Over 200 healthcare executives reveal how they will fare after the incentive dollars are depleted in their journey to attain Meaningful Use
WEYMOUTH, Mass.--(BUSINESS WIRE)-- As the first deadline of July 2011 approaches for healthcare organizations to achieve Meaningful Use in order to obtain maximum ARRA incentive dollars, Beacon Partners today announced the results of their “ARRA Preparedness and Sustainability” study. Beacon Partners recently contacted healthcare executives nationwide to determine the status of how well these organizations are faring in their journey.
“Right now there is a lot of emphasis on getting as much ARRA incentive money as possible. Healthcare organizations are under a lot of pressure as such, but what about down the road when that money is no longer a factor?” said Ralph P. Fargnoli, Jr., president and CEO of Beacon Partners. “The results of this study provide a good glimpse as to how well healthcare organizations are preparing for the long-term sustainability of their investments after the ARRA incentive dollars are gone.”
Among the findings of Beacon Partners “ARRA Preparedness and Sustainability” study, it was found that:
- 45% of respondents have not applied for any federal or local grants, which is a viable way in which to ignite the process of initiating Health Information Exchanges (HIEs) to attain Meaningful Use.
- In a step towards sustaining their overall IT investment, the majority of healthcare organizations have built IT expenditures into their financial plans for the coming years to help support patient care, clinical quality and safety as part of their annual spending, tactical planning and strategic multi-year plans.
- Most healthcare organizations (over 80%) will either maintain or increase their IT investments if they are awarded the Meaningful Use incentive payments.
- Only 15% of respondents have operational HIEs. Nearly 60% of the respondents have HIE plans in development and another 20+% are in the pre-planning stages.
- More than 40% of respondents have plans to enhance their physician and patient portals, which are crucial to the development of a sound and secure infrastructure at any healthcare organization.
- In their efforts to achieve Meaningful Use, “quality reporting” is the biggest concern amongst 73% of respondents.
Click here to view the executive summary and full survey results.
About Beacon Partners
As the largest independent healthcare management consulting firm in the country, Beacon Partners is chosen by organizations in the healthcare community to provide expertise in the adoption of information technology to improve overall operational and financial performance. With their strategic approach and depth of experience, Beacon Partners is uniquely qualified to help organizations navigate the challenges in healthcare and optimize their potential to deliver the highest possible level of patient care. This proven approach allows healthcare organizations to maximize their Enterprise Yield™ – the alignment of people, processes and technologies – with the important understanding that success depends on the ability to adapt quickly to issues pertaining to clinical transformation, revenue cycle management, interoperability, workflow optimization, EHR implementation and more. As the HITECH portion of the American Recovery and Reinvestment Act (ARRA) of 2009 becomes a priority to healthcare organizations, Beacon Partners’ ARRA expertise helps organizations develop a roadmap that will lead to “meaningful user” status and maximize available incentives. For more information, please visit http://www.beaconpartners.com
For Beacon Partners
Tracy Hartman, 978-462-0002 x103
KEYWORDS: United States North America Massachusetts
INDUSTRY KEYWORDS: Technology Data Management Practice Management Health Hospitals Radiology Nursing