Health Technology, Digital Healthcare
Article | August 21, 2023
Technology in the 21st century is the fuel that drives innovation and ease in almost every industry today. The healthcare sector isn’t far behind. In fact, the medical industry has taken the concept of the Internet of Things and took it to a new level altogether to reimagine the use of medical technology.
Imagine multiple devices like phones, cameras, GPS sensors, and computers interacting with each other through a seamless transfer of data. Now consider wearable medical devices. The exchange of critical medical information through a web of real-time data networks activates near instantaneous responses from doctors, nurses, and medical services. The aim is to anticipate the need for medical attention long before it is needed and remedy the concerns before they reach a critical stage.
That is exactly how the future of the Internet of Medical Things (IoMT) is shaping out to be.
How IoMT is Redefining Everyday Health?
IoMT is a next-generation solution that embeds cutting-edge monitoring and analysis of individual healthcare journeys through medical devices. The smart watch is the most recognizable wearable medical device that is used by millions of people daily to keep tabs on their vitals.
For instance, the Apple Watch series 6 maps blood oxygen levels, sleep patterns, ECG levels, and also reminds the user to wash their hands after returning home.
The market for healthcare IoT products is vast and is constantly expanding. The Tango Belt is a leading example of smart wearable technology that is revolutionizing elderly and disability care. The belt is designed to sense falls and deploy airbags to soften the impact. In addition, it alerts caregivers in the event of a fall. The belt also uses data analytics by collecting mobility data that is then synced to a smartphone app for displaying metrics.
Technologies that Empower IoMT
With the diverse tasks that medical devices must perform, applications exist across a wide spectrum, from artificial intelligence to 5G networks to the cloud.
Consider a pacemaker, for instance. Modern pacemakers are embedded with a multitude of technologies that communicate with each other to send critical patient data to physicians. A pacemaker is a bioelectronic implant that is placed in the chest to control the heartbeat. But a smart pacemaker goes a step further. It is equipped with wireless bluetooth technology that communicates with the patient’s wearable medical device. The smart device or phone will then transfer this data to physicians for check-ups and even alert doctors in the case of anomalies.
To Round It Off
IoMT will subsequently power all medical devices and usher in a future where technology forms the backbone of healthcare service delivery. Although wearable medical technology has been around for decades, the development of a streamlined communication channel between them has redefined their use. Smart medical devices are no longer just an aid but a source of vital individual medical data as well as a way to anticipate care and medical attention.
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Digital Healthcare
Article | November 29, 2023
The fall is a time of renewals and choices. It is also a time of so called “open enrolment” for health plans. It is the one time of year we can study and learn about the options offered through employers or government sponsored plans. Individuals and small business owners alike are also are faced with a myriad of choices with confusing and often contradictory language promising lower premiums with higher out of pocket costs for covered services subject to deductibles. What does it even mean anymore when your monthly premiums exceed your pay check and you still have to pay for your colonoscopy or your insulin? Where is it all going?
Let’s imagine you twist your ankle playing basketball. You might go to an urgent care, receive an X-ray, probably be examined by a non-physician, and then referred to your primary care, who can’t see you for a few weeks but eventually sends you to an orthopaedic who takes another X-ray and treats your injury. Weeks have passed, multiple visits, time out of work, and co-pays, not to mention the out-of-pocket fees associated with imaging and perhaps a $100 ace bandage. What stops you from going straight to the ankle specialist in the first place? First, we have become conditioned to follow the directions dictated by the insurance companies, even when restrictions are not in place, patients have been convinced that stepping out of line will make all insurance promises null and void resulting in catastrophic bills and financial ruin. Second, the doctors and their office staffs have been conditioned to deny entry to any patient who does not have the proper referral, authorization, or identification. There are dire consequences for both if the insurance rules are not followed and fear keeps both sides aligned.
The past two decades have seen an explosion of healthcare costs. Health insurance has become the single biggest line item second only to payroll for most businesses. It is no coincidence that as the government increased its role as payor with state subsidies, the prices have gone up. Much like college tuitions, when loans are easy to obtain and guaranteed by federal support, there is little to deter those in charge from increasing the price. After all, everyone is doing it, it must be OK, and even if students end up in debt, it will be repaid because they have received the value of a great education. Right? But unlike higher education, healthcare is a necessity. We cannot avoid it, and there needs to be a reliable mechanism in place to guarantee access.
