Physician Spending on Health Information Technology Continues to Soar
Physician costs on health IT increased by 40% between 2009 and 2015 and are expected to continue increasing.
HealthDay News -- According to an article in Medical Economics, physicians are spending more than $32,000 per year on health information technology (IT).
Results from the Medical Group Management Association (MGMA) survey suggest that medical groups spend more than $32,500 per year for every full-time doctor in their practice. Multi-site practices incur additional costs for salaries of IT support staff and equipment, maintenance and supplies.
Between 2009 and 2015, costs for IT increased by 40%, with the biggest increases seen in 2010 and 2011. Costs can be expected to continue increasing at considerable rates. IT plays a crucial role in helping health care organizations to evolve in order to provide higher quality and value-based care.
Physicians are looking to use technology to improve practice management and to avoid government meaningful use penalties. Frustrations with technology, including decreased productivity that accompanies the adoption of electronic health records, further increases the associated costs.
"Look at the opportunities to streamline your revenue cycle, such as through electronic funds transfer and insurance eligibility verification," said Rob Tennant, MGMA's health information technology policy director, according to the article. "If you're spending the money, make sure that the system is meeting your practice's needs."
"Doctors Spending Over $32,000 On Health Information Technology". Medical Economics. Updated September 28, 2016. Available at: http://medicaleconomics.modernmedicine.com /medical-economics/news/doctors-spending-over-32000-health-information-technology. Accessed October 4, 2016.