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Technologies in the Healthcare Industry: Advancements Fueled by the Pandemic

BINEESH MATHEW | December 9, 2020 | 1789 views

The pandemic-fueled technology adoption has enabled the healthcare industry to address the challenges, including cybersecurity, telehealth, invoicing and payment processing, patient experience, effective payment model, and big data. The responses to the unusual COVID-19 pandemic has sped up the adoption of new digital technologies in the industry. It has also fueled advancements in health technology. From the start of 2020, these advancements transformed the healthcare industry into a next-gen one by accelerating digitization of their internal and external operations by two to three years.

This surprising impact of technology in the healthcare industry has brought out unexpected competition between the key players in the B2B healthcare market. Whatever the field, adapting yourself to modern changes is the best strategy to thrive. Get yourself updated according to the changes or get yourself outdated is the new norm in the healthcare industry.

The following trends and advancements in technology in the healthcare industry due to the pandemic in 2020 show that healthcare providers are always searching for new ways to improve their productivity, performance, and efficiency. These were the need of the hour during the pandemic, for them to surge ahead of their competitors.

•  Telemedicine

•  Artificial Intelligence (AI) in healthcare

•  The Internet of Medical Things (IoMT)

•  Supply chain management technology

•  Privacy issues

•  AR/VR/MR in Healthcare

•  Blockchain

•  Digital marketing trends in healthcare

 

This article looks into the major innovations, advancements, and trends brought out by the global pandemic in 2020 in the healthcare industry.

 

Pandemic-fueled Advancements

One of the biggest challenges faced by the healthcare industry in the US today is its digital capacity to effectively engage consumers and make them stay healthy. This can include helping people to prevent getting infected by various diseases such as COVID-19 and effectively managing various other chronic conditions. This is where technology in the healthcare industry has a major role to play.

Due to the latest advancements in technology, the healthcare industry was already evolving but the COVID-19 pandemic accelerated this transformation dramatically. McKinsey reports that US$250 billion was spent on technology in the US healthcare industry to shift the industry into a virtual care model in the wake of the pandemic. Also, a study by FAIR Health, a non-profit group, says the increase in telehealth claims in the US is 4,000% in 2020.

Here’s a detailed look into the above-mentioned advancements, innovations or trends brought out by the pandemic in the industry.

 

Telemedicine

Had the world ever thought that it would be possible one day for doctors to remotely examine the health of patients via a smartphone or a computer? Telemedicine, a new trend in technology in the healthcare industry, addresses many challenges in the industry. Improved technology in the industry has made telemedicine easier, even for people, who are not computer savvy. Telehealth services are now provided through different telemedicine apps.

In the light of the pandemic, rather than in-person visits, 43.5% of primary medical visits were done using telehealth methods in April 2020 in the US. The major benefit of telemedicine is that it reduces contact between healthcare workers, patients, and other patients. This reduces the chances of the spread of infectious diseases.

Reports say that 71% of Americans considered telemedicine useful at the beginning of the pandemic. This trend is expected to continue in the coming years too. With the pandemic, telemedicine saw an immediate boom compared to previous years. This boom in telehealth is projected to break US$185.6 billion by 2026.

 

Artificial Intelligence (AI) in healthcare

Artificial intelligence, a new trend and advancement in technology in the healthcare industry, had a critical role in fighting the pandemic. AI played a major role in areas such as pandemic detection, vaccine development, facial recognition with masks, thermal screening, and analyzing CT scans. AI is becoming the new operating technology in the healthcare industry.

 

Major AI healthcare applications

Healthcare providers will benefit a lot from AI-driven tools as AI technology in the healthcare industry has become a transformational force. Machine learning algorithms and software in AI will revolutionize the use of technology in the healthcare industry and the science of healthcare in the coming years too. AI will unify machines and humans through the brain. Some of the AI technologies in the healthcare industry, which are very relevant, are machine learning, natural language processing (NLP), rule-based expert systems, physical robots, diagnostic and treatment, patient engagement and adherence, and administrative applications.

 

Benefits of AI in healthcare and statistics

AI addresses many challenges that present technology in the healthcare industry cannot tackle. Better data-driven decisions, increased disease diagnosis efficiency, reduced treatment time, easy integration of information, reduced costs, increased patient satisfaction, fewer errors, and easier payment options are some of the benefits AI-assisted technology in the healthcare industry can provide.

According to an analysis by Accenture, by 2026, clinical AI health applications are expected to create approximately US$150 billion for the US healthcare economy as annual savings. Also, the US AI health market is expected to reach around US$6.6 billion by 2021.

 

The Internet of Medical Things (IoMT)

Nowadays, medical interactions involve some sort of equipment or device; it can be a glucose monitor, blood pressure monitor, or even an MRI scanner. It may not be a surprise now that, according to a 2020 Deloitte report, the available number of medical technologies are around 50,000. The internet-connected devices, which are known as IoMT tools, are transforming the healthcare and technology in the healthcare industry.

 

What Is IoMT?

The connected infrastructure of software applications, medical devices, and health systems and services are the IoMT. This has emerged by combining IoT development with telehealth technologies and telemedicine.

 

Potential of IoMT in healthcare and statistics

Lower costs for care, fewer mistakes, and more accurate diagnosis are the potential capabilities of IoMT. IoMT paired with various smartphone applications allows patients to send information regarding their health to doctors and get treated for diseases. This type of technology-driven healthcare not only improves patient experiences but also reduces the cost. IoMT, the new trend in technology in the healthcare industry, also has a positive effect on drug management.

According to Goldman Sachs, IoMT will save US$300 billion annually in the healthcare industry. AllTheResearch expects that the global IoMT market value will reach US$254.2 billion from US$44.5 billion in 2018.

 

Supply chain management technology in the healthcare industry

Utilizing advanced supply chain management technology in the healthcare industry enables healthcare providers to reach the right patients with the right product at the right time. Digitalized supply chain management also makes healthcare organizations improve provider-patient connectedness, data flow and analytics, regulatory compliance, and asset tracking.

