With changes coming to the White House and potential changes to the Affordable Care Act, Healthcare IT systems must adapt quickly to new guidelines. Continued reliance on manual processes will only create additional unpredictability and cost pressures. Regulatory compliance demands are essential to the transparent and accountable functioning of the healthcare system.
Even with this market pressure, there is a way to lower costs and bring through more efficient processes. Automation is the first step to reining in costs. They include: charges incurred for medical management; claims processing; billing; coding; customer service; sales and marketing expenses; and compliance with Federal and State regulations.
IT is taking a more prominent role in business decisions overall. Because we cannot control the rapid pace of business, we should instead focus on managing the operational consequences and close any gaps. America’s hospital administrative costs are high, when compared with similar expenses in other countries – some as high as 25 percent. Rising operational costs are fast becoming unsustainable, making it difficult for companies to run their operations profitably.
The development of automation addresses challenges in client intent capture; benefits management; end-to-end traceability; monitoring and alerting; and development operations. The technology can be applied expeditiously and is proving to lower costs from 20 percent to 50 percent. These innovative solutions provide sustainable, predictable platforms for cost and quality challenges in the future and also provide immediate cost relief while increasing the bandwidth of staff to focus on quality healthcare.
Our healthcare system has faced unprecedented changes in the last few years. In essence we are charged with developing cutting edge data management innovation while facing price containment strategies, complexities, mergers, acquisitions and system overhauls. The clear solution is to automate processes, allowing us to be a step ahead of today and tomorrow in overall efficiency, accuracy and sustainability. In this way we can then be prepared for whatever November might bring.
Sandipan Gangopadhyay, President and COO
Dheeraj Misra, CTO