In 2016, national healthcare spending reached $3.4 trillion, averaging out to more than $10,000 per person. This number is expected to reach $5.5 trillion by 2025, according to the Centers for Medicare and Medicaid Services (CMS). An increase in healthcare spending is a strong incentive for providers to deliver low-cost, quality care, as lowering costs would allow facilities to increase net revenue. Industry experts say Electronic Health Record (EHR) systems are at the forefront of lowering provider care costs while improving patient outcomes.
More than 93 percent of U.S. hospitals report using an inpatient EHR system, according to Definitive Healthcare data. The widespread adoption of EHRs has been credited to the CMS Meaningful Use initiative, which was launched in 2011. Meaningful Use was implemented with the goal of improving data gathering and sharing between providers, leading to more connected care for patients and better clinical quality outcomes. Naturally, better care outcomes lead to decreased readmission rates and lower total care costs—benefitting both patients and providers.
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