Growth Areas And Changes To Watch For In The Health IT Market In 2014

According to a new Research and Markets’ report entitled: North American Healthcare IT Market Report 2013-2017, the health IT market of North America is going to grow at a compound rate of 7.4 percent to reach $31.3 billion by 2017 from $21.9 billion in 2012. https://i1.wp.com/cdn2.hubspot.net/hub/215468/file-397288998-png/Blog_Images/north_american_health_it_growth.pngThe main factors driving this growth include higher demand for clinical information technology, and administrative solutions and services.

The report segments the market on the basis of applications, delivery modes, and components. Based on application, the North American healthcare information technology is segmented into provider (clinical information technology and non-clinical information technology) and payer, while the market by delivery mode is further categorized as on-premises, Web-based, and cloud-based. The healthcare information technology by component is made up of hardware, software and services. [@HealthITplus] Continue reading

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Top 5 Issues Facing Doctors In 2014

The Physician Foundation released its Physicians Watch List highlighting the five biggest issues facing doctors in 2014. Here’s brief information about the list:

  1. Consolidation leading to monopolization. Consolidation concerns made last year’s list, but this year, those worries about more and more doctors joining larger and larger health systems have morphed into anxiety about eroding competition.
  2. Continuing growth of regulatory burdens. Nonclinical paperwork already takes up a lot of physicians’ time, but with the deadline for ICD-10 implementation looming, even more time for administrative paperwork will be required of doctors.
  3. Confusion. Many private practice physicians have not been educated on how the new health insurance exchanges work and so are unsure how to explain them to their patients. Their own lack of understanding has led them to be worried about whether their reimbursement rates will be less in the exchanges; whether they will be able to control the number of exchange-based patients they will have to take on; and the potential difficulties of collecting out-of-pocket charges from these patients.
  4. Health information technology. Doctors are frustrated by the lack of interoperability between electronic health systems and are worried about how HIT will impact how they practice and protecting the privacy and security of patient information.
  5. Stalemates. Doctors, too, are frustrated by the seeming inability of Congress to operate. Particular worries associated with lawmaker decisions include the continued struggle to repeal the sustainable growth rate and what will happen if the 24 percent cut scheduled for the start of 2014 is triggered; ongoing deadlock on tort reform; and worries about the fate of Medicare and Medicaid reimbursements in federal budget talks.

Source: Healthcare Finance News

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Hospital Outsourcing: How Is It Stacking Up?

https://i1.wp.com/triplehelixblog.com/wp-content/uploads/2011/09/medical-tourism-1.jpegAccording to Becker’s Hospital Review, hospitals have increasingly been reducing costs to combat Medicare cuts and healthcare reform. [twitter.com/HealthITplus]

The trend of hospital outsourcing is on the rise but experts believe this trend will not persist in the long-run. Adam Higman, Vice President, at Soyring Consulting comments, “The driver is the cuts in reimbursement. [Hospitals] know they have to be more efficient and have to save money. That’s helping drive [outsourcing] decisions.”

Hospitals have been assessing options in outsourcing their various functions such as IT and clinical services. The article: Healthcare IT Outsourcing Demands Are On The Rise, states that the healthcare IT outsourcing segment is witnessing continued growth and is forecasted to grow at a compound annual growth rate of 7.6 percent, to reach $50.4 billion by 2018 from $35 billion in 2013. Continue reading

HealthIT Transition, How it Happened [Infographic]

In 2009, the Health Information Technology for Economic and Clinical Health (HITECH) Act, a part of the Recovery Act, created the Medicare and Medicaid Electronic Health Records (EHR) Incentive Programs to promote the adoption of EHRs in support of the ultimate goals of improving the quality of patient care and reducing health costs. Through this program, eligible hospitals and doctors earn incentives by demonstrating “meaningful use” of certified technology, which means that health care providers use EHRs in ways that improve care and lower costs. Examples of “meaningful use” include electronic prescribing of medications and ensuring patients have access to their digital records.

