Summary
Walmart in a well-timed move with the Obama stimulus, has created a patient electronic record under the control of the patient. It empowers the consumer and so is very attractive but is it the solution to the ever enlarging mountains of medical paperwork? Walmart targets the physician in a small practice, allowing them immediate access to the records of all the physican participants instantly. It could become the dominant company. Small companies with electronic record products will fall by the wayside but products directed at large institutions will not. Thuge piles of documentation will remain.
Analysis
Walmart in a well-timed move with the Obama stimulus, has created a patient electronic record under the control of the patient. It empowers the consumer and so is very attractive but is it the solution to the ever enlarging mountains of medical paperwork and resultant confusion?
Walmart targets the physician in a small practice, allowing them immediate access to the records of all the physican participants instantly. If Walmart can create sufficient patient momentum by enrolling their employees, then the system will become enticing to physician practices and demanded by their patients. In this manner, it could become the dominant company. Even if the cost is higher than necessary,as some suggest, physicians not consumers would be forced into bearing the brunt.
Control of the medical record even indirectly is a powerful financial tool allowing spinoffs such as the sale of drug advertising space directed at that patient and their illnesses, so buyer beware. Some small companies with electronic record products will fall by the wayside but products directed at large institutions will not be negatively impacted and could see opportunities.
However the huge piles of documentation required to satisfy billing code requirements and to provide legal documentation will remain to be tackled, perhaps, by some future heroic paperwork reduction legislation.