A range of challenges faced by healthcare providers prompts you to digitalize supply chain networks, using the latest technologies in the healthcare industry. Advanced supply chain management technology will help you optimize costs, reduce unnecessary variation due to error and variability, enhance patient care, engagement, and delivery, and address new value-creation priorities.

According to reports from market researchers, global healthcare supply chain management technology is expected to reach US$3.3 billion in 2025 from US$2.2 billion in 2020.

 

Privacy issues

Privacy is a serious concern in technology in the healthcare industry, especially because of HIPAA compliance in 2020. Although data and information of patients can be efficiently stored and retrieved through cloud computing, complying with the strict electronic Protected Health Information (ePHI) is difficult.

While electronic health records and sensor networks, and advancements in other technologies in the healthcare industry will surely improve the quality of healthcare by reducing medical errors and costs, associated security and privacy are challenges to be addressed. Journal of the American Medical Informatics Association estimated that stolen or lost PHI may cost the US healthcare industry approximately US$7 billion annually.

To solve these issues, hospitals, and other healthcare providers have to stop using outdated technology and adopt state-of-the-art technologies without violating HIPAA. Encryption technology in the healthcare industry is the best option and healthcare providers should start using it to ensure the privacy of patients.

 

AR, VR, and MR in Healthcare

Virtual (VR) and augmented reality (AR) are important technologies in the healthcare industry to enhance and ensure the quality of telemedicine, especially during the period of the pandemic. The pandemic has made these technologies more popular and the trend is expected to continue in the future too. Both of these technologies in the healthcare industry are used to enhance patient and provider visits and even to educate medical students.

AR and VR also have the potential to help stroke victims overcome deficiencies, assist in robotic surgeries, educate patients before surgeries, facilitate easy surgical planning, help patients with PTSD, and reduce anxiety in children during a painful procedure or blood tests. Mixed reality (MR) is the mixed use of both VR and MR in a patient’s healthcare process and is also gaining popularity.

 

Blockchain

Blockchain is a trend which is expected to revolutionize technology in the healthcare industry. Using blockchain or digital ledgers will enable you to securely distribute transaction records to patients with improved data security. Along with other trends such as cloud computing and IoMT, blockchain also offers portability, accessibility, and high security. One of the greatest benefits of blockchain technology in the healthcare industry is interoperability.

As blockchain provides full visibility through a digital ledger, it improves integrity and transparency. Blockchain technology in the healthcare industry is beneficial to handle clinical study information, patient wearable data, and patient records.

 

Scope of blockchain technology in the healthcare industry

Various statistics on blockchain technology in the healthcare industry expect a wide scope for this technology. The global blockchain technology market in the healthcare industry is projected to cross US500 million by 2022.

 

Digital marketing trends in healthcare

Digital marketing technology in the healthcare industry has been revolutionized as new trends were set by the pandemic in 2020. As the world shrunk to online mode during the pandemic period, the following healthcare digital marketing trends emerged.

 

Content marketing

The smartest way to attract new patients to your service is content marketing and educational content. 2020 is the time where the content truly emerged as king. Educational content is vital in the healthcare space because everyone always tries to learn new things. It can be a trick or tips about the latest technological advancements, general industry news, or new diagnostic options.

 

Mobile responsive websites

Another important digital marketing technology in the healthcare industry is making an attractive website, which also must be mobile responsive. In this modern world of technology, everyone wants to access every facility at their fingertips. So, if your website is not mobile responsive, you won’t get traffic to your website easily.

Along with these two trending digital marketing technologies in the healthcare industry, some of the other trends are:

•  Video marketing

•  Multichannel initiatives and customer touchpoints

•  Online reputation

•  Powerful presence on social media channels

•  Location-based SEO

 

The essential trends and advancements in technology in the healthcare industry depicting the future of healthcare are machine learning, artificial intelligence, and data science along with a focus on effective healthcare digital marketing technology and strategy. The pandemic fueled B2B healthcare technology will make the industry evolve every year and go on resolving new challenges that arise.

 

Frequently Asked Questions

 

Why is technology important to the healthcare industry?

Integrating technology with healthcare industry will improve quality of life. Also, the use of digital technology in the healthcare industry will increase efficiency, quality, and patient experience.

 

What is new technology in healthcare?

Due to the COVID-19 pandemic, many trending technologies are used in healthcare. The new technologies in the healthcare industries are AI, blockchain, chatbots, voice search, and virtual reality.

 

What are the negative impacts of medical technology?

Medical technology can have some negative impacts on patients such as impersonal or minimized care, negative health effects, increased patient costs, inappropriate use, and invasion of privacy.

 

 

Spotlight

Ashfield

Ashfield, part of UDG Healthcare plc, is a global leader in providing outsourced healthcare services to pharmaceutical, device and biotech companies. We employ 7,000 employees, operate in 24 countries across Europe, North America, South America and Asia and work with more than 250 companies, including all of the world’s top 25 pharmaceutical companies.

