Monday, June 24, 2013

IT/EMRs Investment Priority For Hospitals

Healthcare providers of every size are investing in IT.

A HealthLeaders Media Capital Funding Buzz Survey (11/12) found "68% of respondents indicated healthcare information systems (including EMR) and IT infrastructure will be a top-three priority for capital investments in the next 12–18 months, surpassing the No. 2 priority (upgrading existing facilities) by 21 percentage points."

Most healthcare providers believe enhancing collection and use of patient data is the best strategy for better care delivery.

""We'll spend $61 million implementing a new computer system—electronic medical record—it's our biggest single expenditure," says John Heye, senior vice president for finance and CFO at Maine Medical Center, a 600-bed hospital in Portland. ."
- John Heye, SVP Finance and CFO at Maine Medical Center, a 600-bed hospital in Portland
Partners HealthCare, a $9 billion healthcare organization in Boston is developing and implementing an EMR that may take 10 years to complete and cost $600–$700 million. Peter Markell, Partner's CFO, says "Having a focus on population health management, data access, and network development has become critical to meeting the needs of patients at the right site at the right time."
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Sources:
(a) Why Putting Capital Into EMR is a Smart Move - www.HealthLeadersMedia.com, 06/11/2013

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