Ironically, as charges and prices have continued to escalate, payments to doctors have diminished. Why medicine is the only service industry where there is no transparency is truly astounding, especially since the there has been no increase in so called “reimbursements” for decades. As physicians, we have been complicit, being fully aware of the discrepancies between what is charged and what a patient’s insurance will pay. Even as patients began to have higher deductibles, and therefore higher out of pocket expenses, we continued to follow the rules, asking insurance permission to collect payment from the patient. It is not surprising that bad debt accounts for over 50% of most account receivables and why over 70% of doctors are now employed by hospital networks or private equity, who not only go after patients, but benefit from the repricing that occurs when insurers pay a negotiated amount as opposed to the charge. In other words, we pay more not just for less, but for nothing.
But what if we twisted our ankle and went directly to that specialist and paid out of pocket a transparent price? What would it take for that to happen? Not much, the cost of care is predictable, and because payments have always been decreasing, most physicians have learned to be economical. Plus, out of pocket costs are capped by federal law, so no patient is really responsible for catastrophic bills. Charges inflate to cover overhead, but if payments were guaranteed and immediate, then the cost of doing business goes down. Add technologies like telemedicine to a practice and you have increased patient access to a doctor without adding more personnel. Direct pay doctors are emerging all over the country and have consistently offered better access and more affordable care. The bar is also being set by independent surgery centers and imaging centers who offer better outcomes at lower costs. Perhaps motivated by prohibitive pricing, better options have emerged that have moved patients away from expensive operating rooms to safe, office-based procedures. Even cutting-edge cancer therapies can be delivered at home, preserving more of the healthcare dollar for medical care rather than the complex system built to manage it.
Competition and choice inevitably drive prices, but in a monolithic system the price is not negotiated, but instead it is set by only a few, in this case the big insurers. Small businesses cannot compete when bigger companies come to town. Eventually, the local hardware store gives way to a national brand, and the consumer is left with fewer choices and eventually higher prices. Amazon disrupted this equation by creating a marketplace for individual buyers and sellers. The convenience of finding a trusted brand, no longer available locally, is irresistible and the reason why we became loyal consumers. Healthcare is no different. Trust exists implicitly between a physician and patient, because it is an authentic, empathetic, and logical relationship. Trust does not exist between a patient and their insurer, on the contrary it is an unsympathetic business relationship without transparency or consistency. Few doubt the insurance company’s top priority is the premium, not the patient. Creating a direct relationship between the doctor and patient is a common-sense approach that serves both stakeholders well, and requires merely a fair and affordable price. But do doctors have the capability or the will to do it and if so, can the rest of the system follow?
Never in the history of modern medicine have physicians been more dissatisfied. US healthcare used to lead the world in innovation and outcomes, now we struggle to break the top thirty. We may have the most brilliant doctors and scientists with access to the best resources, but the need to maximize profits while catering to special interests, be they commercial or political, has led us to favour certain therapies over others despite marginal proven benefits. Doctors have little autonomy and less authority; prescribed treatments are routinely denied by insurance companies without a second thought or appropriate peer review. In fact, insurers even renamed us “providers”, a term used to by Nazis when referring to Jewish doctors to devalue them professionally. Over 56% of physicians are burned out, nearly all report moral injury and as hospitals have systematically replaced doctors with non-physicians with limited training, we have watched the standard of care deteriorate. It is no wonder we have witnessed the single biggest loss in life expectancy since WWII. The prognosis is grim, but there are solutions.
We need to reinvent healthcare by removing the middleman. We don’t have to set the price, but we can make it transparent so patients can decide for themselves if it is worth the inconvenience, the delay, and the co-pay to use insurance or just pay directly. Health savings accounts are tax deferred and can cover an out-of-pocket maximum in just a couple of years. Paying for care means there are no surprise bills or out of network costs, because there are essentially no networks and therefore no need to follow restrictions. You’d be hard pressed to find a doctor or hospital unwilling to accept an immediate cash payment, especially when it costs nothing more than the service provided. There are no billing cycles, or claims to prepare, no up coding, or authorizations. Doctors free to care for patients, patients treated individually and not subject to protocols designed to maximize charges. There are literally thousands of direct pay primary care and specialists now available all over the country and they are building alliances with likeminded people providing imaging, ancillary services, surgery centers, and prescriptions all at fair market prices. More and more employers are moving toward medical cost sharing plans that not only lower the cost of care but the cost of administration. Even the biggest payor, namely the government, sees the benefit of price transparency and is piloting models of direct contracting.
