Health IT could improve hospital (and patient) finances

Smart investments in clinical IT could pay big dividends for hospitals, but may benefit patients more than the facilities themselves over the short term, according to a new report from the Healthcare Financial Management Association. According to the report, which was co-sponsored by GE Healthcare Financial Services, hospitals may allocate as much as 30 percent of total capital investment budgets to IT. Of late, hot investment areas include EMRs, telemedicine, CPOE, IT-integrated medical devices and robotics. Such investments could very well have an influence on a hospital's overall position, researchers said. However, the benefits of such investments, including reductions in the rate of repeat tests and readmissions, will be enjoyed by consumers as much as if not more than hospitals, researchers said.
To get an in-depth look at the HFMA's conclusions:
- read this Health Data Management piece
- read the report