The federal government is claiming that annual savings of $2.8 billion through reduced adverse events and test duplication – as well as 5000 lives – are possible if all Australians sign up to the My Health Record.

Officially launching the renamed PCEHR in western Sydney today, Health Minister Sussan Ley said proper use of the system could see potential savings of $7.6 billion and improved value and efficiency in healthcare expenditures by 2020 by reducing medical duplication and adverse events.