Financial impact of clinical data extraction software

Only meeting the minimum MU2 core measure for labs compromises clinical decisions costing $317,178 per bed each year.

Meaningful Use Stage II core measure for lab results requires that lab values are captured in structured EHR data fields for only 55% of results.  That means as many as 45% of decisions informed by test results that aren’t easily accessible or trendabale -- driving up the cost of care and compromising care quality.

Although, diagnostic tests account for only 3–5% of annual healthcare spending, the true costs should include all of the downstream activities that test results impact – a whopping $317,000 per bed  annually.

Until now, capturing the remaining results required either large investments in interfaces or burdening staff with slow and error-prone data entry.

Intelligent clinical data extraction software is changing the economics of incorporating unstructured clinical data into clinical decision-making and research.

Watch this on-demand webinar, to learn how University of Wisconsin Health is using intelligent clinical data extraction software to manage unstructured outside lab results more efficiently.

About the Author: Greg Gies

For 20 years in the software industry, Greg Gies has been helping businesses, government agencies and healthcare organizations achieve their goals and carry out their missions by making better use of information and automating business processes. Greg has held positions in sales, product management and marketing and holds an MBA from Babson College. He works and lives with his wife and three boys in the Boston area.