Adoption of PHRs could save up to $21 billion annually

A new study from the Center for Information Technology Leadership at Partners Healthcare System in Boston has come up with a detailed analysis of how much money interoperable PHRs could save annually.

The study, which examined the costs and benefits of increasing the adoption of PHRs to 80 percent of the U.S. population, found that it would cost $3.7 billion in startup costs and $1.9 billion annually in maintenance costs. However, it also found that it would save up to $21 billion annually. It's worth noting, meanwhile, that most of the savings would go to the payers.

The study was paid for in part by unrestricted research funding from three vendors involved in the PHR market, and partially funded by the Healthcare Information and Management Systems Society.

To learn more about the breakdown of potential savings:
- read this iHealthBeat piece [1]

Related Articles:
Promoting PHR use: Is it a good idea? [2]
Groups sink $5.3M into PHR apps [3]
Key players agree on PHR framework [4]
AHIMA demands better PHR privacy protections [5]