Is Epic Too Big To Fail?

While there’s a chance an Epic purchase can endanger a hospital’s financial health, I’ve never heard a whisper of gossip suggesting that Epic is in financial trouble.

In fact, it appears virtually unstoppable. Though Epic is a private company, and doesn’t disclose its financial information, its 2014 revenue was estimated at $1.75 billion, up from $1.19 billion in 2011. And despite the fact that the hospital EMR market is getting saturated, the giant EMR vendor is doing quite nicely with the estimated 15% to 20% of the market it is reported to hold.

Still, what would happen if Epic took a body blow of some kind and stopped being able to support the implementation and operation of its products?  After all, buying an EMR isn’t like picking up, say, a fleet of trucks that the hospital services and maintains. For years — sometimes a decade — after a hospital goes with Epic, that hospital is typically reliant on Epic to help keep the EMR lights on.

Which brings me to my core question: Is Epic too big to fail? Would it create such a disaster in the healthcare market that the U.S. government should step in if Epic ever had a massive problem meeting its commitments?

As little as I like saying so, there’s a strong argument to be made that Epic simply can’t be allowed to stumble, much less crumble.

As of April 2014, Epic reportedly had 297 customers, a number which has undoubtedly grown over the past year. What’s more, 70% of HIMSS Analytics Stage 7 hospitals, i.e. hospitals for which their EMR is absolutely mission critical, use the EpicCare inpatient EMR.

If Epic were to face some financial or operational disaster that prevented it from supporting its hospitals customers, those hospitals would be very compromised. Epic’s customers simply couldn’t leap abruptly to, say, a competing Cerner system, as the transition could take several years.

Depending how far along in their Epic install and launch they were, hospitals might try to limp along with the technology they had in place, switch temporarily to paper records or try to keep their progress going with whatever Epic consultants they could find.

In an effort to recover from the loss of Epic support, hospitals would be forced to bid high for the services of those consultants. Hospitals could have their IT budgets decimated, their credit harmed or even be driven out of business.

In the crazy shuffle that would follow, there’s little doubt that many medical errors would occur, some serious and some fatal. It’s impossible to predict how many errors would arise, of course, but I think it’s easy to argue that the number would be non-trivial.

Given all this, the feds might actually be forced to step in and clean up Epic’s mess if it made one. Mind you, I’m not saying that, say, HHS has such a plan in place, but perhaps it should.

Ultimately, I think the healthcare industry ought to do some self-policing and find some ways to reduce its reliance on a single, frighteningly-powerful vendor. Over time, I believe that will involve gradually shifting away from reliance on existing EMRs to next-gen EMRs built to support value-driven payment and population health analysis. In the mean time, we’d better hope nobody drops a giant rock on Epic’s executive headquarters.

Posted in ACO, EMR Financing, Health IT Outsourcing, Healthcare Leadership, Hospital CFO, Hospital CIO, Hospital EHR, Hospital Electronic Health Record, Hospital Electronic Medical Record, Hospital EMR, Hospital EMR Company, Hospital EMR Vendor, Hospital Financial Management, Hospital Healthcare IT, Hospital IT Systems | Tagged , , , | Comments Off

Get Your Health Records and Help Save Lives

FreeOurHealthRecords.com makes it easy for patients to get their electronic health records from all of their doctors.

It’s free for patients and providers.

SAN FRANCISCO, CA, May 26, 2015 — Every single person has the right to a full copy of his or her health record. Having a complete and accurate record can sometimes mean the difference between life and death.

FreeOurHealthRecords.com, launched today, makes it easier than ever for a patient to collect electronic health records from multiple doctors and hospitals, to review the records for errors, to have multiple records from multiple healthcare providers automatically integrated into a single lifetime record, and to share that record with family members, other caregivers and healthcare providers of their choosing.

Powered by Flow Health, a free secure network that connects consumers, providers, and payers around lifetime patient records,FreeOurHealthRecords.com puts a practical tool in the hands of patients ready to take charge of their own health care.

While as many as 1 in 3 Americans have access to a limited view of their health records, available from one provider at a time, no patients and no providers have longitudinal lifetime views of health records.

The federal government recently issued a report on health information blocking, detailing the various ways in which some healthcare providers and health IT companies limit access to patient health information.

