Work is underway to make the medical community implement meaningful use of electronic medical records. It's believed that patients will benefit from better care and fewer errors if electronic medical records are adopted by clinicians.

A survey of more than 500 physicians by the Physicians' Reciprocal Insurers found that many doctors are not aware of what measures will be taken for failure to make meaningful use of medical records. In fact, the survey reveals that more than 35 percent were not aware they could be financially penalized if they are found to not be in compliance.

However, PRI associate director of risk management Gerri Donohue notes that there are other provisions doctors are aware of.

"The ability to pull patient records and use the data in a collaborative environment will change the way healthcare is administered, and contribute [to] the reduction of risk," says Donohue. "It's encouraging to see that the majority of physicians understand this benefit."

On the consumer front, some have noticed an upward trend in individual health insurance quotes as costs have continued to rise. Overall, expenses have edged upward throughout much of the healthcare sector.