On March 23, 2010, the healthcare world changed drastically. One thing is certain: The law Obama signed into effect will impact each and every stakeholder in healthcare (patients, physicians, nurses, insurers, healthcare IT vendors, businesses, and drug makers). Since hospitals are considered to be a business, they’ll see changes first-hand.

The new law will introduce changes as to how providers should deliver care. However, there will be opportunities for hospitals to be actively involved in those changes. They can participate in pilot programs and/or demonstrations to better coordinate their payments with the quality of care provided to patients.

There is one key choice that boards of hospital directors should make: Join a pilot program to pursue the financial incentives being offered by the federal government. Billions of dollars are being offered through the economic stimulus law (ARRA of 2009) to move physician offices and hospitals away from paper records to Electronic Health Records (EHRs). According to Advance for Imaging magazine, “It’s a fact that EHR systems save lives and money.” In the long run, choosing to have a certified EHR that meets certain criteria can earn healthcare providers millions of dollars. Therefore, it is integral for hospitals to adopt EHRs – not just for the federal incentives but for the overall quality of patient care.

Hospitals must use EHRs to improve quality and lower their operating costs. They must become more efficient and proactive with their healthcare IT (optimization of systems) – In fact, the government has made it clear that healthcare IT is a priority. If hospitals are able to change and adapt to the modifications being made volatile world of healthcare, they will be able to survive.