The Office of the National Coordinator of Health Information Technology (ONC) cites its ten-year plan, or interoperability roadmap, as holding some of the keys to solving this problem. Robert Rowley, MD, Co-Founder of Flow Health, said: “The medical literature tells us that over 400 people a day die due to impediments to easy sharing of health records, and countless others are harmed as well through errors brought about by the siloing of health information. We’ve eliminated all excuses by building a platform that is easy to use and that is free to providers and patients.” There is no reason to wait ten years for a solution to this problem.

The solution is available today. FreeOurHealthRecords.com gives patients a simple way to vault over roadblocks and collect and share their health information with their care teams.If a patient’s doctor or health plan is already using Flow Health, the records will already be on the platform and can easily be shared with the patient. For other providers, Flow Health has a HIPAA-compliant process to seamlessly retrieve the patient’s health records.

Individuals using FreeOurHealthRecords.com will be able to rest easy knowing their records are stored securely, that they have the final say in granting access to their records, and that these records will be available to them independent of any relationship with a doctor or other health care provider.

About FreeOurHealthRecords.com

FreeOurHealthRecords.com empowers patients to ask for and receive their health records from as many health care providers as they have. The service is free for patients and for providers. This service is powered by Flow Health, a free, secure network that connects consumers, providers, and payers around lifetime patient records.

Posted in Healthcare, Healthcare IT | Tagged , , , | Comments Off

Infographic: How Mobile Health Use Is Changing

Mobile health apps and hardware offer intriguing possibilities, though it’s hard for providers to tell what models and methods of use are going to stand out.  Clearly, mHealth is going to change the way care is delivered, and how patients take part in that care, but how?

Here’s a tidbit from McKesson that might offer some useful insight. The infographic, which draws on data from The Economist Intelligence Unit, predicts that mHealth is moving from providing consumer information to driving patients’ involvement in their own care.

One of the more interesting details in this chart is the prediction that within five years, the percentage of people using mHealth apps to share information will fall from an already-low 17% to 14%.

I was also intrigued by the notion that the number of people using mHealth to gain social support will rise from 17% now, rise to 26% then fall to 13%.  Does this suggest that consumers will shift communications styles back to more face-to-face channels of support?  That they’ll rely on some technology or model that hasn’t been invented yet?
It’s something to consider.

 

photo-changing-trends-in-mobile-health-technology

 

Posted in Healthcare Leadership, Healthcare Scene, Hospital Electronic Health Record, Hospital Electronic Medical Record, Hospital EMR, Hospital Healthcare IT, iPad/iPhone, Medical Devices, Mobile Technology | Tagged , , , , | Comments Off

Study: Scribes Have Positive Financial Impact

Many hospitals, and some larger medical practices, have been using scribes to capture medical documentation within EMRs — leaving the provider free to make old-fashioned eye contact with patients.

Using the scribe might sound like a crude workaround to techies, but it’s been a hit with emergency department doctors, who prefer to focus on their brief, critical encounters with patients rather than the hospital’s expensive toy.

While it was clear from the outset that doctors loved having a scribe to support them, there’s been scant evidence that the scribe was anything other than an added cost.

A recent study, however, has concluded that at least from a Case Mix Index standpoint, scribes can have a meaningful impact on a hospital’s revenue.  The study, which evaluated the use of scribes between 2012 and 2014 across a group of hospitals, concluded that the scribes save money and boost patient-doctor communication.

The study, which was designed to capture the impact of medical scribes on a hospital’s CMI, linked Best Practices Inpatient Care Ltd. with Advocate Good Shepherd Hospital, Advocate Condell Medical Center and hospitalist-specific medical scribes from ScribeAmerica LLC.

Kicking things off to a good start, ScribeAmerica and Best Practices put scribes through a jointly-developed course that emphasized workflow, productivity and accurate inpatient documentation. The researchers then tallied the results of using trained scribes over a two-year period in the two hospitals.

From 2012 to 2014, researchers found that for both Advocate Condell Medical Center and Advocate Good Shepherd Hospital, CMI values climbed after medical scribes came on board.  Advocate Good Shepherd’s CMI grew by .26 and Condell Medical’s CMI rose .28. These are pretty significant numbers given that a CMI growth of 0.1% typically translates to a gain of about $4,500 per patient. In this case, the hospitals gained roughly $12,000 per patient.

These findings make sense when you consider that using scribes seems to have served its purpose, which is to be extenders for providers who’d otherwise be hunched over an EMR screen.

Researchers found that inpatient physicians at the two hospitals studied were able to cut time spent on chart updates by about 10 minutes per patient on average. This profit-building effect is enhanced by the fact that scribes often get discharge summaries prepared immediately, rather than within 72 hours as is often the case in other hospitals.

