The amount of patient data is astounding — and climbing fast. As healthcare organizations work to safeguard it, they face mounting costs as well. Efficient, accurate, and secure patient information management is pivotal to providing the highest levels of patient care, and relying on outdated paper-based systems or DMS that aren’t up to the task not only hampers these efforts but conversely draws significant costs and risks.
In this blog, we’ll review the high costs associated with not using healthcare Document Management Software (DMS), including the expense of paper, time wastage, staff frustrations, security breaches, and compliance issues. We’ll review how DMS can address these challenges and transform healthcare operations.
Related: The Cost-Saving Potential of Cloud-Based Document Management Software.
The cost of maintaining a paper-based system exceeds the price of paper itself. Printing, copying, filing, storing, and retrieving paper records involves substantial ongoing expenses. According to industry estimates, healthcare organizations can spend thousands of dollars annually on paper-related costs. Additionally, the physical space required to store paper records can be considerable, often necessitating expensive offsite storage solutions.
By contrast, DMS eliminates the need for physical paper records. Digital records are stored electronically, reducing or eliminating the costs associated with paper, printing, and storage. This not only frees up physical space and time but also translates into significant financial savings as well.
Paper-based systems are notoriously time-consuming. Healthcare professionals often spend valuable time searching for and managing paper records, and this time could be better devoted to focused patient care. The manual processes include updating, filing, and retrieving paper records, all of which are inefficient and prone to errors.
DMS streamlines these processes by digitizing patient records and facilitating document automation. Electronic records can be accessed securely and instantly, reducing the time spent rummaging for documents. Again, healthcare providers can direct this saved time to patient care, enhancing the overall patient experience and improving health outcomes.
Staff aren’t excluded from these challenges. Paper-based system inefficiencies can cause frustrations among healthcare staff. They must perform the tedious job of manually handling and managing paper records, which leads to dissatisfaction and burnout. Misfiled or lost documents further exacerbate these frustrations, leading to delays in patient care and increased stress levels among staff, not to mention lack of compliance and other problems.
DMS alleviates these frustrations by providing a centralized, easily accessible digital repository for patient records. With automated workflows and streamlined processes, healthcare staff can perform their tasks more efficiently and accurately. This not only improves job satisfaction but also enhances the overall productivity of the healthcare team.
Paper records are vulnerable to a range of security threats, including unauthorized access, theft, and physical damage from fire or water. Protecting sensitive patient information is crucial to maintaining patient trust and complying with HIPAA regulations.
Healthcare document management software provides robust security features that significantly reduce the risk of security breaches. Advanced encryption, access controls, and audit trails ensure patient information is protected and only accessible to authorized personnel. Additionally, electronic records stored in the cloud are backed up and far less susceptible to physical damage, ensuring patient information remains secure even in the event of a disaster. When there is an outage or other disruption to service, DMS like DigiDoc can still operate offline, keeping crucial continuity of care during disasters.
Since non-compliance with HIPAA healthcare regulations can lead to severe financial penalties and legal troubles, DMS is a critical tool for saving time and money in this arena as well. Paper-based systems are more prone to errors and inconsistencies and therefore increase the risk of non-compliance with HIPAA. If healthcare organizations fail to protect patient information adequately or maintain accurate records, they can incur hefty fines and irreparable damage to their reputation.
DMS helps healthcare organizations stay compliant by automating compliance-related tasks and ensuring all records are accurate and up-to-date. Built-in compliance features, such as audit trails, automated reporting, and version control, make it easier to meet regulatory requirements and avoid costly fines. This proactive approach to compliance helps protect the organization from expensive and frustrating legal and financial repercussions.
Implementing DMS solves the various costly challenges associated with paper-based systems. Here’s how:
Related: Tracking ROI: Is Your Document Management Service Meeting Expectations?
The high cost of not using healthcare document management software is clear in the financial, operational, and security challenges faced by healthcare organizations that rely on paper-based systems. By transitioning to DMS, healthcare providers can achieve significant cost savings, improve efficiency, enhance staff satisfaction, ensure data security, and stay compliant with regulatory requirements. Deploying DMS is not just a matter of convenience but a strategic imperative for delivering high-quality, patient-centered care while reaping significant savings. We’ve helped over 175 facilities save over $11.4 million and counting. Reach out today to see how DigiDoc can help your healthcare organization achieve high savings too.