Medical Automation Services – A Boon to Healthcare Sector
Role of Data has changed over the years. Be it an IT service provider or a healthcare market leader, data has brought businesses the freedom to know, analyze and innovate better while constantly improving what they have already got. Electronic health records, predictive analysis, and IoT monitoring have helped organizations obtain a holistic view and alter the development of both; their preventive and marketing strategies.
With covid-19 stepping into the future along with us, the need for innovation in healthcare is more than ever. Consumers are demanding better quality care and smarter digital healthcare solutions.
Next vital step to advancement in healthcare technology is the adoption of medical automation in healthcare centers. This is one.
- The healthcare automation market is projected to accelerate at a healthy CAGR of 8.4% to top a market valuation of US$ 88.9 Bn by the end of 2028.
- As per 2020 McKinsey report on automation, the healthcare sector had a 33% technical potential for automation.
- RPA, one of the leading emerging technologies, is poised to reshape healthcare overall and create between $350 billion and $410 billion in annual value by 2025.
- As per Everest Group research, the Intelligent Document Processing (IDP) industry is expected to grow 70-80% over the next two years.
Technology has transformed how we find, prevent, and cure diseases, and many revolutionary changes have happened, but still, there are gaps. While the changes are happening, hurdles on the way must be addressed to successfully attain the sole purpose of these technology implementations.
Medical automation services - Addressing gaps in the healthcare organizations
Inefficiency in clinical diagnosis and decisions: AI being trained on vast datasets helps pace up the research process, identify best practices in diagnosis, and improve clinical treatment decisions. One of the significant advantages of automation in healthcare is it supports evidence-based practice. Adoption of IoT solutions is helping organizations transform legacy health parameter monitoring devices into connected devices for better and definitive diagnosis.
Inaccuracy and errors: Cost of Medical errors beared by hospitals is enormous. AI application development with the capabilities to detect such alarming insights or errors has made it possible to prevent death by error. Additionally, utilizing data engineering for patient vitals analysis and implementing modern technologies such as AI and ML is helping providers to distinguish and recommend proactive health measures to each patient.
Poor patient engagement & experience: Doctors are able to get real-time information about patients' health conditions and their daily activities, sleep-wake patterns, and eating habits via wearables and trackers. Patient awareness has spiked; they are now easily accessing all the information on mobile devices.
Communication gaps: Automation in healthcare facilitates efficient communication between provider and consumer. For example, Chatbots answer patients' queries and allow appointment scheduling, and surveys are conducted with the help of AI among other medical automation services use cases. Telehealth enables unlimited access to health services anywhere, anytime.
Affordability: It might not seem like it, but manual processes cost you much more than automation. Automation removes operation inefficiencies and improves the productivity of medical professionals and hospital administrators by reducing overtime and errors, and also saves expanses of misdiagnosis reimbursements.
'According to healthcare industry research organization CAQH, the industry has reduced administrative costs by $122 billion as a result of automation and could save an additional $16.3 billion by fully automating some common tasks.'
Important areas where medical automation services plays a transforming role are:
- Billing & Scheduling
- Data Extraction & Management
- Revenue Management & Claims Processing
- Supply Chain Activities
- Audits & Regulatory Compliance
- Healthcare Analytics
- Asset Tracking
- Post Treatment Care
- Request & Grievance Management
Technology trends that are transforming healthcare in 2022
As the year rolls forward, the adoption of automation in healthcare will continue to increase in every area. It's time we take a holistic view of our processes, possibilities, and potential and deliver exceptional patient and employee experiences utilizing these evolving technologies. Popular automation trends and some of their use cases in healthcare are:
- Robotics Process Automation (RPA): Appointment scheduling, Compliance, Audits
- Internet of Medical Things (IoMT): Chronic Disease Monitoring, Advanced Analytics, Facility Management
- Extended Reality: Surgery Simulation, Training, Diagnosis (3D models)
- Intelligent Automation (IA): Insurance Processing, Customer Service, Regulatory Compliance
- Artificial Intelligence(AI): Drug Discovery, Automated Diagnosis, Patient Data Analytics
- Healthcare Privacy & Security: Threat Detection, Patient Experience, Information Safety
- Remote Patient Monitoring (RPM): Heart Disease, Chronic Disease, Reduce Hospital Visits
- Big Data & Analytics: EHRs, Fraud Detection & Prevention, Supply Chain
- Intelligent Document Processing (IDP): Patient On boarding, Research & Development Documentation, Hospital Information Systems
- Telehealth: General Healthcare, Orthopaedics, Emergency Care
COVID-19 has changed patient expectations and preferences on health services consumption. It is imperative for healthcare organizations to strengthen their readiness accordingly to achieve higher member satisfaction and become leaders in their field.
Through our deep technical knowledge, innovation capabilities, and proven industry expertise, we add value to your digital strategy while focusing on your long-term business goals. Connect with our experts to discuss your digital transformation ideas.
References:
https://hitconsultant.net/2021/01/27/how-automation-is-key-to-the-future-of-healthcare-operations/
https://dhge.org/about-us/blog/automation-in-healthcare
https://www.globenewswire.com/news-release/2022/06/23/2468360/0/en/The-Healthcare-Automation-Market-Is-Projected-To-Accelerate-At-A-Healthy-CAGR-Of-8-4-To-Top-A-Market-Valuation-Of-US-88-9-Bn-By-The-End-Of-2028.html
https://www.mckinsey.com/business-functions/operations/our-insights/making-healthcare-more-affordable-through-scalable-automation