Why Are Other Industries Way ahead of the Healthcare Industry with Electronic Records?

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So I think it unfolded in a couple of ways. First of all, there was in some cases more money, particularly in the financial industry, to spend on those kinds of technologies, that's one. Two, they consolidated a lot earlier. As I said before, in many ways healthcare for the last few years has been a cottage industry.

It's only in recently that the majority of physicians in the United States now work for an organisation. Maybe not a hospital, it could be a larger physician group, but until very recently most of them worked for themselves. So they didn't have the resources, both economic, time, knowledge, to make that conversion.

And there also weren't huge incentives to do so, right? So, I don't only mean financial incentives, I just mean incentives in general. It could be cultural incentives. It could be societal incentives or whatever, I mean. So, there is not enough, coming from that sense of a cottage industry, you needed to have some consolidation, you need to bring things together to someone, to be able to move in in the same ways that those other industries have.

And then once you do that then the cost also come down, because you can replicate things much more standardized in a more standardized fashion, over one practice to another practice et cetera.