While most technology- and innovation-oriented industries have followed the general principles of Moore’s Law, which holds that computing power would double yearly, while costs were cut in half, the life sciences industry appears to be spending more money developing fewer drugs.
According to the latest data, the cost to take a drug candidate from the discovery stage, all the way to market launch, hit $2.3 billion in 2022—a $298 million rise from 2021. Meanwhile, there were
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Health IT & Digital Health-Opinion | Op-Eds | Guest Columns | Analysis, Insights - HIT Consultant
Bed Shortages: How AI Can Help Reduce Length of Stay in Hospitals
Length of stay management in acute care facilities represents a critical frontier for providers and payers to improve their own bottom lines, and also improve patients’ experience with the healthcare system.
Let’s take a closer look at how today’s systemic inefficiencies arose, and how collaboration within provider networks, and between payers and providers, might improve length-of-stay procedures and inefficiencies in the future.
Acute care facility bed shortages, and how they
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AI in Healthcare: Balancing Automation with Human Expertise
AI holds immense promise in healthcare, from improving patient care and operational efficiency to early disease detection and personalized treatment plans. AI's potential in a patient-centered environment hinges on understanding its capabilities, limitations, and the critical role of human oversight. While AI can greatly enhance human abilities, it is not infallible and cannot replace human expertise. Recognizing and preparing for AI's predictable (and unpredictable) outputs, ensuring
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Revitalizing Medicare Advantage: How The Push to Streamline Prior Authorization Will Impact Senior Care
As a physician, the odds that you’ve had a negative experience related to the prior authorization process are (unfortunately) highly likely. According to the American Medical Association’s (AMA) 2023 Prior Authorization Physician Survey, 1 in 4 physicians report that prior auths “have led to a serious adverse event for a patient in their care.” Think about the toll that this takes on professionals whose primary job is providing lifesaving care, and the thing preventing this care is outside their
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PCI DSS 4.0: A Guide to API Security for Healthcare Organizations
In recent years, several major health information exchange platforms in the United States have fallen victim to ransomware attacks. These platforms play a crucial role in U.S. healthcare infrastructure, facilitating the flow of patient records and managing payments for extensive networks of providers, including hundreds of thousands of doctors, tens of thousands of pharmacies, thousands of hospitals, and hundreds of laboratories. Some of these systems process billions of claims annually,
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Suicide is NOT a Symptom: Healthcare Is Missing the Mark on Suicide Prevention
Too many have lost a loved one to suicide. Every 11 minutes someone dies by suicide in the US, often without warning. Suicidality has historically been regarded as a symptom of major depression and mental illness in general. During my training, when someone was at risk of suicide, we were taught to treat the underlying mental illness and the patient will get better. However, in many cases that has proven to not be correct.
In fact, a large percentage of severely depressed
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Leveraging AI to Reach Occupancy Goals in Senior Living Communities: What You Should Know
Artificial intelligence (AI) is seemingly proliferating everywhere, and so are discussions about its advantages and pitfalls. The senior living industry finds itself at this technology crossroads as it tries to figure out if—and how—to incorporate AI into its operations.
Occupancy goals are one area that holds great potential for AI to give senior living communities a nice boost. However, it’s not as easy as just flipping a switch and letting AI take over. To realize the real advantages AI
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How AI is Transforming the Acute Patient Journey
Optimizing patient throughput across the acute patient journey is essential if hospitals and health systems are to improve healthcare efficiency and clinical outcomes.The fundamental purpose of optimized throughput is to ensure the patient is in the best care setting possible for them at every point in their patient journey. Spending too little or too much time in an acute care setting can be detrimental to the patient. Take the case of a patient who stays in a hospital bed longer because they
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Beyond ERP: Implementing AI in Healthcare Without Overhauling Systems
The healthcare industry is in a transformative era driven by artificial intelligence (AI). This technology is revolutionizing healthcare delivery, from accelerating drug discovery and streamlining clinical workflows to improving patient diagnosis and treatment plans.
In fact, AI is anticipated to potentially save healthcare professionals up to $110 billion within the next five years. This can translate to even further cost optimizations and more efficient healthcare systems on a global
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Improving Patient Engagement Through EHR-Driven Communication Tools
The integration of Electronic Health Records (EHR) systems within healthcare organizations has revolutionized patient engagement. With the rise of healthcare IT solutions, EHR-driven communication tools such as patient portals, telehealth apps, and patient engagement software have become pivotal in enhancing communication, reducing barriers, and improving patient involvement in their care. These technologies allow patients to access their health data, communicate with providers, and participate
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