There are 1,000,000 new documents created every minute in healthcare, which translates into 500 billion documents annually. As hospitals struggle to find space for medical record storage (on and off-site) and replacements for antiquated methods of converting paper into alternate formats such as microfiche/microfilm to meet retention regulations, the associated costs keeping mounting/piling up.
What is the cost of time spent filing charts and loose documents, looking for charts or documents, producing copies and pulling charts for patient care or audits?
Recent studies indicate that 10% of paper documents will either be lost permanently or temporarily misplaced at some point during their life cycle. More paper only means increasing difficulty accessing the necessary documentation to treat the patient. At a minimum, this means staff will likely spend a significant amount of time locating, storing and tracking paper documents.