 The following infographic created by the ONC illustrates the progress made in the nation’s transition to health IT since the passage of the HITECH Act in 2009. [twitter.com/healthitplus]

Why EMRs Are Crucial To Patient Satisfaction

EMRs play a crucial role when it comes to keeping patients happy and satisfied, a new study suggests.

https://healthitplus.files.wordpress.com/2013/09/5c9b5-ehrl.jpgAccording to a study conducted by Aeffect and 88 Brand Partners, more and more patients are logging in to check their medical records and like it. Data suggests that about 24 percent of patients log into their EMR to receive test results, order medication refills and to book appointments with their physician. Also, 78 percent of those patients reported being more satisfied with their doctors in comparison to 68 percent of those who had not used EMRs.

The growing portion of provider’s reimbursement is driven by patient satisfaction, which is why it becoming a top priority for healthcare providers. But for a lot of hospitals, the issue still persists. Their patient satisfaction survey results make up 30 percent of their quality score in Medicare’s “value-based purchasing” program, part of the Affordable Care Act. Continue reading

KMG HealthIT+ August 2013 Issue is out

Read the latest healthcare related stories from last month in HealthIT+ August 2013 Issue.

  1. Physicians Continue to say Yes to EHR Adoption
  2. Patients Turning to mHealth instead of Prescriptions
  3. EHRs and Meaningful Use Transforming Patient Care
  4. Clinical Mobility Market Growing Strong

Read more: http://bit.ly/13XwOrW

 

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Physicians Continue say Yes to EHR Adoption

According to a recent report submitted to the Congress, an ever increasing amount of physicians are embracing (and agreeing to adopt) electronic health records (EHRs) into workplaces. Along with EHRs, physicians are also looking for newer, more sophisticated ways to interact and stay connected with their patients even when they are away from their workplaces.

https://i2.wp.com/healthcareittoday.com/wp-content/uploads/2010/07/meaningful-use-101.gifCompared to only 48 percent in 2009, in 2012, more than 72 percent of physicians used electronic health records and the count seems to be growing rapidly. Physicians are going forward and demanding increased EHR functionality, with 80 percent having EHRs with computerized provider order entry for medication orders in 2012, compared to 65 percent in 2011, and 67 percent having EHRs with drug interaction checks, compared to 51 percent in 2011. Continue reading

Health IT usage more than doubles since 2012

More than half of America’s doctors have adopted electronic health record.

HHS Secretary Kathleen Sebelius today announced that more than half of all doctors and other eligible providers have received Medicare or Medicaid incentive payments for adopting or meaningfully using electronic health records (EHRs).

HHS has met and exceeded its goal for 50 percent of doctor offices and 80 percent of eligible hospitals to have EHRs by the end of 2013.

Since the Obama administration started encouraging providers to adopt EHRs, usage has increased dramatically. Continue reading

Improvements in Healthcare IT can lead to $26 billion in savings annually

Healthcare administration is a growing issue in United States of America with an estimated $361 billion spent to cover administrative charges annually, according https://i2.wp.com/a57.foxnews.com/global.fbnstatic.com/static/managed/img/660/371/healthcare_savings.jpgto the Center for American Progress. The healthcare expenditure in U.S alone makes up for 14 percent of total healthcare expenditure worldwide. In order to reduce these costs, healthcare IT solutions can play a huge role. Through improvements in IT in the current health delivery methods, the industry can expect to significantly cut down costs.

Continue reading

Engaging patients through mobile technology

Building better mobile apps for better patient engagement

In the new healthcare economic environment, patient engagement is predicted to be alike for both providers and payers. One of the keys to attain high level of engagement among patients is connecting them through mobile technology.

Today, mobile technology is ubiquitous. Functions like medical management, remote patient monitoring, more bridged communication between care providers and patients can exponentially increase the consumer Health IT experience. Continue reading