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HEALTHTECH SECURITY, HEALTHCARE ANALYTICS

Top 15 EMR Conferences to Look Out for in 2023

Article | April 3, 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. Contents 1. Significance of Global EMR Events 2. Best Electronic Medical Records Conferences in Healthcare 2.1 MedInfo 2023 2.2 e-Health 2023 Conference and Tradeshow 2.3 Digital Healthcare World Congress 2023 2.4 11th International Conference on Internal Medicine & Patient Care 2.5 openEHR Conference 2.6 Oracle Health Conference 2.7 Electronic Medical Records Boot Camp 2.8 The Healthcare Innovation Congress 2.9 Digital Health Transformation Summit 2023 2.10 World Medical Innovation Forum 2.11 Bits & Pretzels Healthtech 2.12 IHI Patient Safety Congress 2.13 Intelligent Health Conference 2023 2.14 HealthTech Innovation Days 2.15 Digital Health Innovation Summit 3. Wrapping Up 1. Significance of Global EMR Events 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. 2. Best Electronic Medical Records Conferences in Healthcare 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: 2.1MedInfo 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. 2.2e-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. 2.3 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. 2.4 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. 2.5 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. 2.6 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. 2.7 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. 2.8 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. 2.9 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. 2.10 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. 2.11 Bits & Pretzels Healthtech June 20-21 | Munich he 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. 2.12 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. 2.13 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. 2.14 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. 2.15 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. 3. 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, MEDICAL DEVICES

Boost Your Lab's Efficiency with LIMS Software

Article | May 17, 2023

Contents 1. Getting Started with LIMS Software 2. Benefits of Incorporating LIMS Software into Lab Management 3. LIMS Software Classification 4. Selecting the Right LIMS Software: A Comparison of Variants 5. How LIMS Software Revolutionized Laboratory Management 6. Future Scope 1. Getting Started with LIMS Software Laboratory Information Management System (LIMS) software automates laboratory operations, improves productivity, and ensures the accuracy as well as reliability of laboratory data. It can be implemented in clinical laboratories, research & development labs, and environmental testing labs and tailored to meet specific needs. LIMS software seamlessly integrates with other laboratory systems, such as electronic lab notebooks and scientific data management systems. LIMS class software enables storing and managing all information in one place, improving day-to-day work. Yet, research reveals that still 40% of industry leaders 'had not embarked on applying digital to research and development or quality control labs'. (Source: Accenture) 2. Benefits of Incorporating LIMS Software into Lab Management By implementing LIMS software, laboratories can significantly reduce time spent locating samples and records, entering data, and generating reports. LIMS software also offers additional advantages when integrated into laboratory management, such as 1. Optimizing: LIMS automates laboratory processes, allowing for a paperless environment and increased productivity. It also ensures accurate test results by preventing the use of outdated instruments. 2. Automating: LIMS facilitates the input of essential sample information, including its source, date, time, and location of the collection as well as processing data. 3. Compliant: LIMS helps labs follow FDA regulations by creating an audit trail that tracks all activities, including record creation, modification, and deletion. It also enables electronic signatures to authenticate key activities and keep data secure and traceable. 4. Collaborative: LIMS streamlines inter-laboratory collaboration through the option to share data access. This allows lab technicians from disparate laboratories to be seamlessly assigned to different projects and obtain the required information without disruption. 5. Security: LIMS systems offer various mechanisms for managing user access, such as an in-built user management system with a unique username and password, integration with LDAP or Active Directory for user authentication, and access through an Identity Server. 3. LIMS Software Classification Laboratory Information Management System software can be classified based on several criteria, including functionality, deployment model, industry focus, and the laboratory's needs. Here is a list of critical features that can be considered while classifying LIMS software: 1. Functionality: Different LIMS software may have varying functionality, including sample tracking, data management, instrument integration, quality control, workflow management, and reporting. 2. Deployment Model: LIMS software can be deployed on-premises or in the cloud. On-premises deployment means that the software is installed and run on the laboratory's own servers, while cloud-based deployment means that the software is hosted and maintained by a third-party provider. 3. Industry Focus: LIMS software can be designed for specific industries or applications, such as pharmaceutical research, clinical laboratories, food and beverage testing, environmental testing, and more. 4. Open-Source vs. Proprietary: LIMS software can also be classified as either open-source or proprietary. Open-source software is freely available and can be modified by users, while a company owns proprietary software and requires a license to use it. 5. Scalability: The size of the laboratory and the number of users accessing the LIMS software can also be a factor in classification. Some LIMS software may be more scalable, allowing for easy expansion as the laboratory grows. 6. Integration Capabilities: LIMS software can also be classified based on its ability to integrate with other software or instruments. Some LIMS software may be more flexible and have better integration capabilities than others, allowing for seamless data exchange between different systems. 4. Selecting the Right LIMS Software: A Comparison of Variants While selecting the most appropriate LIMS variant, the wide range of available options can pose a challenge for laboratory decision-makers. To aid in this selection process, a comprehensive comparative analysis of LIMS variants is presented below: 1. Lab managers can adopt an objective approach for evaluating and comparing different LIMS solutions by creating a grading rubric. This involves designing a table with separate columns for each LIMS vendor and rows listing the desired features as well as functionalities. To provide a more comprehensive evaluation, advanced rubrics may include rating each functionality on a particular LIMS using a scale of 1 to 5. 2. Next, it is crucial to review how LIMS solutions are structured and stored. This includes determining whether the solution is on-premise or cloud-based, either as a platform-as-a-service (PaaS) or software-as-a-service (SaaS). For optimal flexibility in the laboratory's computing structure, choosing a vendor that offers LIMS as a comprehensive solution is advantageous. 3. Data access must be controlled by using unique user IDs and passwords. Furthermore, data security standards such as HIPAA compliance and SSL encryption will likely be mandatory across many laboratory industries. It is thus imperative to carefully consider and ensure the security features of any potential LIMS solution. 4. To assess the level of support that can be expected with a particular LIMS, one effective method is to directly inquire with the software vendor about outages, response time, and plans of action to address any glitches preemptively. Managing expectations around the LIMS requires asking about the frequency of LIMS updates, including how often the platform is updated, how updates are announced and deployed, and the expected duration of any update-related outages. 5. While selecting a LIMS solution, laboratories must establish a target go-live date, especially when implementing the system in response to, or preparation for, an audit. Software vendors should provide a deployment and implementation timeline, which can be used to compare with the laboratory's objectives and goals. This helps to ensure that the LIMS solution is implemented in a timely and efficient manner. 5. How LIMS Software Revolutionized Laboratory Management LIMS software has fundamentally revolutionized the laboratory management system in several ways. Before the advent of LIMS, laboratory operations were often paper-based and highly manual, leading to inefficiencies, errors, and inconsistencies. However, with the implementation of LIMS, laboratories have become more efficient, accurate, and compliant. LIMS has also improved laboratory productivity, allowing scientists to focus on higher-value tasks like data analysis and interpretation. It has enabled collaboration between different laboratories, facilitating communication and knowledge sharing between scientists, researchers, and analysts, and is also leading to more significant innovation and progress in the field of science and research. 6. Future Scope The future scope of Laboratory Information Management System software is promising as it continues to evolve and adapt to the changing needs of laboratory management. Potential developments include integrating emerging technologies such as artificial intelligence, machine learning, and robotics, cloud-based solutions for scalability and accessibility, IoT integration for automation and safety, enhanced data analytics for improved decision-making, and mobile applications for on-the-go access. Moreover, with SaaS LIMS, there are no license costs, minimal installation fees, and no need for in-house servers or databanks, resulting in reduced IT maintenance costs for hardware and software.

