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| The Monthly Pulse |
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| Hospitals look for immediate return on investments in tough operating environment
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| The Story |
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| Amidst growing staff shortages and an aging population, hospitals are seeking solutions that will deliver the quickest possible return on investment. This includes tools that can help address their most pressing issues, including technology to help address workforce shortages, streamline administrative tasks, and provide care for patients at home. Automation and artificial intelligence are especially of interest for many hospitals. |
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| What You Should Know |
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| Healthcare leaders recognize technology’s ability to shift certain tasks from humans to machines, which could help solve some of the issues presented by staffing shortages. Additionally, programs that allow patients to receive acute care in their home environment can also help to alleviate the burden on healthcare systems that are already stretched thin. Yet, with nearly half of all hospitals finishing 2022 with negative margins, most decision makers are only willing to invest in proven solutions promising clear and immediate value.
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| How to Use Technology to Ease Physician Burnout
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| The Story |
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| Physician burnout has become an increasing issue since the COVID pandemic, but forward-thinking healthcare systems are exploring new ways to reduce the toll put on their doctors. Many hospitals and healthcare centers are deploying new technology to alleviate the administrative burden on their physicians. AI is at the forefront of these solutions and could significantly reduce the workload for doctors to help prevent burnout.
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| What You Should Know |
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| While there are many solutions available to explore, some of the most promising tools include systems which record doctors’ interactions with patients and generate notes based on the visit. This prevents doctors from having to type or dictate notes; instead, they simply review the AI-generated notes and modify them as needed. Other solutions include wearable monitors for patients with conditions such as heart failure, which can report data directly to physicians, as well as EHR optimization tools that can help field patient messages and formulate AI-generated responses that can be reviewed and amended by the physician.
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| Don't just survive; focus on thriving even in these tough economic times |
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| The Story |
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| While financial challenges remain top-of-mind for hospitals, some are still thriving in spite of challenging economic circumstances. Those that are performing best are taking two specific approaches: they’re becoming more creative with hiring and they’re addressing issues like disparate IT systems to streamline workflows. |
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| What You Should Know |
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| As workforce shortages continue to be the biggest concern for healthcare organizations (and the biggest barrier to increased revenue), confronting the challenge head-on with creative solutions is what will allow certain organizations to thrive. Some organizations have recruited retired healthcare professionals and students to address staffing shortages, for instance. Others are finding IT partners who can address inefficiencies in their systems, such as disparate point solutions and apps that lead to clunky and cumbersome workflows. Finding a true IT partner who can listen and observe while also offering expert solutions is key to operational improvement.
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| Leadership Reflections |
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Artificial Intelligence
I don’t know about you, but Artificial Intelligence (AI) both excites and terrifies me. With each passing day, AI resources continue to be more accessible, and considering the rapid pace of implementation, I already feel so behind. In my research, I’ve seen traction in automation and it’s not too much of a leap to consider the potential AI has to revolutionize healthcare. However, it’s not without challenges.
Some advantages:
- Improved Diagnosis: AI has the ability to analyze vast amounts of data and identify patterns that may not be immediately apparent to human doctors, leading to more accurate and timely diagnosis.
- Personalized Treatment: AI algorithms can be used to create personalized treatment plans based on a patient's medical history, genetic makeup, and other relevant factors which can lead to more effective treatment and better outcomes.
- Increased Efficiency: AI can automate routine tasks, such as medical record-keeping, which can free up providers to focus on patient care, leading to more efficient and cost-effective service.
Some challenges:
- Data Quality: AI algorithms are only as good as the data they are trained on, so if the data is biased or incomplete, the AI algorithm may produce inaccurate or unreliable results.
- Lack of Transparency: It may be difficult to understand how AI algorithms arrive at their conclusions, which can make it challenging for doctors to interpret results and make informed decisions.
- Patient Privacy: AI requires vast amounts of data to operate effectively, which can raise concerns about patient privacy. If the data is not properly secured, it may be vulnerable to breaches or misuse.
Considering the opportunities to improve patient outcomes, increase efficiency, and reduce costs, it seems worthwhile to seriously consider if and where AI can be implemented safely. If done while addressing challenges like those outlined above, healthcare systems can work toward maximizing the benefits of AI while minimizing the risks.
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| The Healthcare Innovation Congress |
| Tues., June 20 - Thurs., June 22 |
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| Front-End Focus Drives Revenue Cycle Success |
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| John Muir Health and AI: A Case Study in Managing Costs |
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| American Hospital Association Leadership Summit |
| Sun. Jul. 16 - Tues. Jul. 18 |
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