That being said, it should be noted that the study we’ve summarized here was co-written by the CEO of Best Practices, which clearly invested a lot of time and effort training the scribes for the specific tasks important to the study.

Still, the study does suggest, at minimum, that scribes need not necessarily be written off as an expense, given their capacity for freeing providers for billable clinical activity. Ideally, IT vendors will develop an EMR that doctors actually want to use and don’t need an intermediary to work with effectively.  But until that happy day arrives, scribes seem like they can make a difference.

Posted in Community Hospitals, Hospital EHR, Hospital EHR Vendor, Hospital Electronic Medical Record, Hospital EMR, Hospital EMR Vendor, Hospital Financial Management, Hospital Healthcare IT, Hospital IT Budget, Hospital IT Systems, Hospital Patient Flow, Revenue cycle management | Tagged , , , , , , | Comments Off

Amazing Charts Launches Partner Community

Company Curates Third-Party Services and Solutions to Create Greater Value for Users

NORTH KINGSTOWN, RI–(Marketwired – May 21, 2015) – Amazing Charts, a leading developer of Electronic Health Record (EHR) and Practice Management (PM) systems for physician practices, today announced the Amazing Charts Partner Community, an online marketplace of innovative third-party services and solutions seamlessly integrated with the Amazing Charts platform.

The Amazing Charts Partner Community features a broad spectrum of value-added offerings for medical practices, including solutions for document management, patient engagement, care coordination, and revenue cycle management. Users can filter by product category, compare vendor offerings, and submit inquires. A few of the solutions listed, such as NoteSwift and Updox, are already utilized by Amazing Charts’ customer base, while most are new services curated from dozens of applicants.

“Now there is one place where Amazing Charts users can conveniently find trusted partners who have been pre-approved by our rigorous vetting process,” said Matt Pierce, Vice President of Sales and Business Development for Amazing Charts. “We will continue to expand the program as we identify new customer challenges and shifting market trends, forging partnerships with companies that are best positioned to meet those needs.”

About Amazing Charts

Amazing Charts provides Electronic Health Records (EHR/EMR), Practice Management, and other Health IT solutions to healthcare practices. Based on number one user ratings for usability, fair pricing, and overall satisfaction, Amazing Charts EHR has been adopted by more than 10,000 clinicians in over 6,800 private practices. Founded in 2001 by a family physician, today Amazing Charts, LLC operates as a subsidiary of Pri‐Med, an operating division of Diversified Communications (DC) and a trusted source for professional medical education to over 260,000 clinicians since 1995. For more information, visit: www.amazingcharts.com.

Posted in EHR, EHR Vendors, Electronic Health Record, Electronic Medical Record, EMR, EMR Vendors, Healthcare, Healthcare IT | Tagged , , , , , | Comments Off

Medical Device Vendors Will Inevitably Build Wearables

As we’ve reported in the past, hospitals are throwing their weight behind the use of wearables at a growing clip. Perhaps the most recent major deal connecting hospital EMRs with wearables data came late last month, when Cedars-Sinai Medical Center announced that it would be running Apple’s HealthKit platform. Cedars-Sinai, one of many leading hospitals piloting this technology, is building an architecture that will ultimately tie 80,000 patients to its Epic system via HealthKit.

But it’s not just software vendors that are jumping into the wearables data market with both feet. No, as important as the marriage of Epic and HealthKit will be to the future of wearables data, the increasing participation of medical device giants in this market is perhaps even more so.

Sure, when fitness bands and health tracking smartphone apps first came onto the market, they were created by smaller firms with a vision, such as the inventors who scored so impressively when they crowdfunded the Pebble smartwatch.  (As is now legendary, Pebble scooped up more than $20M in Kickstarter funding despite shooting for only $500,000.)

The time is coming rapidly, however, when hospitals and doctors will want medical-grade data from monitoring devices. Fairly or not, I’ve heard many a clinician dismiss the current generation of wearables — smartwatches, health apps and fitness monitoring bands alike — as little more than toys.  In other words, while many hospitals are willing to pilot-test HealthKit and other tools that gather wearables data, eventually that data will have to be gathered by sophisticated tools to meet the clinical demands over the long-term.

Thus, it’s no surprise that medical device manufacturing giants like Philips are positioning themselves to leapfrog over existing wearables makers. Why else would Jeroen Tas, CEO of Philips’ healthcare informatics solutions, make a big point of citing the healthcare benefits of wearables over time?

