Healthcare organizations are facing serious financial challenges as they are forced to convert their practices and patient records to digital formats. New data from Medical Group Management Association (MGMA) reveals healthcare IT costs rose more than 40 percent since 2009 to $32,500 per physician. The rise is attributed to covering costs related to information technology equipment, staff, maintenance, and other related expenses.
According to the MGMA 2016 Cost and Revenue: 2016 Report Based on 2015 Data, IT costs rose the most between 2010 and 2011 in response to the implementation of the 2009 Health Information Technology for Economic and Clinical Health (HITECH) Act, which incentivized healthcare providers to use certified electronic health records (EHRs.)
