U.S. healthcare organizations spent an estimated $7.1 billion on IT last year, according to a new study by Healthcare Growth Partners (HGP)—more than two and a half times what it was just five years ago.
HGP’s report evaluates merger and acquisition activity, as well as investment trends, valuation multiples and capital markets activity across the health IT, health information services and digital health sectors. As reported by Becker’s Hospital Review, activity around electronic health records (EHRs) far outpaced every other area. There were 110 deals in the EHR sector, followed by 59 in revenue cycle management tech and 51 in population health.
With such a focus on the almighty EHR, healthcare industry leaders are looking for clear signs of a return on investment.
New data from the Office of the National Coordinator for Health Information Technology (ONC) shows that 94 percent of U.S. hospitals use data from EHRs to inform clinical practice, up from 87 percent in 2015. EHR data was used 82 percent of the time to support quality improvement, 81 percent of the time to monitor patient safety, and 77 percent of the time to measure the organization’s performance.
Interoperability was also emphasized in the ONC study, which noted that hospitals with the capability to send, find, receive, and integrate data from outside organizations were twice as likely to use their EHR data.
At Crouse Hospital, a nationally recognized cardiac care center, in Syracuse, N.Y., adopting a cardiovascular information system (CVIS) from LUMEDX—including registry software, structured reporting, and analytics—solved the problem of incomplete integration.
Read this case study to learn how Crouse has used a CVIS that complements its EHR to streamline clinical workflows and improve quality.