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DIGITAL HEALTHCARE

The Top Wellness Programs Most Employees Prefer: Weight Management, Smoking Cessation, and Mental Health

Article | March 29, 2023

It’s no secret that the working world has changed these past few years, but employees have also undergone a lot of personal transformation due to these shifts. Struggles with health, home life, or personal issues can make it hard for them to work. Burnout is increasing worldwide, with 40% of desk-job workers feeling mentally distanced from work, depleted of energy, and increased negativity. Younger workers are already becoming drained by work life, which could spell trouble for future generations of employees. Despite these challenges, the workplace is the best place to help staff improve their wellness, especially since they spend most of their time working or in the office. Wellness programs can be implemented to help employees feel rejuvenated and respected, which will boost their performance at work. Here are some examples of programs your workers might enjoy Weight Management Programs The idea of a weight management program at work may seem like something employees could be offended by, but it can help workers build healthy habits and assess their lifestyle to help them achieve better health. Employees can learn to manage their diet better, leading to weight loss and a lowered risk of certain health conditions. These programs can also identify the need for medical weight loss strategies. For employees struggling with pre-obesity—a complex disease influenced by several factors often out of an individual’s control—personalized lifestyle changes and FDA-approved medications can be recommended. With chronic weight issues, doctors can prescribe medications that can help produce an average of 15% weight loss, especially when individual biology makes doing so harder. Employees can look for the help they need for wellness and weight loss, which can help them feel cared for by the company. When workers are at their peak physically, they can enjoy a healthier lifestyle and will be more efficient at work. Quit Smoking Programs Smoking is usually a means for employees to reduce stress, but it can greatly impact their personal and professional lives. Smokers tend to be more absent or disengaged at work than non-smokers. Presenteeism at work is also associated with heavy smoking. Employees coming to work despite health issues can lead to subpar performances. This can cost workplaces a lot of money in lost productivity, and workers will also suffer from health consequences. Smoking cessation programs can help employees reduce their tobacco consumption and quit smoking for better health and productivity. These programs can include counseling, suggesting smoking cessation products or nicotine replacement therapy, or other initiatives tailored to individuals. Your staff may need more motivation when trying to quit, so having more support and a community to confide in can help. Mental Health Programs Mental health in the workplace was largely ignored for many years, as many saw it as a personal issue. However, work can contribute significantly to employees’ mental health problems or exacerbate mental illnesses like anxiety and depression. Improving these conditions is vital to improving many aspects of life for employees. Workers will better enjoy work and perform well when they know they’re being supported. Mental health is also paramount to sustainable development and plays a significant role in transforming the world as a whole. Treating and monitoring mental wellness should be prioritized at work and beyond. Though companies may not have the means to properly diagnose or treat workers’ mental illnesses, mental health programs can help give employees and managers the education and resources to help improve mental wellness. Education and training on mental health can aid people in spotting issues and having them addressed or equip people with the ability to provide proper support or encouragement. These programs can also help the business take the initiative and offer other resources to improve mental health. That can be through mental health sick leaves, adding napping or gaming areas to the office, or offering mental health apps or counseling in benefits packages. When your staff is appreciated and taken care of, it’ll improve their overall well-being and life at work and home.