We will always need coverage for those unexpected events, emergencies, or hospital-based services, but all the rest - doctor visits, screening tests, and outpatient procedures - are easily affordable. After all, do we use our car insurance to pay for an oil change? If we did, the cost would be prohibitive and few of us would drive. But health insurers have lost our trust, they no longer cover necessary services and no longer honour contracts with physicians or patients. It is time to offer another option and let the patients and doctors get back to the real business of medicine.
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Healthtech Security
Article | August 31, 2023
Electronic medical records (EMR) conferences are vital for professionals who wish to stay updated on latest healthcare innovations. Join industry experts to tackle challenges and seize opportunities.
Electronic medical records (EMR) are digital versions of patients’ medical information. These can be managed, accessed, and shared by authorized healthcare providers within a single healthcare organization. Staying informed with the latest updates on EMR conferences is crucial for healthcare providers, administrators, and IT professionals responsible for implementing and maintaining these systems. Attending these conferences offers the opportunity to keep up with the latest trends and technologies, network with experts, earn continuing education credits, and enhance professional development in the rapidly-evolving healthcare landscape.
Explore the EMR conference schedule and highlights for the healthcare industry, featuring the best EMR conferences for medical professionals with a focus on digital health, electronic patient records, and other notable advancements. Attend these top events to stay informed and connect with industry experts:
1.MedInfo 2023
July 8 to 12 | Sydney
MedInfo, a health informatics event with the theme ‘The Future is Accessible’, will take place at the International Convention Centre (ICC). The conference aims to explore digital healthcare beyond borders and will feature 700 keynote speakers addressing over 3,000 delegates from more than 50 countries. The event will cover a diverse range of topics, with particular emphasis on nursing and digital health.
2.e-Health 2023 Conference and Tradeshow
May 28 to 30 | Toronto
e-Health, a premier event for Canadian digital health professionals, will be held at Beanfield Centre. Committed to making a difference in health and healthcare delivery, this annual conference & tradeshow has remained a vital epicenter of digital health discussion and debate since 2000, attracting a diverse line-up of in-demand speakers, expert panelists, presenters, and leading-edge exhibitors. Attendees can expect a wonderful platform to learn, connect, and engage with peers both nationally and globally, along with networking and knowledge-sharing opportunities.
3. Digital Healthcare World Congress 2023
May 23-24 | London
Digital Health World Congress 2023, slated to take place at Kensington Conference & Event Centre, will feature discussions on various medical and mobile technologies such as e-health, m-health, telehealth, telemedicine, genomics, biotech, life sciences, healthtech, genetics, pharma, and healthcare IT. This event will be crucial for healthcare professionals looking to gain insights into the latest developments in electronic medical records.
4. 11th International Conference on Internal Medicine & Patient Care
July 20-21 | Florida
The conference aims to explore the latest developments and advancements in the field of internal medicine through the theme of ‘Current Research and Advances in Internal Medicine’. It will cover topics such as dermatology, cosmeceuticals, and laser treatments, with a significant scientific session on ‘Electronic Medical Record and Disease Management’. Attendees can take advantage of opportunities to present their research, learn about career development, and gain insights into the latest tools & technologies. The conference promotes collaboration among young researchers and offers a chance to interact with peers and established leaders globally.
5. openEHR Conference
June 6 | Barcelona
openEHR aims to bring together healthcare professionals, medical informatics experts, care providers, researchers, authorities, regulators, and service providers. The event's theme 'No time to waste: building the lifelong, patient-centric EHR,' emphasizes raising awareness about the current state of semantic interoperability in healthcare. The objective is to enable different healthcare systems and applications to share and utilize patient data seamlessly and accurately, irrespective of the technology used, to create patient-centric electronic records that can be accessed and used throughout a patient's lifetime.
6. Oracle Health Conference
September 18-20 | Las Vegas
Attend the Oracle Health Conference to discover how Oracle Health is revolutionizing healthcare technology. Formerly known as the Oracle Cerner Health Conference, this event features innovative product demos, education sessions on industry challenges, and networking opportunities with like-minded peers. Gain insights into how technology can improve patient outcomes, enhance clinical efficiency, and drive innovation in healthcare organizations.
