BI set to soar By Vik Torpunuri, CEO, CentraMed
Implementing business intelligence (BI) will be a top priority for hospitals and health systems in 2012, driven in part by coordinated, patient-centered accountable care, making clinical and business analyses and reporting essential. For decades, healthcare has underutilized BI, traditionally deemed
a costly, time-consuming capital expense that often yielded disappointing results due to poor momentum. Thanks to accelerated BI product development and technological improvements, adoption will be driven by:
• New architecture platform: BI is now delivered as a software as a service, meaning vendors, not users, are responsible for updating and maintaining the solution and the e-infrastructure it runs on.
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• Low price point: Organizations pay a monthly subscription fee – a fraction of fi rst-generation BI costs − that allows users to experience ROI within days and months of rollout. • Increased automation and interoperability: As providers implement EHRs to comply with meaningful use, they will connect clinical data with financial information from all departments, including silo units such as materials management. Aggregating data from uncommon sources will enable enterprises to view and analyze data globally to improve quality, identify variances, develop best practices, change behaviors of employees and clinicians, and strengthen physician alignment in the pursuit of delivering higher quality, cost-effective care. • Cost of care exceeds payment: Hospitals will lose money if they are paid less than the cost of providing care. They will soon feel the impact of 30-day readmissions,
continued decline in Medicare reimbursement and low payments when the uninsured gain coverage. Providers will turn to BI to better manage the revenue cycle and make more informed spend-management decisions to control costs of labor, supplies and services. • Increased recognition of professional services: Unlike early BI adopters, providers are more aware of collaborating with service experts to maximize the use and value of BI solutions more effectively. BI will be inclusive, supporting the hospital’s business model.
Patient engagement is a business imperative
By Michael O’Neil, founder and CEO, GetWellNetwork
With value-based purchasing, bundled payments and accountable care quickly approaching, patient engagement has become a business imperative for providers. Technology that fosters the advance of patient- centered care, aids in the patient experience and improves outcomes will be a top priority throughout
2012 and beyond, and will be a key differentiator for hospitals and health networks. With the growing pressure for hospitals to both better inform patients and deliver outcomes, interactive patient care (IPC) technology will be a tool of choice. It has emerged as, and will continue to be, one of the most effective ways to proactively inform and engage patients and families throughout the patient journey, and has also proven to improve efficiency, operations and even increase revenue. Healthcare institutions are, more than ever, looking for ways to create new and innovative patient experiences and educational environments from pre-admission to post-discharge. IPC is based on the premise that a more engaged patient is a more confident patient with better health outcomes. IPC technology provides a host of resources that engage, inform and empower patients to participate in their care while at the same time supporting staff with tools that facilitate more efficient and effective care.
Using the patient’s bedside TV, patients are
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offered an extensive amount of services, from access to award-winning educational content on their condition, the ability to submit feedback and make requests, to choosing the newest Hollywood movies to watch and connecting with friends and family outside
the hospital walls. These capabilities support the patient throughout the healing process in the hospital and at home post-discharge, allowing them to remain engaged and active in their own care process.
By engaging patients in areas such as education, patient safety, service management and discharge preparation, hospitals can improve care measures performance, lower cost per case, provide workflow efficiencies for patient care providers and provide an overall more satisfactory patient experience.
10 January 2012
HEALTH MANAGEMENT TECHNOLOGY