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DIGITAL HEALTHCARE

Ways to Drive Practice Revenue and Reduce Your Accounts Receivable

Article | March 29, 2023

Managing accounts receivable (A/R) in private practice is a constant battle for physicians. Though most understand that lowering their A/R is critical for improving their practices’ efficiency and profitability, physicians often do not know how to address issues like lengthy collection periods and insurance claim denials. It can be complex to manage A/R, as doing so involves various parties, including insurance carriers, the patient, the front office and billing staff, and the provider. All must work together to achieve a clean claims rate and avoid denials. The best way to improve medical billing A/R is to reduce claim denials and speed up the patient collections process. In addition, you’ll need to ensure that patients and staff are filling out paperwork correctly and submitting claims on time. Other areas to manage are the follow-ups to correct errors and past-due accounts. Accounts receivable is a collaborative effort Each member of the practice staff plays an integral role in reducing claims denial rates. Take an all-hands-on-deck approach in order to identify issues and develop solutions. Start by making every team member privy to the A/R management process. This will ensure everyone is on the same page and involved. It will also help to increase efficiency, avoid redundancies, and eliminate mistakes that could waste time or profitability. The front office staff is the front line of A/R. They are the first to verify and update patients’ insurance and personal details like address and contact information. They must also ensure that patients sign certain documents, like financial policies. Providers are the next line of A/R. Providers select current procedural terminology (CPT) codes, and must be mindful of tedious details such as bundling correctly in order to ensure that claims are approved. A conscientious provider should not only select appropriate billing codes but also double-check the patient information that the front office staff provide. The billing office is a final line of defense and should triple check that the patient’s information and the CPT codes are correct. Billing office staff are also responsible for ensuring the claims are submitted on time and that duplicates are not submitted. Establish financial policies Every practice needs clearly defined financial policies around patients or clients. Having these policies in place helps to clarify financial details and creates workflows and processes for staff to follow. Here are a few elements to consider: State whether the practice will accept personal checks and, if so, what charges or actions are in place for bounced checks. Consider implementing technologies that convert paper checks to electronic transactions and verify them before patients leave the office. Include a financial responsibilities section with information about who is responsible for the claim(s) if a patient’s insurance carrier partially or fully denies their claim. Define the debt collection process. Patients should quickly know how long they have to pay their bills and at what point you may sell their debt to a third-party debt collectors agency. Medical records can be copious, and practices often need to make physical copies of them. Consider implementing a policy that covers a pay-per-page cost associated with medical records. Automate patient statements and payments Offer different payment options for patients by implementing technologies and creative solutions that make it easier for them to pay their bills. Look for solutions that reduce manual work and provide reporting that tracks efficacy across delivery modes. Here are a few approaches to consider: Automate sending statements via text message or email to help improve the rate of online payments. Add QR codes to online and paper statements to help patients quickly access payment portals. Offer payment plans, especially with low to no interest, to make it easier for patients to pay down balances. Establish a written collections process Not collecting patient payments at the time of service is the biggest challenge to patient collections. Establishing a written collections process can help to alleviate that pain point and clarify the practice’s policies and procedures so that patients can understand them more clearly and easily. Here are some guidelines to follow when creating your policies: Include when, how, and how often bills are sent. Provide information on payment plans and assistance programs, if available. Explain the different available payment options and whether patients can pay over the phone, online through a payment portal, etc. Clarify which extraordinary collection actions may be used, including selling the debt or taking legal action. One of the most important processes to develop with collections is to respond to patients’ behavior. Communication should not be a one-size-fits-all approach. Patients expect personalization, and reaching out to them based on their preferred means of communication leads to optimal results. Perseverance is vital when it comes to collections. By establishing clear policies and implementing integrated technology throughout your processes, you can improve the patient experience by eliminating confusion while streamlining workflow to reduce the administrative burden on billing and administrative staff. Although implementing these steps can help your practice lower your accounts receivables, sometimes choosing to outsource to a medical billing company can help you save time, money, and resources. Medical billing companies can provide medical practices with specialized expertise, technology, and infrastructure to efficiently manage the revenue cycle and ensure timely payments. Outsourcing medical billing can also free up staff time and resources, allowing healthcare providers to focus on patient care and other essential aspects of running their practice. Whether you choose to outsource or to keep your medical billing in-house, these tips will help you to reduce your costs and increase your revenue.

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HEALTHTECH SECURITY, HEALTHCARE ANALYTICS

The Top Wellness Programs Most Employees Prefer: Weight Management, Smoking Cessation, and Mental Health

Article | April 3, 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. Contents 1. Significance of Global EMR Events 2. Best Electronic Medical Records Conferences in Healthcare 2.1 MedInfo 2023 2.2 e-Health 2023 Conference and Tradeshow 2.3 Digital Healthcare World Congress 2023 2.4 11th International Conference on Internal Medicine & Patient Care 2.5 openEHR Conference 2.6 Oracle Health Conference 2.7 Electronic Medical Records Boot Camp 2.8 The Healthcare Innovation Congress 2.9 Digital Health Transformation Summit 2023 2.10 World Medical Innovation Forum 2.11 Bits & Pretzels Healthtech 2.12 IHI Patient Safety Congress 2.13 Intelligent Health Conference 2023 2.14 HealthTech Innovation Days 2.15 Digital Health Innovation Summit 3. Wrapping Up 1. Significance of Global EMR Events 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. 2. Best Electronic Medical Records Conferences in Healthcare 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: 2.1MedInfo 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. 2.2e-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. 2.3 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. 2.4 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. 2.5 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. 2.6 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. 2.7 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. 2.8 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. 2.9 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. 2.10 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. 2.11 Bits & Pretzels Healthtech June 20-21 | Munich he 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. 2.12 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. 2.13 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. 2.14 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. 2.15 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. 3. 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, MEDICAL DEVICES

