Electronic Health Record Systems
Epic is a privately held company that provides electronic health record products to more than 190 million people worldwide. Established in 1979, the company saw its client base grow tremendously with the passage of the Affordable Care Act in 2009. According to Forbes magazine, Epic System’s market share in electronic healthcare systems in the US is estimated at 40 %. The company employs more than 10,000 people and earns billions each year from the sale of its products.
Epic Systems: Competitors & Products
Despite its dominant market position in the US, Epic Systems faces competition from other firms that, include Cerner Corp, All Scripts, Meditech, and Athenahealth. These organizations offer the same product as Epic Systems but with a little differentiation in price and quality. Regardless of the competition, Epic Sytems has evolved over the years to include various functions and specifications. Specifically, Epic Systems has integrated several functionalities and made its user interface friendly which is why it is preferred by many large healthcare organizations. Some of the integrated functionalities include address management, system access through mobile phones, family health information, and critical care support, among several others.
Benefits of Using Epic EHR System
Healthcare organizations that use Epic HER Systems benefit in several ways. One of the ways that they benefit is increased compliance with healthcare laws, rules, and regulations. By using Epic’s EHR, healthcare organizations comply with the provision of the Affordable Care Act and other subsidiary rules and regulations. Epic System’s ability to collect, store, and analyze millions of healthcare records make decision-making faster and more efficient due to the availability of information that offers more certainty. Further, Epic EHR has some of the highest returns on investment in the industry. Finally, dues to its integration with other systems, Epic EHR enables efficiency and an increase in production in organizations that use them.
Criticism of Epic EHR
The epic system is one of the most comprehensive Electronic Healthcare Records systems. It is used by large organizations and has the largest market share of any EHR system in the United States. However, despite years of improvements, the system faces criticisms from various stakeholders. Its most popular criticism is its cost which could go up to as high as $1 billion for the purchase of a system and requisite installations and maintenance. The price of the system makes players in the industry question its commitment to small healthcare organizations, which cannot raise the millions required to purchase EHR products. Additionally, the company’s products do not have interoperability with other systems. Finally, while Epic EHR is a comprehensive system, some healthcare professionals have criticized some modules as average.
Epic EHR and HIPAA
Due to concerns about privacy and the privacy of patient information, the US government passed the health insurance portability and Accountability Act (HIPAA) in 2003. Among other safety and privacy measures, HIPAA mandates healthcare organizations to use systems that guarantee the safety of patient information. Epic EHR systems guarantee the safety of patient information by encrypting data transfers from one system to another, adding additional layers of safety to prevent illegal access, and opposing rules that seek to relax laws on privacy.
Strategies for Evaluating EHR Systems
Before buying an electronic healthcare records system, a healthcare organization must consider several factors that, include the compatibility of the system with the existing system. They must also consider the system’s compliance with HIPAA, its integration with other workflows, the existence of decision support systems, and the friendliness of the user interface.
References
Jennings, K. (2022). The billionaire who controls your medical records. Forbes. Web.
Wallask, S., & Lewis, N. (2018). What is epic systems? – definition from whatis.com. SearchHealthIT. Web.