The Patient Safety Institute, an organization hoping to create a health information exchange through a self-funding model, has shut down operations after six years.
The Plano, Texas-based institute attempted to develop a health information network that would be paid for through a private-sector funding model, in which each participant paid a transaction fee for the data to be sent or delivered, similar to fees collected by credit card companies. After testing its network in Seattle, the institute spent two years developing the financial model; however, the institute could not find an initial investor to launch the network nationwide, the organization said in a news release.
In assessing its experiences, PSI concluded that PSI and its self-funding model were unable to overcome certain perceptional barriers, according to a written statement from the institute.
The model was seen as too complex and too different, according to the institute. -- by Jean DerGurahian
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