Market Data Analysis (HEALTHCARE ESSAY)

Healthcare Market Data Supporting EHR

            In a national survey of medical professionals, 94% of the participants indicated that EHR is effective in making health records readily available, 88% stated that technology produces clinical benefits (HealthIT.gov, 2019). Also, 75% cited that the EHR system enables them to deliver advanced patient care. One of the community hospitals that adopted an EHR system reported the following outcomes: billable benefits of $26 per customer, above $100,000 revenue increase for two years, improved clinical efficiency in the facility, 60% drop in near-miss treatment events, and 25% reduction in patient charts needed for orders’ signing (Bell & Thornton, 2011). Duffy et al., (2010) concluded that EHR increases patient satisfaction as follows: 92% of patients were satisfied that their physicians used e-prescription, 75% cited that accessing medication was easier, and 63% reported reduced medical mistakes. A plethora of research findings supports the efficiency and effectiveness of the EHR systems when applied in healthcare settings. From overall physician and client satisfaction to increased revenue for hospitals, EHR helps healthcare professionals in making informed decisions that generate benefits for the hospital and enhance value creations for the customers. (HEALTHCARE ESSAY)

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Where to Obtain Data and Integration

            Data is important to support the implementation of EHR and can be obtained from range of sources. The WHO, American Hospital Directory, Agency for Healthcare Research and Quality, the U.S. Department of Health and Human Services, Health Forum are some of the resources that provide trustworthy statistics on the healthcare industry. The information obtained from these sources is empirical and reliable, and it may be utilized to support perspectives and health actions. Nevertheless, for all perspectives to be properly integrated, they must be broken down. When data is not well integrated, it provides limited value, and simplifying vast volumes of information from many perspectives may be difficult. The integration of data from different sources in the healthcare system enables clinicians to understand their patients’ electronic health records, and it is simple to communicate such data when it has been acquired and improved. With the use of cloud-based tools, it is possible to simply and improve data integration efficiency from a range of sources (Tian et al, 2011). Usage of cloud-based infrastructure and data standardization from multiple sources is an essential step towards the right direction of healthcare data integration.

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