In a recent interview, Tas told the Times of India that the use of wearables combined with cloud-based monitoring approaches are cutting hospital admissions and care costs sharply. In one case, Tas noted, digital monitoring of heart failure patients by six Dutch hospitals over a four-year period led to a 57% cut in the number of nursing days, 52% decrease in hospital admissions and an average 26% savings in cost of care per patient.

In an effort to foster similar results for other hospitals, Philips is building an open digital platform capable of linking to a wide range of wearables, feeds doctors information on their patients, connects patients, relatives and doctors and enables high-end analytics.  That puts it in competition, to one degree or another, with Microsoft, Qualcomm, Samsung, Google and Apple, just for starters.

But that’s not the fun part.  When things will get really interesting  is when Philips, and fellow giants GE Healthcare and Siemens, start creating devices that doctors and hospitals will see as delivering medical grade data, offering secure data transmission and integrating intelligently with data produced by other hospital medical devices.

While it’s hard to imagine Apple moving in that direction, Siemens must do so, and it will, without a doubt. I look forward to the transformation of the whole wearables “thing” from some high-end experimentation to a firmly-welded approach built by medical device leaders. When Siemens and its colleagues admit that they have to own this market, everything about digital health and remote monitoring will change.

Posted in Cloud EHR, Healthcare Analytics, Hospital Business Intelligence, Hospital EHR, Hospital EHR Vendor, Hospital Electronic Health Record, Hospital Electronic Medical Record, Hospital EMR, Hospital Healthcare IT, Mobile Technology | Tagged , , , , , , | Comments Off

EHR Apple Watch Integration

We’ve been writing about the coming of the Apple Watch for a long time here at Smart Phone healthcare. Remember when we use to call it the iWatch? I must admit that I hadn’t seen many really interesting healthcare applications on the iWatch. They all felt like retreads of things that were basically accomplished on people’s smart phone and weren’t that much better on the watch.

Today, I might have read about the first healthcare IT application on the Apple Watch that could provide value to healthcare. The announcement came from Kareo and here’s a list of key functionality that they’ve included in the Apple Watch from the Kareo EHR:

  • Secure messaging that allows the user to send, reply, and read messages via dictation. Messages can be sent to staff or patients using Kareo’s secure messaging system, improving overall patient engagement and practice communication.
  • An agenda that allows the provider to quickly reference their schedule and see the status of appointments checked-in, no show, late, checked out, etc., helping reduce wait times and improve practice efficiency.
  • Appointment reminders that can be sent five minutes before the next scheduled appointment. The notification subtly vibrates the watch, indicating that the doctor has an impending appointment.
  • Appointment information that is accessible within a notification or through the agenda, allowing the provider to review details such as the patient’s name, time of appointment, visit type, and reason for the visit.
  • “I’m Running Late” pre-set messages that allow the doctor inform other staff members when they are running behind and how much longer they expect to be. This improves practice communication and enables the front desk to give patients a more accurate wait time estimate.
  • Apple “Glances” that provide a quick overview of key practice metrics, including how many patients are scheduled throughout the day, how many patients are waiting to be seen, and which patients are currently waiting in an exam room.

EHR Apple Watch - Kareo

I’d like to see this in action and look forward to doing so the next time I see Kareo (possibly not until MGMA), but the features have some promise. I could see them being used pretty regularly. Especially the status updates on how many patients are checked in and how many are waiting. That’s really great information that is changing constantly throughout the day. The schedule for the day is great as well.

Kareo had previously announced some features for Google Glass. I liked that they were pushing the envelope, but it didn’t feel like something that doctors would grab onto. I think this Apple Watch implementation has a lot more legs to it. I’ll be interested to hear from Kareo doctors how it works in actual practice.

Full Disclosure: Kareo is a sponsor of one of the Healthcare Scene blogs.

Posted in Apple, Health Care, Healthcare IT, mHealth, Mobile Health Care, Smart Watch, Wearables | Tagged , , | Comments Off

The Hospital With No EMR

This weekend, feeling a bit too ill to wait to see my PCP, I took myself to a community hospital in my neighborhood. For various reasons, I went to a hospital I don’t usually visit, one about 10 miles away from my home.

When I entered the emergency department lobby, nothing seemed amiss.

In fact, the light-filled, pleasantly-constructed waiting room was comfortable and modern, the staff seemed bright and knowledegeable, and the triage nurse saw me promptly.

But I got something of a surprise when I checked in with the triage nurse during my initial assessment. Noting that she had not taken my medication history, I told the nurse that I assumed someone would be entering it into their EMR later.

