Over the years, mergers and acquisitions (M&As) have shaped the healthcare industry and have worked to standardize processes, technologies, etc., and while the number of M&As slowed during the pandemic, they are expected to be on the rise again in 2021.
When M&As happen, it is common for hospitals to switch their practice management and/or electronic health record systems. When this happens, the hospital has a couple of options when it comes to dealing with the now “legacy” systems.
- Switching the legacy systems to maintenance or “read-only” mode
- Archiving the data and decommissioning the displaced system
We will address each.
First, “read-only” or maintenance mode. This is what most hospitals opt for, as it is the quickest and easiest option, however it is also expensive and unsustainable in the long run. Systems in maintenance mode create data silos, making data difficult to track down or access required information. A major issues becomes staff productivity loss due to having to log into multiple systems. Additionally, as systems age, they stop receiving security updates and patches, causing them to be vulnerable to cyberattacks and breaches. They also cost thousands of dollars per system per month for licensing, maintenance, and support costs.
The second option, legacy data archival, is the most cost-effective and secure option. Below are just a few of the benefits:
- Cost Savings – legacy system maintenance comes with a hefty price tag, often costing thousands of dollars per month per system. Archiving data eliminates all licensing, maintenance, and support costs and allows organizations to sunset the system. The overall cost savings per year is significant and allows that money to be reallocated to other projects.
- Data Accessibility – Extracting and consolidating data allows for providers to easily access historical health information. It also allows them to be able to quickly pull data for health, financial, and legal reasons. This should be done with integration to the go forward system supporting single sign-on.
- Data Retention – Due to federal and state laws, health data must be retained of a period of time, often ranging from 10-30 years. Archiving data and storing it in a singular application that allows providers to search for data quickly and efficiently.
- Data Security – Once data has been archived, it is placed in a HIPAA-compliant platform that undergoes regular penetration testing and security scans, as well as receives upgrades and necessary security patches.
- Staff Productivity – Legacy systems create cumbersome tasks that burdens staff. Data archival removes those frustrations by enabling providers to have access to patients’ comprehensive health records at the point of care.
If your organization has been affected by a merger or acquisition, now is the time to investigate how legacy data archival solutions like ClearView LAS can benefit your organization.
To learn more, schedule a demo, or chat with our team at 877.874.6479 or firstname.lastname@example.org.