Although there is cash to be had (and lost) for not meeting these new EMR standards, nearly 15% of respondents were still thinking about delaying their EMR initiatives or computerized physician-order entry systems.
“I’m shocked that people believe they can delay this, and I’m wondering if these folks have facilities that are in dire financial straits,” says LaBonte. “Clinically, with all that’s now being measured in terms of quality and patient satisfaction and how it will impact reimbursements, you really have to do this just to keep up.”
Quality initiatives have truly taken hold at hospitals, too. More than 52% of healthcare leaders ranked improvement on the quality of care as their main reason for allocating a capital expense. Interestingly, though the survey’s respondents included CEOs and CFOs, return on investment for planned capital expenditures was the last consideration of three priorities listed (quality of care, replacement need, and return on investment).
“Healthcare is a service industry, so ROI is often just not talked about. We forget that we are a business and we get caught in the trap of not looking at the ROI. We need to use this more as part of the decision-making and prioritization process,” concludes LaBonte.