“We don’t have an EMR,” said the kind and sympathetic triage nurse apologetically. “Everything is still on paper. We might have an EMR in a year or so, but we’re not even sure about that.”

As it later turned out, she was mistaken. The hospital did indeed have an EMR in place, one by MEDITECH, but had put all new upgrades on hold, leaving the clinical staff to do almost all documentation on paper.  Regardless, the staff didn’t have access to the higher capabilities of an EMR, and that’s the message that the triage nurse had gotten. (And no one ever did take my list of medications.)

Now, it’s not necessarily the case that this hospital had no grasp of its data. In fact, to my surprise, the front desk was able to tell me that I had been seen there in 2002, something of which I had no memory.

But it’s hard to imagine that the very long wait I endured, which took place in the attractive lobby of a quiet, prosperous suburban hospital, was not due in part to the hospital’s lack of automation. It should be noted that within the next several months to a year, the chain to which the hospital belonged expects to bring the hospital I visited onto its Epic platform. But again, the staff was stumbling around in the dark, comparatively speaking, the day I visited the ED.

Now, hospitals survived on paper documentation for many years, and there’s no reason to think this one won’t survive for a year or so using paper charts. What’s more, it may very well be that the real problem this hospital faced had to do with patient mix and staffing concerns. I did note that many of the patients coming in seemed to be seeking weekend primary care, for which the hospital may not have been as prepared as it should have been.

That being said, an EMR is not just a clinical tool. Put coldly, it’s an instrument of industrial automation which can keep patients moving through the assessment and discharge process more quickly and effectively.

I’m not saying the facility needs to have a fully-launched marquee EMR just to impress patients like myself. In fact, postponing expanding the Epic EMR for a while may be a great financial decision, and from an IT standpoint, better to roll the Epic system out at a sustainable pace than throw it at an unprepared workforce.

But watching nurses and doctors record details on endless sheets of paper, and struggle to track down paper charts for acutely ill patients, was a harsh reminder of what the industry has left behind.

Posted in Community Hospitals, EMR Financing, EMR ROI, Healthcare CIO, Healthcare Leadership, Hospital CIO, Hospital EHR, Hospital Electronic Health Record, Hospital Electronic Medical Record, Hospital EMR, Hospital Healthcare IT, Hospital Patient Flow | Tagged , , | Comments Off

Kareo Announces Apple Watch App To Improve Medical Practice Efficiency

Helps physicians streamline care delivery with appointment reminders, scheduling updates, and secure messaging

Irvine, CA – May 19, 2015Kareo, the leading provider of cloud-based medical office software for independent medical practices, today announced the launch of its Apple Watch App. Kareo’s most recent innovation extends the functionality of the company’s EHR to Apple Watch, streamlining care delivery and enhancing the patient experience by improving communications, reducing patient wait times, and increasing practice efficiency.

Kareo is launching this new Apple Watch App in response to the growing demands on physicians to increase their focus on all aspects of patient engagement. “Physicians are on their feet attending to the needs of patients for the majority of the day, leaving little time to check their schedules and prepare for the next appointment,” said Dr. Tom Giannulli, CMIO of Kareo. “Recognizing this demanding care delivery environment, Kareo’s Apple Watch App will help doctors better manage their schedule while enabling enhanced communication throughout the day, improving their ability to deliver a great patient experience.”

Kareo’s Apple Watch App provides the most relevant, practice-oriented information necessary to improve care and increase practice efficiency. Key functionalities of the App include:

  • Secure messaging that allows the user to send, reply, and read messages via dictation. Messages can be sent to staff or patients using Kareo’s secure messaging system, improving overall patient engagement and practice communication.
  • An agenda that allows the provider to quickly reference their schedule and see the status of appointments checked-in, no show, late, checked out, etc., helping reduce wait times and improve practice efficiency.
  • Appointment reminders that can be sent five minutes before the next scheduled appointment. The notification subtly vibrates the watch, indicating that the doctor has an impending appointment.
  • Appointment information that is accessible within a notification or through the agenda, allowing the provider to review details such as the patient’s name, time of appointment, visit type, and reason for the visit.
  • “I’m Running Late” pre-set messages that allow the doctor inform other staff members when they are running behind and how much longer they expect to be. This improves practice communication and enables the front desk to give patients a more accurate wait time estimate.
  • Apple “Glances” that provide a quick overview of key practice metrics, including how many patients are scheduled throughout the day, how many patients are waiting to be seen, and which patients are currently waiting in an exam room.

