In today’s dynamic healthcare industry, it is important that providers embrace modern information technology and innovations to achieve organizational success. It’s no surprise that the health IT landscape is changing rapidly, driven by the interrelated trends of mobility, cloud, security and big data. This will fundamentally change the way that healthcare organizations communicate and collaborate moving forward. But, these health IT trends are not only driving change, they are also serving as the path to deal with many of the new dynamics created in today’s office environment.
In turn, healthcare organizations will need a “new style of IT” that helps them become more agile and efficient while reducing operational costs. In addition to these megatrends, changes to government regulations are driving an industry-wide shift to improve healthcare IT, which have increased healthcare IT spending projections to $34.5 billion in North America.
There will be an abundance of technology resources available to help healthcare providers facilitate this transition; however, IT decision makers must be able to identify the technologies that will work best for their business. The following three strategies are key consideration points when looking for new technologies to help you manage IT megatrends.
Benefit from Healthcare Big Data
Regulatory changes associated with the Patient Protection and Affordable Care Act (PPACA) will create a surge of newly insured patients. The Congressional Budget Office expects that the PPACA will cover around 14 million of the uninsured in 2014 and 25 million by the end of the decade. There is a significant financial opportunity with these new patients, but it is important to consider that the number of practitioners will not immediately increase to accommodate this influx.
Investing in technology and tools designed to specifically address big data and the vast amounts of patients’ personal information will help healthcare organizations provide more personalized care to these newly insured patients. By selecting tools that help collect, store and search for patient information, healthcare organizations can increase productivity by significantly reducing time spent managing patient records. Converting documents into searchable digital formats is an important part of this process, and educating staff on how to properly scan and organize documents in their digital form will help make patient data more accessible and usable.
Guest post by Bill Walker, chief technology officer, Aegis Health Group.
Fo r the last several years, there has been an increasing emphasis by the federal government on digitizing the healthcare industry. The allocation of meaningful use dollars to physician practices for converting to electronic health records was only the beginning. The Affordable Care Act (ACA) was the seminal event that demonstrated without a doubt that electronic management of patient information was going to be an absolute if hospitals and health systems are to survive.
The ACA puts healthcare organizations at financial risk for duplication of services, lapses in care coordination and questionable patient safety practices. Population health management demands that electronic patient records be accessible for planning, managing and tracking care coordination. But the fact is fully managing the continuum of care for a patient cannot be achieved without data collection both inside and outside the hospital’s walls. This is a trend that will take on increased importance as healthcare reform rolls out in 2014.
Health systems with forward-thinking HIT executives saw the writing on the wall after the ACA became law and began converting their organizations to electronic medical records. Systems that are considering becoming accountable care organizations (ACOs) – and accepting value-based reimbursement, which will become the predominant reimbursement model – need to find ways to track the health status of individuals in their community before they become patients. How? By embracing the use of technology that closes the healthcare loop before people even know they need those services.
Over the past year, economic pressure and regulatory changes have increased scrutiny around areas of inefficiency within the healthcare industry. With new policies like the Affordable Care Act creating the need to improve patient outcomes and prevention, 2014 will be the year for much needed efficiency upgrades across the board at hospitals. And with mounting pressure to cut costs amidst anticipated physician and other major shortages, new and innovative ways to leverage technology will be called upon to usher in changes for the healthcare industry.
The business of care will continue to be a major area of focus for hospitals in 2014. Preventable, adverse events because of medical errors cost the healthcare industry more than $29 billion in 2013 and have led to between 50,000 to 100,000 deaths each year. Healthcare professionals and hospitals cannot afford to continue accepting medical errors as balance sheet losses, which are not only jeopardizing profitability, but patient care. To save money and improve patient care at the same time, hospitals will look to learn from technology being used successfully by other industries in 2014 to enhance real-time analysis and, thereby, prevention and outcomes.
One of the greatest sources of information that depicts the changes in health IT trends across the industry landscape is from Michael Lake, healthcare technology strategist. Through his monthly reports on the state of health technology, published by his company Circle Square, he provides succinct highlights from throughout the last month. Possibly, what’s best about these reports is that they cover such a diverse segment of the ecosphere.
For example, in one of his most recent reports, the focus was the EHR vendor sphere, cloud EHRs and their importance to independent practices, the use of faxes in hospitals, vendor news and transactions and practice portal insight, among other news.
According to his most recent report, cloud-based EHRs with integrated billing are quickly becoming a key to a practice’s future success as an independent practice. In his report, he cites Black Book as ranking solutions that seamlessly integrate electronic health records (EHR), revenue cycle management (RCM) and practice management (PM). Kareo tops on the list, per KLAS.
However, most practices feel that billing and collections systems and processes need upgrading (87%) and more than 40 percent (42%) are considering an upgrade to RCM software in in the next year . Most practices (71%) are considering a combo of new software and outsourcing services for improvement.
