Yes, there's definitely a trade-off when it comes to medical information. Making it more easily accessible increases efficiency, improves outcomes, reduces costs, and reduces medical errors. But you give up privacy and may risk being discriminated against in various ways. For example insurance companies and employers could make decisions about you based on your medical history.

I'm sure it will be only a matter of time before the information seeps into the public domain. Like the way survaillance cameras were once considered a huge invasion of privacy and now we don't think twice about having one on every corner.

Where I work there is much care given to minimizing disemination of private data, but it's still happens.

To get one's own medical record is a rather difficult process. At my hospital you have to call a special department and make an appointment to have an advisor sit with you and review your medical record. They do this so that people can understand what the notations mean and don't jump to conclusions. For example, "SOB" in the medical record means shortness of breath, not son of a bitch!