How much are paper records costing your organization?
Healthcare spending in the US continues to grow, reaching nearly $3 trillion in 2014 alone. While many organizations – public, private, and federal – are exploring strategies to address this growth on a national level, there remain many well-established opportunities to cut costs available to individual providers and health systems.
Perhaps the most well known – and most effective – is the significant reduction in costly administrative inefficiencies available to those abandoning paper records and manual transactions for health IT products such as electronic health records (EHRs), revenue cycle management (RCMs), and enterprise resource planning (ERPs).
These opportunities will only increase in significance in the near future, as the LTACH industry dramatically changes with the implementation Pathway for SGR Reform Act of 2013. In order to maintain – and, indeed, improve – quality care, LTACHs must critically examine the debilitating costs of paper records and invest in a flexible electronic health platform designed to help cut costs, improve payment processes, and prepare for tomorrow.