Economic Opportunity for Automation in Healthcare
Published by : Industrial Automation
Incorporation of automation and artificial intelligence (AI) in healthcare enables the scope for innovations and reduced the project cost by 50%, which previously thought to be out of reach due to cost or time constraints. According to Grand View Research, the global artificial intelligence in the healthcare market is estimated to USD 31.3 billion by 2025, at a CAGR of 41.5% from 2020-2025.
Considering the current market scenario, the decline of Medicare reimbursements and the growth in payroll costs along with the adoption of artificial intelligence (AI) in the bask healthcare task and day-to-day service. The use of automation enhances the quality of service and smoothen the customer care experience along with the effective project implementations at lower costs.
Picture archiving and communication system (PACS) systems are using the integration of automation technologies to automate tasks such as worklist optimization and hanging protocols in radiology. Such implementation can enhance workflow and productivity for the operators. Such factors are expected to a positive impact on patient care as well as clinician and staff productivity to rise the profitability healthcare organization or the radiology operations.
4 Ways Economic Opportunity in Healthcare for Automation Can Make an Impact
Automation can have a big impact on many operational and administrative areas:
Faster data to enrich electronic health record (EHR) – Vendors are working to modernize the capabilities of EHRs to generate and extract data in as close to real-time as possible via new application programming interfaces and novel ways to harness data. Such efforts could reduce physician frustration and enhance patient care as practitioners get the information, they need at just the right time in just the right setting.
Improved Ordering – One of the most time-consuming processes for physicians is the ordering process within the EHR. In the past, a physician could scrawl an order onto a prescription pad in seconds, compared to the multiple clicks it takes to complete order now. Predictive technologies and AI can make a real impact to drive efficiencies of automation in healthcare.
Smarter Billing – Payers are working to automate decision-making, such as pre-authorizations, using machine learning. AI deployments in revenue cycle applications can help organizations generate bills more quickly, ultimately presenting bills to patients and families before they leave the hospital or practice. That’s critical, for instance, for high-deductible health plans with higher patient payments.
Adaptive Staffing – Health systems are beginning to use machine learning to adjust staffing to support fluctuating emergency department patient volumes and to reduce wait times in ambulatory services. By leveraging historical data across multiple sources, organizations can understand when to staff up to handle an influx of patients for the upcoming flu season or ramp up other support staff during warm weather to ensure a smooth patient experience in the emergency room.
In conclusion, it is expected that the automation vast potential in the healthcare sector to enhance innovation and development to enhance the overall healthcare infrastructure worldwide. Moreover, it has already started on the administrative side of healthcare and the future of automation in healthcare is boundless in the coming years.