Business Intelligence and Analytics

You may have an idea of what automation is and how it works in various industries, but simply put, automation refers to when you apply technology to minimize human input. In fact, many aspects of our daily lives have been improved greatly through automation—from transportation to agriculture to manufacturing. As a result, we have more cost-effective use of materials, better production quality, improved safety, reduced factory lead times and other various benefits.

With all that in mind, it's no surprise that the healthcare industry, which deals with human life on so many levels, is taking advantage of the proven benefits of automation to streamline processes and proactively help people as much as possible. Keep reading to learn what you stand to gain by embracing automation as a provider as well as what automated healthcare means for you as a patient.

Digital technology is evolving fast, and with it, the healthcare industry is undergoing unprecedented transformation. As a provider, you now have to cater to a growing population of tech-savvy clients who prefer electronic interactions over paperwork. This shift makes sense since patients are now accustomed to the flexibility and convenience of engaging with every type of business online or through their mobile phones 24/7. However, to keep up with evolving patient expectations as well as deliver outstanding care, you must stay on top of emerging digital technology trends, including advances in patient portals and business intelligence (BI).

In recent years, the healthcare industry has seen explosive growth in the use of artificial intelligence (AI) and it doesn't seem this trend shows signs of slowing down any time soon. In fact, recent market analysis predicts a compound annual growth rate (CAGR) of 46.2% in the coming years, with potential spending on healthcare AI reaching $67.4 billion by 2027.

For decades, the therapy and rehab industry has been leveraging evidence-based research as the basis for determining best practices. However, in today's modern world of electronic medical records (EMR) and regulatory agencies requiring mandatory reporting, "big data" is still a concept that healthcare professionals have been struggling to understand since it’s about so much more than just meeting your baseline documentation needs. With business intelligence (BI) and analytics, you can unlock crucial insights from your data as well as leverage this information to make more informed decisions regarding your practice's operational or financial health. Keep reading to learn more about the difference between business intelligence and business analytics. 

Recent statistics reveal that 96% of hospitals and 86% of physicians have adopted electronic health/medical records (EHR/EMR) to securely house as well as efficiently manage patient health information (PHI). While the data storage offered by EHR/EMR software is valuable, providers should also be able to access patients' medical history, document visits and track multi-disciplinary treatment plans with ease. In today's fast-paced healthcare environment, providers need technology-enabled solutions that can facilitate excellent patient experiences but also help them meet value-based care mandates all while still rebounding from the COVID pandemic. Keep reading to explore five different benefits that come from leveraging a comprehensive and customizable EHR/EMR system. 

Whether you're a provider looking for a better way to handle financial processes or a patient wanting a better payment experience, automated revenue cycle management and billing are vital to the continuity of the healthcare industry. It's also the source of reliable money flow that drives the delivery and innovation of care. Keep reading to discover why automated RCM matters in any business as well as learn more about claim denial management, patient collections and more!