While advances in information and communication technology have given the world a lot to marvel at, the ability to digitize 2,300 to 10,800 exabytes of health records is among the top.
In today’s fast-paced business landscape, digitized healthcare records are a game-changer…and we don’t use this term lightly. By offering unparalleled efficiency, accuracy, and security, the digitization of healthcare records offers numerous advantages over manual records. By transitioning from cumbersome paper files to streamlined electronic systems, healthcare providers can access patient information instantly, facilitate seamless communication, and ensure data integrity. This transformation not only enhances patient care and reduces administrative burdens but also drives innovation and cost savings.
Navigating Privacy, Interoperability, and Compliance with EHRs
Other than the obvious and straightforward benefits, digitizing healthcare records also presents advanced considerations regarding patient privacy, interoperability, and regulatory compliance. Here’s a closer look at these aspects:
Patient Privacy
Did you know that According to the United States Department of Health and Human Services (HHS), an estimated 2 million Americans with mental illness did not seek treatment specifically due to privacy concerns?
Between 2020 and 2025, the total amount of global healthcare data is projected to grow from 2,300 to 10,800 exabytes, at an annual growth rate of 36%, making it faster than all other industries like manufacturing, financial services, media and entertainment. Additionally, healthcare is the most expensive industry for responding to and recovering from data breaches, a rank it has held since 2011, based on a report by IBM and the Ponemon Institute. In 2023 and 2024, the average cost for a breach in the industry was $10.9 million and $9.8 million respectively!
The shift to digital record keeping, accompanied by more accurate tracking of electronic devices play a huge role in reducing these data breaches. Every access or modification can be logged in digital records, creating a detailed audit trail. Moreover, digital records can be encrypted, access-controlled, and monitored to protect sensitive information.
Manual records, while less susceptible to hacking, can be easily lost, stolen, or damaged. Additionally, physical access to manual records is harder to track and control compared to digital logs. With EHRs, 84% of individuals are confident their medical records are safe from unauthorized viewing compared to about a decade ago.
Interoperability
The seamless exchange of interoperable health information between disparate organizations across the healthcare spectrum is critical to ensure clinicians have access to the most relevant patient health information while making healthcare decisions. Manual records need to be transferred physically, a process that tends to be slow and inefficient. Additionally, the lack of standardization in manual records can lead to misinterpretation or loss of critical information during transfers.
EHR Interoperability enables better workflows and reduces ambiguity, promoting seamless electronic information exchange between hospitals and other providers across the care continuum. Plus, the use of standardized formats like HL7 and FHIR facilitates consistent and accurate data exchange. Felix’s Document Digitzation Solution enables analytics and seamless integration with other systems for comprehensive insights. Ultimately, this improves the delivery of health care by making the right data available at the right time to the right people.
According to AHA’s Annual Survey Information Technology Supplement, hospitals increased routine engagement in all four interoperable exchange domains (send, find, receive, and integrate) from 2018 to 2023. The percentage of hospitals that routinely engaged in interoperable exchange increased by 54% since 2018 with 70% of non-federal acute care hospitals doing so routinely or sometimes in 2023.
Regulatory Compliance
In the healthcare ecosystem, compliance is a cornerstone of patient safety, data security, and regulatory adherence. With the regulatory landscape continuously changing and becoming more strict, the industry is seeing a shift towards electronic records to keep up with the complex web of compliance procedures. Today, there are more than 600 regulatory requirements that healthcare organizations must comply with! According to a recent report, $39 billion is spent annually by the healthcare industry on the administrative burdens of regulatory compliance.
Digital systems are designed to automatically comply with regulations like HIPAA and GDPR, and make it easier to conduct audits and ensure compliance with regulations. On the other hand, maintaining compliance and auditing records manually require diligent human effort, which can be error-prone and labour-intensive. Manual record keeping and data entry also limits transparency in healthcare compliance.
By harnessing today’s AI technology and having electronic access to Safety Data Sheets (SDSs), company policies, safety plans, and more, compliance professionals can meet regulatory standards with greater efficiency and speed. Felix’s Document Digitization Solution allows organizations to achieve unmatched accuracy with its AI engine processing a high volume of documents per day, adhering to data compliance and rules.
As of 2021, 9 in 10 (88%) of U.S. office-based physicians adopted any electronic health record (EHR), and nearly 4 in 5 (78%) adopted a certified EHR. Manual records, while simpler and less vulnerable to cyber threats, fall short in terms of patient privacy, scalability, and compliance ease. Digitalized healthcare records offer superior capabilities in terms of security, data sharing, and compliance with regulatory standards.
Felix’s AI-based Document Digitization tool enables organizations across industries to efficiently capture data from documents, allowing seamless integration into core systems for enhanced operational efficiency while adhering to data compliance and rules.
Embracing digital records is no longer optional; it’s a strategic imperative for staying competitive and delivering exceptional healthcare services in the digital age.