The Value of Medical Device Interoperability:
Interoperability could improve patient care with more than $30 billion in annual healthcare savings
Unsustainable and ever-escalating U.S. healthcare costs, an estimated $700 billion in wasteful spending and the emerging centricity of medical information and its seamless availability in the search for solutions prompt investigation into the value of creating functional medical device interoperability – the ability for medical devices to exchange information with each other and with patient data repositories such as electronic health records.
This report examines areas of waste in healthcare that can potentially be eliminated through greater medical device interoperability and the adoption of commonly accepted standards for interoperability. Waste reduction through greater medical device interoperability would lead to increased efficiency, improved quality and more affordable care. Commonly adopted standards can accelerate the move towards greater medical device interoperability and potentially reduce the cost of achieving interoperability. With all of the caveats associated with estimating the value of a process improvement not yet deployed, our combined top-down and bottom-up modeling suggests that annual savings in excess of $30 billion may be liberated by widespread adoption of functional interoperability for medical devices.
Call to Action
To realize the benefits, providers, payers, medical device manufacturers and the government will need to collaborate and partner to promote the development and adoption of seamlessly interoperable devices. Industry trends are already driving providers and payers to converge and share risk through care coordination, clinical integration and improved population health management. Stakeholder collaboration is expected to provide a strong platform for accelerating adoption of medical device interoperability and realizing its associated benefits.
Given the opportunity to improve patient care and reduce healthcare spending by more than $30 billion per annum, the question that follows is how to drive a shift from the current state with a lack of widespread medical device interoperability to a fully networked healthcare system where the substantial benefits of interoperability can be realized
Dr. Joseph M. Smith and other health care leaders provide expert witness testimony to the House Energy and Commerce Subcommittee on Health.
Dr. Joe Smith and other health care leaders provide expert witness testimony to the House Energy and Commerce Subcommittee on Health.
Medical Device Interoperability Infographic – Case Study: Drug Errors
Medication errors can stem from errors in drug ordering by the physician, order transcription by various clinicians, drug dispensing by the pharmacist and drug administration at the point of care.
Medical Device Interoperability Infographic – Case Study: Missed Diagnoses
Diagnostic errors result from a variety of root causes, such as a failure to account for symptoms, order appropriate tests and consider all relevant diagnoses. Medical device interoperability can reduce such errors by making symptom readings available in real time and pushing test results to a care provider in a timely and clear manner.