An investigation conducted by records managers revealed that there are 318 billion paper documents on file with 92 billion new pages added each year. The costs of storing and processing these documents must be enormous. Large volumes of documents require additional storage space, which carries a hefty fee, and documents often require duplication as they pass from one hand to the next, adding to the already costly process.
Paper documents can also cost an organization a great deal of time and resources. 80 – 90% of an organization’s information is stored in the form of documents. As a result, a substantial amount of time is required for the input, retrieval, administration, and tracking of documents, making the traditional file cabinet highly inefficient. Every minute taken to process operative reports is time taken away from the productive functioning of an organization.
Conventional file cabinets are also insecure to theft and physical loss or damage, making it difficult to comply with industry and government-mandated standards, and opening up companies to costly legal claims. No organization wants to have to jump over the very burdensome hurdle of a legal complication.
The Saving Grace of Document Management Software
The wonderful news is that technological advancements have made it possible to alleviate all the potential storms that may arise from keeping paper records. Document management software (DMS) renders file cabinets, additional storage rooms, folders, and photocopies obsolete.
With DMS, the costs of storage is reduced significantly as features such as large capacity storage, multimedia files, image processing and hypertext are sophisticated enough to accommodate a large volume of documents. Furthermore, the ability to share documents with the click of a mouse eliminates the costs associated with duplication.
DMS offers a digital solution that reduces the direct and indirect costs of record keeping and offers enhanced, worry-free security. Heavy encryptions makes documentation less easily penetrated by unwanted parties, regular system backups mean that any potential loss can be easily retrieved.
DMS also saves companies time, allowing employees and management to focus an organization’s productivity. Less time will be spent on indexing and retrieving files and more time spent on customer acquisition and satisfaction. This easy access to information greatly improves the quality of service that clients as well as staff receive. This is particularly advantageous to those in the healthcare industry, where quick delivery of medical transcription and other documents is critical. In this instance, money is saved, time is saved, and the delivery of medical treatment can proceed with efficiency.
The Healthcare Industry and eFileCabinet
eFileCabinet is DMS tailor-made for the particular demands of the healthcare industry. Our paperless software relies on 256-bit encryption, role-based securities, and frequent backups to off-site data centers to ensure that confidential medical transcription records remain secure from cyber attacks, inadvertent or accidental loss, and physical loss or damage. eFileCabinet is compliant with HIPAA and can help healthcare professionals meet medical documentation requirements required for Medicare submissions and payments. In most states, patients have the right to receive a copy of their medical records, including operative reports—healthcare providers can make this process easier with eFileCabinet’s document management software.
eFileCabinet also streamlines the complicated workflows associated with medical documentation by ensuring that key documentation and records are forwarded to the necessary healthcare professionals for authorization or review, and our tracking function also allows authorized users to see when a file has been viewed, updated, and shared, and by whom. Turn to eFileCabinet for a secure, traceable, industry-compliant solution to medical document management.
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