioned in further detail.

The software related Electronic health record implementation need to be appropriate for the needs of the organization and budget.(Swab, & Ciotti, 2010) The EHR software system has many areas of market depending upon the size of the hospital bed size. The first criteria for the vendors according to the bed with 100 and small hospital The Electronic health record system cost about between $ 1 million and 2 for the electronic health record system The electronic health record software cost for the organization about medium hospital cost is much larger than the first one. It comes around three to ten million. The hospital and organization with more than average bed cost for the electronic health record system will be higher amount than the other one. The cost and amount of electronic health record system will depend upon the size of the hospital . The management has to decide about the budget for the organization. (Swab, & Ciotti, 2010). The organization must evaluate its mission and goals in light of its particular strengths and weakness and in light of the demand for services and competition in the external environment. Based on that evaluation it can make a plan that will take advantage of opportunities like Electronic health record implementation according to the goals of an organization.(Finkler, Ward, & Baker, 2007).

EHRs have also changed healthcare by increasing productivity. Now health care professionals are not having to order scan or test multiple times due to results not being able to be located. One additional way that EHRs have changed the healthcare industry is by increase patient satisfactions. Patients like that their healthcare providers are easily up to date on the facts of their health information. Healthcare IT is now considered as a essential factor of a high-quality healthcare system (Wager, Lee, Glaser, 2013).

One of the greatest milestones in the United States health system is the use of electronic health records codes to ensure consistency in diagnosis and treatment procedures provided by physicians (Romano & Stafford 2011). The purpose of the case scenario of the sixteen year old female who visits the emergency department is to show how electronic health record coding is done and its impact on health reimbursement. The International Classification of Diseases (ICD) and the Current Procedural Terminology (CPT) codes are brought out well in the case study showing how they help in ensuring physician consistency in coding diagnosis and treatment procedures for the purpose of health reimbursement.

Hence, EHR 's are inherently complex amalgamations of diverse subsystems targeted toward varied users. The stakeholders are the users and must have a role in implementing any IT or EHR system into its work flow. An EHR can be customized to accommodate any environment depending on the level of expertise of the vendor and how long they have been in the business of creating an optimum system that 's customized to fit the organizations needs. For the most part, EHR 's must be designed for efficient, error free use. Ideally, an EHR is a system that encompass all the subsystems that make a hospital meet "meaningful use" criteria to acquire incentives for adopting EHR into practice. In the next five years, EHR adoption will no longer be a luxury, it will be a "MUST". EHR 's and other health information technology will be a necessity to practice medicine (econsultant.com, 2010). Rather than purchase several standalone systems, it would behoove one , in my opinion , to purchase an EHR that would satisfy all the needs of the stakeholders, the physician , nurses and other hospital staff and all parties involved in the tertiary practice too. Although LWMS 's budget is not large enough to accommodate the full cost of implementing an EHR,

However, there’s an enormous amount of money involved to acquire these advanced EHR systems. There are fears of losing the capital investment. According to Prasad (2013), “better medicine means stable business.” With EHRs capability to provide efficient healthcare services, it is helping in containing the healthcare cost. However, some CFOs have looked beyond the financial gains of the EHR implementation. “You have to look beyond that to the intangible benefits, the improvements in delivery care and position your organization to be competitive in the future” (“ROI: Look beyond,” n.d.). Indeed, EHR is a long-term investment for HCOs with a great promise for future

This course is designed as an introduction to the terminology, processes, functions, and financial reports commonly encountered in health care operations. This course introduces the concepts of basic managerial financial functions, such as budgeting, reimbursement methods, and the responsibilities of health care financial

As the emergence of electronic health records (EHRs), the subject of transforming the delivery method of healthcare is prominent in the United States. The use of EHRs is a major key in the way physicians practice in healthcare organizations through communication and management of patient information. Henricks (2011) points out that EHRs are a part of an objective aimed at improving all aspects of health care and reducing health disparities, making the healthcare of patients and families appealing to them, refining the direction of healthcare, along with population and public health improvement, continuation of privacy maintenance and the security of health information, and finally reducing costs. In the perspective of health information technology

The decision to convert to EHR had to be probably still is long hours of research, time consuming.

The EHR article explains the progress and the adaption of rates of EHR systems over the years. The article states there has been a slow participation in the EHR incentive program, but there has been a shown continue increase in implementation in provider settings of EHR in 2014. As for Physician and Hospital, there has not been a fast implementation. Many of these facilities are at only stage one of the meaningful use in 2014 about one out of five hospitals and only 38% of hospitals is at the second stage of meaningful use. There have been gains in the implementation of new EHR systems in 2014 there was a 75% adoption rate in 2014 compared to 61% in 2013 for hospitals and for physicians 62% plan to participate in the EHR

Sample Policy and Procedure TITLE: Security of protected information stored in the Electronic Health Record (EHR) DEPT: HIM SERVICES SUBMITTED BY: Madison Rogers DATE: June 1, 2017 APPROVED BY: Denice Saunders DATE: June 1, 2017 Effective Date: June 1, 2017 Purpose Design a policy and procedure for the security and monitoring of Protected Health Information (PHI) in your organization’s EHR policy.

HMO’s and enrollees are two important players in the world of health care. Due to uncertainty on the supply and demand, moral hazard, and adverse selection, decision making for HMO’s more complex. The simulation provided me the decision making tools necessary, when making an economic decision for an HMO. Health care can be seen as a good that consumers demand and managed care firms are considered to be suppliers of both health insurance and health care. Economics tells us that rational firms make choices to maximize profits. Managed care firms incur cost when providing health care services to their enrollees and maximize their revenue by

Three forces that are driving the change to EHR are rising healthcare costs, the lack of quality care being provided, and the government’s response to the two. More than one-sixth of the American economy is committed to health care spending and the percentage is continuing to rise yearly (American, n.d.). Unfortunately, the U.S. operates a stagnant healthcare system that is estimated to cost American citizens approximately $2.7 trillion annually. Experts agree that 20 to 30 percent, which is equivalent to $800 billion of the U.S. yearly health care spending is inefficient, wasteful, and redundant (American, n.d.).

Prof. Harn, I definitely feel that all the players in healthcare, including HIT vendors, healthcare providers, healthcare organizations, insurance providers, health departments, etc., are all morally and ethically responsible for the patients that these tools are being used for. Since these products are being used to document and provide care, they can lead to serious safety events, the unintended disclosure of confidential information, and contribute to the patient-provider relationship just as easily as the actions taken by individuals in providing patient care.