7. Electronic Medical Records Boot Camp
August 21-22 | Virtual
The upcoming Electronic Medical Records Boot Camp invites attendees to gain valuable insights into biostatistical methods for analyzing EMR data. This intensive two-day program features seminars and hands-on analytical sessions, providing attendees with an overview of electronic health data opportunities, statistical challenges, and the latest techniques related to electronic medical records. The program aims to help attendees leverage electronic medical records for better healthcare outcomes.
8. The Healthcare Innovation Congress
June 20 – 22, 2023 | Washington, DC
The Healthcare Innovation Congress (thINc360), formerly known as The World Health Congress, aims to bring together executives from a wide range of healthcare sectors. Over the course of three days, the conference will offer tailored educational experiences specifically designed for executives representing healthcare professionals, health plans, and hospitals.
9. Digital Health Transformation Summit 2023
May 22-24 | Chicago
This event aims to highlight how innovation is driving change across the healthcare industry, leading to gains in quality, affordability, accessibility, and sustainability. The panel of Modern Healthcare's Top 25 Innovators will discuss the latest innovative projects, products, and developments in healthcare, including the use of AI to leverage the abundance of patient data from EHRs and digital tools for improved diagnoses, treatments, and disease prevention.
10. World Medical Innovation Forum
June 12-14 | Boston
World Medical Innovation Forum (WMIF) is a global event that brings together leaders in healthcare investment, technology, manufacturing, and regulation at Westin Boston Seaport District. The forum, presented by Mass General Brigham and Bank of America, aims to advance patient-benefitting technologies by exploring the promise of new patient care and addressing the challenges to their development and investment. The ultimate goal is to find solutions to medical, operational, and economic challenges to benefit patients, providers, and healthcare organizations at the earliest feasible time.
11. Bits & Pretzels Healthtech
June 20-21 |Munich
Conference will focus on technology-driven healthcare innovation and its potential to enhance patient outcomes. The conference will explore the patient journey from prevention to aftercare, with a focus on technology's role in driving innovation. Attendees will examine how new technologies such as AI, bio 2.0, and IoT ingestible can improve healthcare delivery.
12. IHI Patient Safety Congress
May 22-24 | Maryland
Organized by the Institute for Healthcare Improvement (IHI), the event, which will take place at National Harbor, aims to bring individuals together who are passionate about ensuring safe and equitable care for patients in all settings, including hospitals, outpatient facilities, and homes. It will feature engaging speakers who will share their vision for smarter, safer care, and attendees will have access to practical workshops, which will provide real-world insights that can be implemented within their organizations. This event is a must-attend for anyone interested in shaping the future of patient safety.
13. Intelligent Health Conference 2023
June 14 | Pilestredet
The Intelligent Health Conference 2023 is an event organized by Intelligent Health Initiative at OsloMet – Oslo Metropolitan University to provide an update on the latest developments & research in the field of digital health. The event will bring together experts & researchers in the field to discuss the use of digital technologies such as AI and wearable devices for improved health services. The conference will focus on various technologies that are becoming an integrated part of daily life, including mobile health and applications, electronic medical records, and telehealth as well as telemedicine.
14. HealthTech Innovation Days
October 24-25 | Paris October 27 | Virtual
The fifth edition of HealthTech Innovation Days (HTID) event, organized by the non-profit organization HealthTech Care and initiated by France Biotech, aims to facilitate faster delivery of innovative products to patients by providing a platform for European life sciences stakeholders. The HTID event provides various activities to facilitate the progress of innovation, such as the chance to engage with knowledgeable professionals, participate in panel discussions led by experts from around the world, and obtain valuable insights into critical subjects.
15. Digital Health Innovation Summit
June 6-7, 2023 | California
The 23rd rebranded edition of Digital Health Innovation Summit, organized by World BI, will take place at Hyatt Regency San Francisco Embarcadero Waterfront Hotel. The event aims to provide a unique opportunity for professionals in the pharma, healthcare, and medtech industries to connect with thought leaders, explore the latest trends in digital health technologies & advancements in electronic medical records, and gain valuable insights to enhance patient care. With the participation of clinicians, scientists, entrepreneurs, biomedical engineers, patient advocates, and top technology providers, this summit will serve as a crucial gathering for professionals driving innovation in healthcare.
