Electronic Medical Records Help Reduce Medical Errors

(GE: Fairfield, CT) – GE announced, as part of its healthymagination initiative to increase technology access and reduce costs, the launch of Stimulus Simplicity, a program offering doctors and hospitals an easier path to electronic medical records (EMR) adoption. This program, a joint offering of GE Healthcare and GE Capital, contains two core elements -- a commitment to ensure the EMRs are certified (a precursor to federal stimulus reimbursement eligibility) and an interest-free loan with deferred payments. The program addresses some of the biggest barriers to EMR adoption faced by healthcare providers, uncertainty of future standards, and interim funding to cover the capital investment.

Between 2003 and 2004, 22 percent of sick adults in the United States had duplicate tests ordered by different professionals.[1] Centricity EMR not only helps deliver quality care, but also provides patient data surveillance to identify whether an appointment should be scheduled, a test performed, or if health targets need to be reassessed. This focuses attention on the right, relevant care, and significantly lessens redundancy. 

Stimulus Simplicity helps physician offices and hospitals that invest in GE’s electronic medical records (EMR) products, GE Centricity EMR, and Centricity Enterprise solutions, maximize potential benefits under President Obama’s stimulus funding bill. The financing accelerates healthcare providers adoption of EMRs and further efforts for cost reduction and improved patient care through greater access to valuable information at the point of care. 

Under the HITECH Act of the American Recovery and Reinvestment Act (ARRA), federal stimulus funds won’t become available for EMRs until 2011, and specific guidelines for determining what constitutes a “qualified” system are not yet set. For the immediate adoption of EMRs, GE is making an unparalleled commitment to support our customers’ ability to meet “meaningful use” standards. GE is now offering its HITECH Warranty for Centricity EMR and Centricity Enterprise solutions and zero-interest funding with deferred payments to qualified buyers, so they can have immediate access without the up-front costs.

“Electronic medical records are designed to assist providers in improving patient outcomes, and reducing medical errors and costs,” says Vishal Wanchoo, president and CEO of GE Healthcare IT. “However, significant financial barriers are making healthcare providers hesitant to adopt the technology. Between the large up front capital investment required in these challenging economic times and the uncertainty of the criteria to earn government incentive payments, small practices and facilities in rural areas and inner cities may decide the risks don’t outweigh the potential benefits. GE’s zero-interest interim funding and certification warranty provide doctors, community health clinics and hospitals a bridge to qualifying for stimulus funds and faster access to the improved care available through electronic medical record use.” 

The financing is part of a $6 billion commitment to improve access, affordability, and quality. Under healthymagination (http://www.healthymagination.com/), GE supports the expanded use of healthcare IT to speed communications, while limiting variation and controlling costs. By accelerating EMR and Health Information Exchange (HIE) adoption, GE expects to help remove $28 billion in cost from the health system while improving access to better and more affordable care.

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