Top 15 EMR Conferences to Look Out for in 2023

Article | May 17, 2023

Contents 1. Getting Started with LIMS Software 2. Benefits of Incorporating LIMS Software into Lab Management 3. LIMS Software Classification 4. Selecting the Right LIMS Software: A Comparison of Variants 5. How LIMS Software Revolutionized Laboratory Management 6. Future Scope 1. Getting Started with LIMS Software Laboratory Information Management System (LIMS) software automates laboratory operations, improves productivity, and ensures the accuracy as well as reliability of laboratory data. It can be implemented in clinical laboratories, research & development labs, and environmental testing labs and tailored to meet specific needs. LIMS software seamlessly integrates with other laboratory systems, such as electronic lab notebooks and scientific data management systems. LIMS class software enables storing and managing all information in one place, improving day-to-day work. Yet, research reveals that still 40% of industry leaders 'had not embarked on applying digital to research and development or quality control labs'. (Source: Accenture) 2. Benefits of Incorporating LIMS Software into Lab Management By implementing LIMS software, laboratories can significantly reduce time spent locating samples and records, entering data, and generating reports. LIMS software also offers additional advantages when integrated into laboratory management, such as 1. Optimizing: LIMS automates laboratory processes, allowing for a paperless environment and increased productivity. It also ensures accurate test results by preventing the use of outdated instruments. 2. Automating: LIMS facilitates the input of essential sample information, including its source, date, time, and location of the collection as well as processing data. 3. Compliant: LIMS helps labs follow FDA regulations by creating an audit trail that tracks all activities, including record creation, modification, and deletion. It also enables electronic signatures to authenticate key activities and keep data secure and traceable. 4. Collaborative: LIMS streamlines inter-laboratory collaboration through the option to share data access. This allows lab technicians from disparate laboratories to be seamlessly assigned to different projects and obtain the required information without disruption. 5. Security: LIMS systems offer various mechanisms for managing user access, such as an in-built user management system with a unique username and password, integration with LDAP or Active Directory for user authentication, and access through an Identity Server. 3. LIMS Software Classification Laboratory Information Management System software can be classified based on several criteria, including functionality, deployment model, industry focus, and the laboratory's needs. Here is a list of critical features that can be considered while classifying LIMS software: 1. Functionality: Different LIMS software may have varying functionality, including sample tracking, data management, instrument integration, quality control, workflow management, and reporting. 2. Deployment Model: LIMS software can be deployed on-premises or in the cloud. On-premises deployment means that the software is installed and run on the laboratory's own servers, while cloud-based deployment means that the software is hosted and maintained by a third-party provider. 3. Industry Focus: LIMS software can be designed for specific industries or applications, such as pharmaceutical research, clinical laboratories, food and beverage testing, environmental testing, and more. 4. Open-Source vs. Proprietary: LIMS software can also be classified as either open-source or proprietary. Open-source software is freely available and can be modified by users, while a company owns proprietary software and requires a license to use it. 5. Scalability: The size of the laboratory and the number of users accessing the LIMS software can also be a factor in classification. Some LIMS software may be more scalable, allowing for easy expansion as the laboratory grows. 6. Integration Capabilities: LIMS software can also be classified based on its ability to integrate with other software or instruments. Some LIMS software may be more flexible and have better integration capabilities than others, allowing for seamless data exchange between different systems. 4. Selecting the Right LIMS Software: A Comparison of Variants While selecting the most appropriate LIMS variant, the wide range of available options can pose a challenge for laboratory decision-makers. To aid in this selection process, a comprehensive comparative analysis of LIMS variants is presented below: 1. Lab managers can adopt an objective approach for evaluating and comparing different LIMS solutions by creating a grading rubric. This involves designing a table with separate columns for each LIMS vendor and rows listing the desired features as well as functionalities. To provide a more comprehensive evaluation, advanced rubrics may include rating each functionality on a particular LIMS using a scale of 1 to 5. 2. Next, it is crucial to review how LIMS solutions are structured and stored. This includes determining whether the solution is on-premise or cloud-based, either as a platform-as-a-service (PaaS) or software-as-a-service (SaaS). For optimal flexibility in the laboratory's computing structure, choosing a vendor that offers LIMS as a comprehensive solution is advantageous. 3. Data access must be controlled by using unique user IDs and passwords. Furthermore, data security standards such as HIPAA compliance and SSL encryption will likely be mandatory across many laboratory industries. It is thus imperative to carefully consider and ensure the security features of any potential LIMS solution. 4. To assess the level of support that can be expected with a particular LIMS, one effective method is to directly inquire with the software vendor about outages, response time, and plans of action to address any glitches preemptively. Managing expectations around the LIMS requires asking about the frequency of LIMS updates, including how often the platform is updated, how updates are announced and deployed, and the expected duration of any update-related outages. 5. While selecting a LIMS solution, laboratories must establish a target go-live date, especially when implementing the system in response to, or preparation for, an audit. Software vendors should provide a deployment and implementation timeline, which can be used to compare with the laboratory's objectives and goals. This helps to ensure that the LIMS solution is implemented in a timely and efficient manner. 5. How LIMS Software Revolutionized Laboratory Management LIMS software has fundamentally revolutionized the laboratory management system in several ways. Before the advent of LIMS, laboratory operations were often paper-based and highly manual, leading to inefficiencies, errors, and inconsistencies. However, with the implementation of LIMS, laboratories have become more efficient, accurate, and compliant. LIMS has also improved laboratory productivity, allowing scientists to focus on higher-value tasks like data analysis and interpretation. It has enabled collaboration between different laboratories, facilitating communication and knowledge sharing between scientists, researchers, and analysts, and is also leading to more significant innovation and progress in the field of science and research. 6. Future Scope The future scope of Laboratory Information Management System software is promising as it continues to evolve and adapt to the changing needs of laboratory management. Potential developments include integrating emerging technologies such as artificial intelligence, machine learning, and robotics, cloud-based solutions for scalability and accessibility, IoT integration for automation and safety, enhanced data analytics for improved decision-making, and mobile applications for on-the-go access. Moreover, with SaaS LIMS, there are no license costs, minimal installation fees, and no need for in-house servers or databanks, resulting in reduced IT maintenance costs for hardware and software.