All features of Kareo’s Apple Watch App are HIPAA compliant and secure, ensuring all data are private, yet easily accessible.

“Independent physicians need new tools to grow strong, patient-centered practices, and Kareo’s Apple Watch App is another example of Kareo’s focus on helping physicians leverage innovative technology to drive their success,” said Dan Rodrigues, founder and CEO of Kareo. “With key practice and patient information accessible on their wrists, physicians are able to discreetly and efficiently provide updates to staff while staying focused on what matters most – the patient.”

Kareo’s Apple Watch App will be available for download on the Apple Watch App Store at the end of May. For further information regarding Kareo’s Apple Watch App, please visit Kareo’s mobile EHR page.

###

About Kareo

Kareo is the only cloud-based medical office software and services platform purpose-built for small practices. At Kareo, we believe that, with the right tools and support, small practices can do big things. We offer an integrated solution of products and services designed to help physicians get paid faster, find new patients, run their business smarter, and provide better care. Our practice management software, medical billing solution, practice marketing tools and free, award-winning fully certified EHR help more than 30,000 medical providers more efficiently manage the business and clinical sides of their practice. Kareo has received extensive industry recognition, including the Deloitte Technology Fast 500, Inc. 500/5000, Red Herring Top 100 Company, and Black Book #1 Integrated EHR, Practice Management and Billing Vendor. Headquartered in Irvine, California, the Kareo mission is to help providers spend their time focused on patients, not paperwork. For more information, visit www.kareo.com.

Posted in Digital Health, EHR, EHR Vendors, Electronic Health Record, Electronic Medical Record, EMR, Healthcare, Healthcare IT, Healthcare IT Vendor, mHealth, Mobile Health | Tagged , , | Comments Off

What If Doctors Owned Part of Hospital EMRs?

After this many years of widespread use, you’d think that physicians would have accepted that EMRs are an inevitable part of practicing medicine — and at least sometimes, a useful tool that helps doctors manage their panel of patients more effectively.  But it seems some hospital administrators have concluded that a significant percentage of doctors loathe EMRs.

I draw this conclusion not from casual conversation with physicians, but from a hospital recruiting advertisement quoted in The New York Times.  The advertisement, which was attempting to attract doctors to a facility in Phoenix, closed its glowing description of state-of-the-art equipment and an attractive location with a single provocative line, all in bold: “No E.M.R.s.”

While EMRs are getting long in the tooth these days, they haven’t won over many doctors. As physician Robert Wachter notes in his NYT piece on the subject, a 2013 RAND survey found physicians most unhappy with EMRs, citing “poor usability, time-consuming data entry, needless alerts and poor work flows.”

I think it’s pretty obvious why EMRs continue to stay user-hostile. While doctors are the end users of  EMRs, hospital IT leaders and other CXOs make the final buying decisions. And he (or she) who writes the check makes the rules.

In theory, it’s strongly in hospital management’s interests to force EMR vendors to clean up their usability act.  After all, not only do hospital leaders want their EMRs used effectively, they want the data to be robust enough to be usable for value-based care delivery. But the truth is that hospital leaders are nowhere near demanding enough of EMR vendors. And because they’re the ones writing the checks, doctors get stuck with the ugly results.

But what if there was a way to involve both doctors and hospitals financially, as partners, in buying EMRs?  Not being the world’s greatest finance wizard, I don’t know how a hospital and a group of physicians could structure a deal that would allow them to jointly own the hospital’s EMR system. And I’m aware, though I don’t know how they would be addressed, that there could be significant legal issues to be resolved if the hospital was a not-for-profit entity.

But at least in theory, if doctors were paying for a percentage of the EMR, they’d have a lot more say as to what level of usability they’d demand, what features were most important to them, and what price they’d be willing to pay for the system. In other words, if doctors had skin in the game, it would put a great deal of pressure on vendors to make EMRs doctors actually liked.

Now, I realize that doctors might have no interest in buying into a technology which has let them down again and again. But there’s a chance that more visionary and tech-friendly physicians might grab the chance to have a substantial say in the EMR-buying process. The idea is worth a look.

Posted in EMR Financing, Healthcare CIO, Hospital CFO, Hospital CIO, Hospital EHR, Hospital EHR Company, Hospital EHR Vendor, Hospital Electronic Health Record, Hospital Electronic Medical Record, Hospital EMR, Hospital Healthcare IT, Hospital IT Systems | Tagged , , , | Comments Off