A growing number of providers and health plans surveyed by the eHealth Initiative report a positive return on their healthcare exchange investments, according to eHi's fifth annual survey, released Thursday.
Seventy-one percent of the health information exchanges surveyed said they no longer depend on federal funding. Hospitals topped the list of backers, with 48 percent of non-federal funded HIEs reporting hospitals as their main funding source, according to Janet Marchibroda, eHi's chief executive officer.
For the first time in an eHi survey, a majority (69 percent) of respondents reported a positive financial return on their investment for participating stakeholders, including health plans, hospitals, laboratories and physician practices. In 2007, 31 percent reported a positive ROI.
The electronic exchange of health information between physicians, hospitals, health plans and patients is decreasing the cost of care and improving outcomes, the survey found. The reported savings came through elimination of redundant tests, fewer hospital stays for medication errors, decreased costs of caring for chronically ill patients and reduced staff time spent on administration, those surveyed reported.
eHi's "Fifth Annual Survey of Health Information Exchange at the State and Local Levels," which included responses from 130 community-based initiatives in 48 states, showed the significant impact that fully operational initiatives are having on improving health care delivery and efficiency, officials said.
Marchibroda said the survey shows a direct link between the electronic exchange of health information and improved efficiency, reduced costs and better patient outcomes.
"These are exciting results and demonstrate that the significant potential impact predicted for electronic medical records is now being realized all across the nation," she said. " We're seeing some real impact and getting some results."
Marchibroda said this year's survey showed a 30 percent increase in the number of operational HIEs over last year, with 18 new HIEs started since last ear.
Sustainability is still a challenge, she said.
Are you experiencing a positive ROI on your healthcare information exchange investment? Send comments to Senior Editor Diana Manos at diana.manos@medtechpublishing.com.