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PHI also called personal or protected health information, is a collection of patient information that includes medical histories, tests, demographic information, insurance information, or any other disclosures made to healthcare providers for appropriate care.
The HIPAA Act of 1996 defines PHI as any information relating to a patient's past, present, and future health.
There are more than 18 identifiers, according to HIPAA. Some of them include:
● Name
● Address
● Phone number
● Birth date
● Admission date
● Email address
● Social security number
● Medical record number
The list goes on, and when these identifiers are coupled with health records, they become PHI. Accurately extracting PHI information ensures patient safety and mitigates medical errors. Continue reading to find out why
Healthcare Providers Make Informed Clinical Decisions
Accurate PHI data facilitates well-grounded healthcare providers' decision-making processes, as they rely heavily on PHI data. By extension, doctors and nurses can promptly customize treatments for their patients, thus avoiding problems arising from guesswork and trial-and-error approaches.
Efficient Care Coordination
When a patient's care involves several specialists or different healthcare facilities, accurate personal health information can go a long way in ensuring that patients experience seamless care coordination. Misunderstandings and communication breakdowns among healthcare providers are reduced, leading to a more cohesive patient care approach.
Accurate PHI Leads To Optimized Medical Management
Recent research indicates that one out of five patients may not be matched correctly with electronic health records. 18% are duplicates. If the healthcare staff fails to create a new patient record, the efficiency of the healthcare organization may be negatively impacted. Should the staff decide to review the records to find the correct documents, time may be consumed. Therefore, the chances of medication-related errors become apparent in such a scenario, endangering patient health.
To that end, a healthcare organization should maintain accurate PHI to avoid inconveniences. An outsourced team that deals with data collection, preparation, and provisioning can come in handy to ensure that your healthcare business maintains clean data at all times for optimized medical management.
Accurate PHI Leads To Revenue Growth
When a healthcare organization ensures proper management and extraction of PHI, it can significantly boost its revenue. This is primarily because accurate PHI data streamlines billing and claims processing, enhances informed clinical decisions, and enables the provision of appropriate and timely care.
As you can imagine, poor-quality data leads to decreased revenue and profits due to incomplete and inaccurate data, leading to incorrect diagnoses. Consequently, many patients opt for medical services in other healthcare facilities due to the unsatisfactory services of their initial healthcare facility.
Recent research indicates that a healthcare business may lose approximately 20% of revenue due to inaccurate PHI. By extension, failure to timely address the situation can cost a healthcare organization an additional $100 per record. Given these implications, it only makes sense for a healthcare institution to prioritize accurate PHI internally or outsource skilled professionals to ensure accurate patient records.
Enhance Patient Safety by Partnering With an AI Redaction Software Company
Undoubtedly, most healthcare facilities handle sensitive information, and maintaining accurate PHI data regarding patient safety and avoiding medical errors cannot be underestimated. If you want a secure solution with productivity at heart, iDox.ai has your back.
We offer a groundbreaking solution for healthcare facilities by effectively minimizing PHI extraction errors and enhancing the standards of patient care. By partnering with us, we first ensure that we alleviate your administrative burdens by employing advanced technology for sensitive information discovery, comparison, and redaction.
Get a quote or schedule a demo session today and experience how our first-hand accurate PHI extraction can transform your healthcare operations.