What the benefit of EMR from insurer point of view

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The cost of adopting electronic medical records has been shown to be prohibitively high for
single-physician and small rural group practices. Discuss the benefits-from the insurer?s
perspective ?of assisting these providers to adopt this technology.
Electronic medical records (EMRs) is an electronic health information system that
collects and stores patient?s health data. EMRs replace paper record keeping/charting. The
primary goal of the EMR system is to improve the overall health of society and reduce healthcare
cost. In the U.S., trillions of dollars are spent annually into healthcare cost alone. Considering
Medicare and Medicaid is one of the largest insurer in the U.S., the government wanted to
increase system-wide utilization by offering financial incentive to providers. The government
specifically offered financial incentives for Medicare and Medicaid providers through the Health
Information Technology for Economic and Clinical Health (HITECH) Act of 2009 which was
endorsed as part of the American Recovery and Reinvestment Act. HITECH Act was signed
into law on February 17, 2009, to promote the adoption and meaningful use of health
information technology. As of November 2017, the Centers for Medicare and Medicaid Service
(CMS) has paid more than $24 billion in financial incentives to more than 541,700 Medicare and
Medicaid providers for participating in the EMR implementation (CMS.gov, 2018).
There are several of benefits for insurers to motivate providers participate in EMRs.
However, the main benefit of EMR for insurer is the ability to reduce and control cost. The
insurers anticipate as more providers use EMR, the system should begin to provide more
comprehensive benefits. The insurers believe EMR will provide the foundational data needed to
build and develop valuable analyses that could change health care delivery. As noted in the text,
Health insurers value health information because they can set premium rate, estimate risk,
control major costs and foresee potential loss more accurately. (Paterson, 2014). Furthermore,
the insurer will have the ability to track trends to identify potential and/or prevent disease
outbreaks, eliminate insurance fraud, reduce medical error, identify most effective treatments at
lower cost or identify the best treatments at ?right? cost point. Lastly the EMR will provide
insurer patient’s data electronically in a standardized form which make it easy to transfer data
among providers, insurers, and researcher.
Reference:
Center for Medicare & Medicaid Services (2018). EHR incentive program. Retrieve
from:https://www.cms.gov/Regulations-andGuidance/Legislation/EHRIncentivePrograms/ DataAndReports.html
Paterson, M. A. (2014). Healthcare Finance and Financial Management: Essentials for
Advanced Practice Nurses and Interdisciplinary Care Teams. DEStech Publications, Inc.

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