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DIGITAL HEALTHCARE

Ways to Drive Practice Revenue and Reduce Your Accounts Receivable

Article | March 29, 2023

It’s no secret that the working world has changed these past few years, but employees have also undergone a lot of personal transformation due to these shifts. Struggles with health, home life, or personal issues can make it hard for them to work. Burnout is increasing worldwide, with 40% of desk-job workers feeling mentally distanced from work, depleted of energy, and increased negativity. Younger workers are already becoming drained by work life, which could spell trouble for future generations of employees. Despite these challenges, the workplace is the best place to help staff improve their wellness, especially since they spend most of their time working or in the office. Wellness programs can be implemented to help employees feel rejuvenated and respected, which will boost their performance at work. Here are some examples of programs your workers might enjoy Weight Management Programs The idea of a weight management program at work may seem like something employees could be offended by, but it can help workers build healthy habits and assess their lifestyle to help them achieve better health. Employees can learn to manage their diet better, leading to weight loss and a lowered risk of certain health conditions. These programs can also identify the need for medical weight loss strategies. For employees struggling with pre-obesity—a complex disease influenced by several factors often out of an individual’s control—personalized lifestyle changes and FDA-approved medications can be recommended. With chronic weight issues, doctors can prescribe medications that can help produce an average of 15% weight loss, especially when individual biology makes doing so harder. Employees can look for the help they need for wellness and weight loss, which can help them feel cared for by the company. When workers are at their peak physically, they can enjoy a healthier lifestyle and will be more efficient at work. Quit Smoking Programs Smoking is usually a means for employees to reduce stress, but it can greatly impact their personal and professional lives. Smokers tend to be more absent or disengaged at work than non-smokers. Presenteeism at work is also associated with heavy smoking. Employees coming to work despite health issues can lead to subpar performances. This can cost workplaces a lot of money in lost productivity, and workers will also suffer from health consequences. Smoking cessation programs can help employees reduce their tobacco consumption and quit smoking for better health and productivity. These programs can include counseling, suggesting smoking cessation products or nicotine replacement therapy, or other initiatives tailored to individuals. Your staff may need more motivation when trying to quit, so having more support and a community to confide in can help. Mental Health Programs Mental health in the workplace was largely ignored for many years, as many saw it as a personal issue. However, work can contribute significantly to employees’ mental health problems or exacerbate mental illnesses like anxiety and depression. Improving these conditions is vital to improving many aspects of life for employees. Workers will better enjoy work and perform well when they know they’re being supported. Mental health is also paramount to sustainable development and plays a significant role in transforming the world as a whole. Treating and monitoring mental wellness should be prioritized at work and beyond. Though companies may not have the means to properly diagnose or treat workers’ mental illnesses, mental health programs can help give employees and managers the education and resources to help improve mental wellness. Education and training on mental health can aid people in spotting issues and having them addressed or equip people with the ability to provide proper support or encouragement. These programs can also help the business take the initiative and offer other resources to improve mental health. That can be through mental health sick leaves, adding napping or gaming areas to the office, or offering mental health apps or counseling in benefits packages. When your staff is appreciated and taken care of, it’ll improve their overall well-being and life at work and home.

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DIGITAL HEALTHCARE

Ways to Drive Practice Revenue and Reduce Your Accounts Receivable

Article | March 29, 2023

Managing accounts receivable (A/R) in private practice is a constant battle for physicians. Though most understand that lowering their A/R is critical for improving their practices’ efficiency and profitability, physicians often do not know how to address issues like lengthy collection periods and insurance claim denials. It can be complex to manage A/R, as doing so involves various parties, including insurance carriers, the patient, the front office and billing staff, and the provider. All must work together to achieve a clean claims rate and avoid denials. The best way to improve medical billing A/R is to reduce claim denials and speed up the patient collections process. In addition, you’ll need to ensure that patients and staff are filling out paperwork correctly and submitting claims on time. Other areas to manage are the follow-ups to correct errors and past-due accounts. Accounts receivable is a collaborative effort Each member of the practice staff plays an integral role in reducing claims denial rates. Take an all-hands-on-deck approach in order to identify issues and develop solutions. Start by making every team member privy to the A/R management process. This will ensure everyone is on the same page and involved. It will also help to increase efficiency, avoid redundancies, and eliminate mistakes that could waste time or profitability. The front office staff is the front line of A/R. They are the first to verify and update patients’ insurance and personal details like address and contact information. They must also ensure that patients sign certain documents, like financial policies. Providers are the next line of A/R. Providers select current procedural terminology (CPT) codes, and must be mindful of tedious details such as bundling correctly in order to ensure that claims are approved. A conscientious provider should not only select appropriate billing codes but also double-check the patient information that the front office staff provide. The billing office is a final line of defense and should triple check that the patient’s information and the CPT codes are correct. Billing office staff are also responsible for ensuring the claims are submitted on time and that duplicates are not submitted. Establish financial policies Every practice needs clearly defined financial policies around patients or clients. Having these policies in place helps to clarify financial details and creates workflows and processes for staff to follow. Here are a few elements to consider: State whether the practice will accept personal checks and, if so, what charges or actions are in place for bounced checks. Consider implementing technologies that convert paper checks to electronic transactions and verify them before patients leave the office. Include a financial responsibilities section with information about who is responsible for the claim(s) if a patient’s insurance carrier partially or fully denies their claim. Define the debt collection process. Patients should quickly know how long they have to pay their bills and at what point you may sell their debt to a third-party debt collectors agency. Medical records can be copious, and practices often need to make physical copies of them. Consider implementing a policy that covers a pay-per-page cost associated with medical records. Automate patient statements and payments Offer different payment options for patients by implementing technologies and creative solutions that make it easier for them to pay their bills. Look for solutions that reduce manual work and provide reporting that tracks efficacy across delivery modes. Here are a few approaches to consider: Automate sending statements via text message or email to help improve the rate of online payments. Add QR codes to online and paper statements to help patients quickly access payment portals. Offer payment plans, especially with low to no interest, to make it easier for patients to pay down balances. Establish a written collections process Not collecting patient payments at the time of service is the biggest challenge to patient collections. Establishing a written collections process can help to alleviate that pain point and clarify the practice’s policies and procedures so that patients can understand them more clearly and easily. Here are some guidelines to follow when creating your policies: Include when, how, and how often bills are sent. Provide information on payment plans and assistance programs, if available. Explain the different available payment options and whether patients can pay over the phone, online through a payment portal, etc. Clarify which extraordinary collection actions may be used, including selling the debt or taking legal action. One of the most important processes to develop with collections is to respond to patients’ behavior. Communication should not be a one-size-fits-all approach. Patients expect personalization, and reaching out to them based on their preferred means of communication leads to optimal results. Perseverance is vital when it comes to collections. By establishing clear policies and implementing integrated technology throughout your processes, you can improve the patient experience by eliminating confusion while streamlining workflow to reduce the administrative burden on billing and administrative staff. Although implementing these steps can help your practice lower your accounts receivables, sometimes choosing to outsource to a medical billing company can help you save time, money, and resources. Medical billing companies can provide medical practices with specialized expertise, technology, and infrastructure to efficiently manage the revenue cycle and ensure timely payments. Outsourcing medical billing can also free up staff time and resources, allowing healthcare providers to focus on patient care and other essential aspects of running their practice. Whether you choose to outsource or to keep your medical billing in-house, these tips will help you to reduce your costs and increase your revenue.

