As the saying goes, necessity is the mother of invention. A similar correlation is seen in the quest to leverage innovation and out-of-the-box thinking to address key problems facing the healthcare industry. The ongoing COVID-19 pandemic has brought the immense pressure the U.S. healthcare system is under into sharp focus. Recent dynamics are compounded by the industry’s efforts to adopt newer ways of working and digitizing patient records, while implementing automation throughout their business
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Top 5 Business Opportunities for Digital Health Companies in 2021. Where Is The Money?
For many companies, 2020 has been a devastating year due to the consequences of the COVID-19 pandemic. While the same can be said for the digital health sector, the pandemic has also paved a way for unexpected and extraordinary business opportunities in 2021. Good ideas with a business loan from online lenders such as Biz2Credit are the ingredients for a successful business venture in this pandemic. In 2020, Digital health start-ups and more established companies have suffered, as have other
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Intelligent Automation of the Revenue Cycle: How an Integrated Platform Approach Yields Financial Results
Healthcare provider networks are experiencing enormous pressure to manage financial margins and invest in contactless patient experiences. With overall financial losses projected to exceed $323 billion as a result of COVID-19, a projected $200 billion in administrative waste due to revenue cycle inefficiencies, and increasing pressure to meet digital consumerism demands, it is essential for health systems to find ways to streamline processes, maximize their revenue cycles and cut costs. These
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Leveraging Technology and Data for COVID-19 Vaccine Distribution
After months of uncertainty, hope is finally on the horizon as three viable COVID-19 vaccine candidates are moving closer towards approvals for public distribution. Getting to this stage was extremely labor-intensive, but unfortunately, it’s not the end of the hardships. The coronavirus vaccine will represent the largest vaccine distribution in U.S. history, and manufacturing and distributing the vaccines will have its own fair share of difficulties for healthcare systems. In order to optimize
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Challenges of Operationalizing Remote Patient Monitoring Data
Among the many evolving technologies in the healthcare industry, there may be none more important or impactful than remote patient monitoring (RPM) hardware and software solutions. This technology is opening up new possibilities in extended healthcare – saving patients money, limiting visits to the doctor’s office, and providing healthcare professionals with powerful tools for diagnosing and treating patients. As these tools continue to mature, software and hardware developers are solving
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To Beat COVID-19, We Need A Modern Approach to Public Health Data
The COVID-19 pandemic, which has taken 270,000 American lives to date, has shined a light on another crisis — the U.S. currently has no standardized system for reporting public health data. Health departments all over the country resort to using paper, fax, phone, and email to transmit and receive critical information, and essential healthcare workers are spending precious time retyping data into systems from printed reports and PDFs.
At the heart of this lack of a centralized infrastructure
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3 Steps to Maintain Telehealth’s Momentum Post-Pandemic
In the face of COVID-19, healthcare witnessed how crises can become the long-awaited push for creativity and innovation that the industry needs. When our healthcare infrastructure’s weaknesses were exposed, telehealth helped to stitch them up, with the number of telehealth claims increasing 8,336% nationally from April 2019 to April 2020. Out of need, patients quickly turned to telehealth as a new model of care delivery; clinicians adapted to a new avenue for engaging with patients, policymakers
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IoMT Is Improving Patient Access: We Must Avoid Creating New Barriers
The Internet of Medical Things (IoMT) is changing the face of healthcare and has the potential to significantly improve patient access as well as system efficiencies. The adoption of telemedicine, for example, spurred on by the Covid-19 pandemic, has spread rapidly. Forrester revised its forecasts to predict that virtual care visits in the United States will soar to more than one billion this year—including 900 million visits related to Covid-19 specifically. Likewise, in the United Kingdom,
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Transitioning from Traditional to E-Fax: How Healthcare Communications are Transforming Post-COVID
The majority of industries have decreased or eliminated their use of the traditional fax machine over the past decade, including aviation, retail, and even finance. While the healthcare industry is at the forefront of disease research and treatment, however, it is still heavily reliant on this aging technology.
Traditional fax has become ubiquitous in healthcare. It worked for health systems for many years, but the overwhelming volume of patient data and paper documents the healthcare
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Solving the 50-Year-Old EHR’s Midlife Crisis: How Platform EHRs are Finally Delivering Clinical Intelligence
Over its first 50 years in existence, how did the EHR lose its way?
Given that EHR adoption doubled between 2007 and 2012 and EHR expenditures in the United States grew an annual average of 5.4% from 2015 to 2019, totaling $14.5 billion in 2019, this may sound like a strange question to ask. But it’s earnest, and asking it acknowledges that electronic health records, first conceived and implemented during the presidential administrations of Lyndon Johnson and Richard Nixon, haven’t lived up
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