In the United States, healthcare costs make up more than 17% of GDP.
The data that healthcare organizations generate, collect, and manage is massive, having an ever-growing impact on the industry. RBC Capital Markets, a global investment bank, estimates that approximately 30% of the world’s data volume is generated by the healthcare industry. By 2025, the compound annual growth rate of data for healthcare will reach 36%. That’s 6% faster than manufacturing, 10% faster than financial
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Why Value-Based Care Requires Value-Based Administration
Value-based care (VBC) is finally gaining steam among healthcare organizations as executives look to implement processes that boost patient outcomes and rein in elevated levels of spending. To that end, more than 90% of health system executives say they expect VBC contracts will continue to grow in the coming years.
Despite the widespread popularity of the concept of VBC, making it work is something of an “all-hands-on-deck” approach. VBC relies on the collaboration between many
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How Healthcare Consumerism is Driving Integration in 2022
Healthcare consumerism is not just a buzzword. It’s a movement changing the reality of how it is delivered. Retailers and other industries like banking and travel with strong consumer strategies understand how to appeal to consumers through convenience and simplicity, two characteristics that healthcare is trying to emulate.
A 2020 consumer experience study uncovered that the process of finding, accessing and paying for healthcare in the U.S. is so inconvenient that half of the consumers
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5 Tech Solutions For Employee Management In A Growing Healthcare Facility
Tech solutions in health care are getting the spotlight these days. Propelled by the sudden changes that the pandemic brought forth, the various quickly developed solutions were aimed to address a wide scope of old and entirely new problems within the industry.
In terms of advantages, the benefits that modern technology brings to healthcare are common for a number of other fields: optimizing workflows, simpler updating and accessibility of patient care protocols, and easier time and staff
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5 Trends Bringing Effective Intelligence into Revenue Cycle in 2022
5 revenue cycle management trends that will drive adoption of automation, data-first processes, employee effectiveness and virtualization
Many physician practices are facing a harsh reality as they enter 2022: The revenue cycle processes and technology that have traditionally produced an acceptable bottom line are no longer delivering.
Tectonic shifts in the way healthcare organizations are reimbursed are unearthing the shortfalls of reactive systems that don’t get ahead of claims issues,
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3 Ways Conversational Insight Can Unlock a Positive Patient Experience
The healthcare landscape is changing, and not just because of the pandemic. Trends like consumerization and reimbursements tied to patient experience have pushed many healthcare providers toward an accelerated digital transformation – including the modernization of the contact center. Those that have embraced this transformation have started to implement solutions and structures like patient portals and a single contact center that handles every patient request, from appointment scheduling to
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M&A Analysis: Getinge Expands Digital Solutions Through Acquisition of Talis Clinical LLC
In December 2021, Getinge announced its plans to acquire 100% of the equity interest in US-based Talis Clinical LLC. Talis Clinical LLC provides high-acuity IT software platforms.
- Talis Clinical was founded in 2013 by Gary Colister (CEO) and Roger Hungerford (Chairman).
- Talis Clinical’s software applications include Critical Care, Cardiac Surgery/Perfusion, Extracorporeal Membrane Oxygenation (ECMO), Anaesthesia and Labour & Delivery.
- Getinge has a comprehensive
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The Next Evolution of Telehealth and What It Will Take to Get There
Telehealth has been majorly beneficial to millions of patients and providers throughout the pandemic. To continue being efficient and delivering results, however, virtual care must evolve quickly. Healthcare organizations will need to implement telehealth for use cases beyond the reactive video-only model they’ve grown used to during COVID. Now, there is an innate need for telehealth to encompass a broader range of conditions and contexts across the whole care continuum.
Healthcare leaders
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Nurse Burnout Even Bigger Challenge Than Physician Burnout
The pandemic has pushed nurses to the brink. A recent survey by the American Nurses Association reports 51 percent of nurses feel overwhelmed, 76 percent report exhaustion and burnout, and nurse-to-patient workloads have tripled. (Jan. 2021). Hospitals function on the back of nurses, and the current burnout levels cannot be sustained.
In addition to the pandemic, Electronic Health Record (EHR) systems share a big part of the blame. EHRs were introduced to the health care
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Clamping Down on Upcoding Risk: 3 Steps to Ensure Proper Payment & Compliance
A recent report from the HHS Office of the Inspector General (OIG) turned heads across the healthcare industry after pointing to a notable rise in inpatient hospital stays where upcoding was believed to be the culprit. Compliance professionals who have been in the healthcare industry any length of time know what's next: targeted billing reviews by the Centers for Medicare and Medicaid Services (CMS) around hospital stays that are vulnerable to upcoding.
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