Artificial Intelligence (AI) grabs significant attention as a game-changer across many industries along with driving considerable value in health care. AI along with the Electronic Medical Record System has the capability to greatly improve on issues healthcare systems face, by effectively dealing with operational inefficiencies, lowering costs, automating workload, and remedying a number of issues that both medical staff and patients encounter. embedding AI in the healthcare system can lead to huge improvements in health outcomes and cost reduction. The value-based health care system is a reflection of patient-centered care, using the patient’s health outcomes as the numerator and follows the customer’s first solid principle.
Key challenges that increased the urgency for healthcare reform
A number of problems have been negatively impacting the healthcare system. These issues are reflected by escalating costs that we not only are unable to manage, but we cannot justify from the point of view of the value in healthcare they provide either.
Escalating healthcare costs are due to a number of factors.
• The costs rise due to demographic changes. It impacts the contribution of healthcare and cost structure due to the increase in care needs for chronic diseases. While aging patients, expect more value and a different, more personalized health care experience.
• The shortage of medical staff is one of the key drivers of high workload, rapidly becoming a bottleneck of our conventional health care system.
• The outdated cost reimbursement system and operational inefficiencies. The important determinants of inefficiencies are administrative, operational, and clinical wastes.
Artificial Intelligence (AI) and Value-Based Care
Value-based care has a significant impact on the technology decisions made by provider organizations and creates an environment that supports high quality coordinated care. When it comes to value-based care, there can easily be hundreds of quality measures but no specific roadmap when moving from volume to value-based care.
The value based care provider is greatly leveraging new technology to enhance the process of delivering care to patients at the right time. Artificial Intelligence for value based care should be part of the strategic plan of the organizations. AI for value based care is easily scalable as per requirements. AI can enhance the existing EHR system to better support the needs of the patients. AI technology is not to replace the EHR but improve the process by automating repetitive tasks.
• Solutions designed to support value-based care, that could be layered on top of current EHR or billing systems
• AI can easily help in tracking and managing patient flow and admissions records.
• Filter out a list of patients with specific problems and need acute care
• Engage with patients 24×7 and provide all the necessary details even when the staff is busy or unavailable.
Artificial Intelligence (AI) and Patient Engagement
Artificial intelligence (AI) in the healthcare sector is expected to grow from $667.1 to more than $7.9 billion by 2022, with a compound annual growth rate of 53%.
Due to this reason, big companies like IBM and Google are adopting deep learning techniques that can revolutionize the way diseases are diagnosed, treated, and even prevented to a great extent.
As healthcare organizations start to focus on consumer expectations in response to rising out-of-pocket costs and value-based reimbursements, providers will need to learn how to personalize the patient experience, reduce unnecessary expenditures, and maintain open lines of communication between office visits to keep patients as healthy as possible. This is why patient engagement, leveraged by Artificial Intelligence, is a viable solution that the healthcare industry needs.
When it comes to patient engagement, AI improves the experience by anticipating patient needs, providing faster and more effective outcomes. To successfully optimize AI for the patient engagement should rely on a strategy that comprises of:
• Engaging patients with conversational insights, and adjusting based on the situation to respond in real time.
• Teaming providers with AI-based guidance to provide patients with the next-best actions.
• Empowering patients to actively participate and engage in their health with intelligent guidance and support when required.
AI enabled patient engagement solutions to provide valuable insights in real time that helps patients proactively to manage their health. Such a high level of engagement leverages the power of AI in healthcare to drive meaningful and strong customer relationships. It also allows physicians and hospitals to reap the maximum benefit of technology to accelerate patient experience and satisfaction.
The current operating healthcare model usually follows the traditional approach. Both the organizational structure, unnecessary complexity of the core processes, and the reimbursement of the costs method, based on a volume-based healthcare model, are not sustainable in the modern century. It results in escalating costs that are not justifiable from the societal or any other perspective.
About Net Health
Net Health provides software and analytics for specialty medical providers across the continuum of care. Net Health’s interoperable solutions ensure compliance, improve outcomes, empower providers and inspire care. The company serves over 14,000 facilities, including 98 percent of the largest hospital chains, two-thirds of skilled nursing facilities and many leading hospice organizations and private practices. Net Health is a portfolio company of The Carlyle Group, Level Equity and Silversmith Capital Partners. www.nethealth.com.