Modern Physician / PricewaterhouseCoopers Survey Shows Increase in Healthcare Information Technology Spending in 2004

Physician leaders report that they have significantly increased their budgets for information technology in 2003 and plan to invest in overwhelming numbers in electronic medical record systems by 2005.

FOR IMMEDIATE RELEASE

Modern Physician / PricewaterhouseCoopers Survey
Shows Increase in Healthcare Information Technology Spending in 2004
   
Chicago, IL(PRWEB) October 31, 2003---- Physician leaders report that they have significantly increased their budgets for information technology in 2003 and plan to invest in overwhelming numbers in electronic medical record systems by 2005, according to the 6th Annual Modern Physician/PricewaterhouseCoopers Survey of Executive Opinions on Key Information Systems Issues for Physicians.

Of 436 physician executives polled, 36% said their organizations would spend 4% or more of total operating expenses on IT in 2003, up from 27% a year ago. Those reporting spending 2% or less on IT dropped to 21% of physicians surveyed in 2003, down from nearly 33% the year before.

Physicians are going online in record numbers with their organizations in full support, providing them with high-speed, broadband connections, according to the survey. Physician email usage is also rising. Their investment in electronic medical records is soaring, up 10 percentage points this year over last with 80% of physicians saying they plan to have some form of an electronic medical record within two years.

"The survey results show physician leaders are really getting serious about healthcare IT," says Joseph Conn, editor of Modern Physician. "Nearly 80% say they already have the high-speed infrastructure, such as DSL and T-1 lines in place to take full advantage of IT systems. Medicine is finally experiencing the sweeping changes computerization will bring, changes experts have been predicting were just around the corner since the 1980s."

The survey was conducted during July and August 2003. Physician executives were invited to visit ModernPhysician.com to take the survey.

The survey will appear in its entirety in the November issue of Modern Physician. The story, charts and graphs of the data will also be available on ModernPhysician.com in a downloadable PDF format.

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Modern Physician is published monthly by Crain Communications, Inc. and is a sister publication of Modern Healthcare magazine. Modern Physician is devoted to covering news and identifying trends relevant to physician executives in print and online with ModernPhysician.com and MP Stat, our daily e-newsletter. Topics of coverage include finance, managed care, Washington D.C., Legal and Entrepreneurs.

PricewaterhouseCoopers (www.pwc.com) is the worlds largest professional services organization. Drawing on the knowledge and skills of more than 125,000 people in 142 countries, we build relationships by providing services based on quality and integrity. Visit PwC on the web at pws.com/healthcare. (Unless otherwise indicated, PricewaterhouseCoopers" refers to PricewaterhouseCoopers LLP, a Delaware limited liability partnership. PricewaterhouseCoopers LLP is a member firm of PricewaterhouseCoopers International Limited.)
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