Information is currency in the healthcare industry and despite the diversity of services offered, all providers are alike in their need to manage the data that drives their processes; usually using anything from spreadsheets to comprehensive informatics tools.
The fee-for-service form of reimbursement is taking a hit as the industry migrates toward a system of value-based care, with an increasing need for hard evidence that this move is financially viable! This change in approach must be appropriately augmented with digital solutions that can absorb the revenue downturn.
Need of the hour
As a healthcare provider, the intent to accurately and efficiently process an increasing volume of patients, while integrating the latest technology to expand and enhance services, supersedes everything else. Additionally, with growth comes the need for added resources.
While it may seem contrary to establish something new – a digital tool – at such an eventful juncture, this might be exactly what the company needs.
But before giving the system a makeover, bringing in high-level rules management will ensure accurate patient details, fast reimbursements, billing and payment for services, and ultimately set the tempo for smooth running of operations.
What does digitization offer?
An automated information system is turn-key, designed for high throughput particularly large-scale clinical centres, based on patient-centric information.
- Extra focus on critical cases:
Auto-authorization allows clinicians and doctors to approve a report within normal range unless there is an abnormality in which case it is sent for authorization. Intuitive technology notifies the concerned physician if a patient is in immediate danger, eliminating several intermediary forms of communication opening a window to save lives.
With information on a single platform, connecting to healthcare providers globally including physicians, patient care communities, diagnostics with thousands of application and instrument interfaces allows knowledge transfer and better treatment options. This also addresses overutilization, mis- and underutilization of clinical diagnostic tools.
- Logistics Mastered:
During registration a unique ID/barcode is assigned to each patient which is available to the concerned department making it easy for treatment records to be accessed and filed under the same ID. On follow up visits, a single click yields patient data with treatment records, test reports, analysis allowing precision medicine to expand and take off.
- Eliminate human error:
Digitizing means eliminating duplicate data entries, incomplete reports, incorrect entries as information is transferred from one device to a centralized system, sans manual labour. A patient’s information is entered just once and the system periodically schedules appointments, reminds about balance payments which is money better spent on in-demand tools such as diagnostics, critical to patient care.
- Increase Revenue:
A good platform will allow users to track metrics, mine data, crunch numbers and thereby increase turnover. The presence of a dashboard for accessing financial, operational, and logistics based reports will make it incredibly easy to figure out the next steps for the growth of the organization: where to cut back and where to improve.
- Streamline inventory:
Feeding purchase orders, consumables, reagents and other materials into a single platform with pertinent details such as expiration date, quantity, location, and updating them as they are used will go a long way in eliminating excessive ordering of some materials and pilfering of others. This offers a foolproof way of making sure there is an optimum use of resources.
- Transform Payments Posting and Processing:
Payments processes are long and complex, spanning diverse data formats, stakeholders and, physical and digital media. In addition to the staffing needs the cycle demands, there are many other factors that can drive overhead costs. Convert to a 100% electronic process to better manage CMS audits, payment postings, and operational efficiency.
How to choose?
The key features to look for in a solutions provider include:
- Ability to seamlessly integrate with your existing management systems
- Intuitive technology providing analytics for intelligent data mining
- HIPAA compliant systems to ensure patient privacy and protection
The final word
The hassle of scaling operations can be eliminated by digitizing your processing. Save time, money, and lives at the mere click of a button.