Wrapping Up
Participating in electronic medical records conferences can facilitate professional development, accrue continuing education credits, and help individuals stay abreast of the rapidly-evolving healthcare landscape. EMR conferences frequently offer focused conference tracks or sessions dedicated to various EMR-related topics such as implementation, data analytics, interoperability, privacy and security, and patient engagement. Participating in these specialized tracks can provide attendees with a more targeted and comprehensive learning experience, and can contribute significantly to improving the quality of healthcare delivery, enhancing patient outcomes, and driving innovation in the healthcare industry.
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Digital Healthcare
Article | February 19, 2022
As competition for patients intensifies, more hospitals and health systems are embracing a consolidated, single-bill approach for services rendered. Creating a single bill for the patient’s portion of inpatient or outpatient services can help eliminate confusion and reduce the ill will that frequently results when patients receive multiple invoices for a single care event. Yet incorporating anesthesia charges into a consolidated invoice is often problematic due to the unique nature of the anesthesia billing compliance.
Anesthesia Billing Service Hurdles
A few weeks ago, I met with the CEO of a 300-bed hospital. We discussed anesthesia billing, and he explained that his hospital traditionally outsourced this portion of its billing due to the more complex nature of anesthesia coding and the need to collect anesthesia minutes for billing. Unlike most inpatient services, anesthesia charges are not directly derived from CPT codes but instead utilize minutes and modifiers unique to the specialty.
That means coders must use a CPT crosswalk to account for ASA codes, base and time units, emergency- and physical-status monitors, split anesthesia units reflecting CRNA involvement, and other specialty-specific nuances. Most coders and hospital billing staff are not trained in these complexities, and hiring and retaining capable staff in today’s competitive market can be difficult. Moreover, many billing platforms are simply not equipped to incorporate all the variables necessary to produce an accurate anesthesia bill.
As a result, producing a consolidated patient bill that includes anesthesia is tricky. Yet leaving anesthesia off a single bill can undercut its value since, after facility and surgical charges, anesthesia often is one of the largest cost items patients incur. Fortunately, we at Change Healthcare know how to roll anesthesia charges into existing hospital billing systems to produce an accurate and timely single patient bill.
Helping to Reduce Costs
The benefits of consolidated billing extend beyond an improved patient experience. Producing just one bill reduces costs and repetition at both the front and back end of the revenue cycle management process. It can also ease staff burden when collecting on self-pay accounts, since there’s only one bill per patient. Finally, consolidated bills can help increase revenue by simplifying collections when patients present for follow-up care.
Here’s an example: When the patient comes back for post-surgery physical therapy, a hospital employee at the registration desk can remind them that they still owe $150 for anesthesia and ask if they’d like to take care of that now. In my experience, patients usually hand over their credit card and settle their bill on the spot when asked at the time of care about a balance due.
System-Agnostic Billing Across Hospital Platforms
Change Healthcare has a long history of providing full-service, outsourced anesthesia-billing services to hospital and health-system clients. Unlike most other billing vendors, we’ve developed what we call a system-agnostic approach. That means we’ll provide billing services on our proprietary system or on the hospital’s existing billing platform, regardless of type, to generate accurate anesthesia-billing results.
In practical terms, we’ll function as part of your billing team and use the same system your coders and billing staff rely on to generate anesthesia charges that can be included in a single patient bill.
System-agnostic billing also allows us to provide clients with custom anesthesia reporting that wouldn’t otherwise be available with an outsourced billing solution. This helps clients gain far greater visibility and insight into anesthesia-billing charges. And by incorporating our anesthesia coding and billing capabilities into your existing billing system, you’ll be spreading the platform’s fixed costs across a greater number of departments.
The bottom line? It’s not a heavy lift for us to virtually embed our trained anesthesia coders and billing professionals into your system. Our specialists will review your existing platform and provide, at no obligation, a return-on-investment analysis that can help you determine whether outsourcing anesthesia billing to capture claims on a single hospital bill makes sense for you.
We expect the answer will be yes. Not only will you enjoy greater system efficiencies, but you’ll be in a position to produce a single bill that truly reflects the entire episode of care.
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