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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Running Head: ELECRONIC MEDICAID RECORD

Electronic Medical Record
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ELECRONIC MEDICAID RECORD

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Electronic Medical Record
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.
An electronic medical record (EMRs) is an electronic health information system that
collects and stores patient's health data. EMRs play a fundamental role in replacing paper record
keeping/charting. The primary goal of the EMR sy...


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