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Ashfield, part of UDG Healthcare plc, is a global leader in providing outsourced healthcare services to pharmaceutical, device and biotech companies. We employ 7,000 employees, operate in 24 countries across Europe, North America, South America and Asia and work with more than 250 companies, including all of the world’s top 25 pharmaceutical companies.

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MEDICAL DEVICES

Waystar Accelerates Impact in Healthcare Payments with New Innovations on Cloud-Based Platform

Businesswire | June 09, 2023

Waystar, a leading provider of healthcare payments software, today announced significant enhancements across the company’s award-winning, cloud-based platform. At a time of explosive growth in the accessibility and sophistication of technology, improved capabilities in areas such as artificial intelligence are playing a more significant role than ever in revolutionizing healthcare, particularly in administration and operations. Applied to the payments process, Waystar’s advances give patients and providers unparalleled clarity and accuracy, speed time to payment and connect processes and data to drive even higher levels of performance and insight. “We are at a watershed moment in healthcare, where modern technology can drastically improve results for providers and their patients,” said Matt Hawkins, Chief Executive Officer of Waystar. “By unifying payments under a single cloud-based platform and harnessing the power of our purpose-built automation and analytics, we are removing friction from the system and helping providers focus on delivering care. I am energized by our team’s work to continually innovate and deliver on that mission.” Spurred by recent leaps in automation and data analytics capabilities, Waystar is integrating groundbreaking new enhancements into its already industry-leading platform, unlocking Transparency: Waystar’s solution is known for improving patient engagement, including enabling a 30% uptick in patient payments and 80% self-service pay rate, along with a patient Net Promoter Score (NPS) – which indicates a patient’s satisfaction with their payment experience at a provider – of 57 (Bain & Company, which developed the NPS benchmark, considers anything above a 50 ‘excellent’). With the addition of automated pre-claim coverage detection, clearer explanations of benefits (EOBs) and the delivery of estimates directly into the PatientWallet®, Waystar is bringing further clarity to patient obligations, drastically improving the overall financial experience and driving patient loyalty. Efficiency: From 340% increases in prior authorization speed to a 62% reduction in Medicare AR days, Waystar’s solution is recognized for the extreme efficiency it brings to healthcare payments. The company is now further enhancing its machine learning-infused claims follow-ups, which leverage data to better predict and guide follow-up actions for providers based on revenue impact. This advanced appeal prioritization, coupled with predictive analytics for authorization and denials workflows, is simplifying previously complex and time-intensive activities, reducing administrative burdens and empowering staff to focus their efforts on patient care. Accuracy: Built on the strength of a platform covering more than half of the U.S. patient population, Waystar is creating a precise process for providers that prevents revenue leakage and gets them paid fully and on time. Specifically, Waystar’s technology has spurred a 50% reduction in denials related to authorization and eligibility, achieved a 95% auditor agreement rate, and driven a 30% reduction in bad-debt write-offs for providers. Now, as the company introduces new claim attachments and next-generation analytic capabilities, providers can expect even less administrative waste in the payments process. About Waystar Through a smart platform and better experience, Waystar helps providers simplify healthcare payments and yield powerful results throughout the complete revenue cycle. Waystar’s healthcare payments platform combines innovative, cloud-based technology, robust data, and unparalleled client support to streamline workflows and improve financials so providers can focus on what matters most: their patients and communities. Waystar is trusted by 1M+ providers, 1K+ hospitals and health systems, and is connected to over 5K commercial and Medicaid/Medicare payers. Annually, Waystar’s AI-powered solutions process $6B+ patient payments, $4B+ out-of-pocket estimates, and claims for over 50% of U.S. patients.

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DIGITAL HEALTHCARE, MEDICAL DEVICES

Curana Health Collaborates with Netsmart to Drive Integrated Value-Based Care Models

Businesswire | June 08, 2023

Curana Health, a provider-led, primary and post-acute organization focused on senior living communities, has selected Netsmart as their healthcare technology partner to enhance care coordination and delivery, to better support value-based models of care by leveraging the CareFabric® platform. Through this collaboration, Curana will utilize a comprehensive suite of highly customized solutions to advance consumer engagement initiatives, expand value-based care and effectively manage high-risk populations across their facilities nationwide. Curana Health currently serves more than 1,000 senior living facility partners. Curana Health will serve as a thought leader and innovation partner with Netsmart in order to continue their successful expansion. Specifically, Curana will leverage GEHRIMED, a cloud-based mobile electronic health record (EHR) solution designed for and by long-term/post-acute care (LTPAC) practitioners with capabilities needed to enhance care, simplify workflows and manage compliance. GEHRIMED, an ONC-certified solution, provides efficient documentation for clinicians and streamlines quality measure support for merit-based incentive payment system (MIPS), accountable care organization (ACO) measures management and value-based care initiatives. “Our goal is to enhance the senior living healthcare experience in such a profound way that we inspire national improvements in the care of older adults,” said Curana Health CEO Mark Price. “Our technology platform plays a key role in ensuring our clinicians have well-designed workflows, actionable data at the point of care, and an enhanced ability to collaborate effectively with other clinicians. The Netsmart CareFabric is a key part of the best-in-class technology platform that Curana Health providers use.” Curana plans to expand its use of the CareFabric leveraging the myHealthPointe™ consumer engagement platform which supports remote health status monitoring to present insights to providers to help prioritize care. Also connecting individuals and families to their care plan through a user-friendly, secure solution. Additionally, the organization will benefit from the powerful Netsmart interoperability framework to seamlessly share and exchange data with health information exchanges and providers across the healthcare ecosystem to support continuity of care. “Empowering Curana Health with innovative technology solutions to revolutionize coordinated, value-based care and drive exceptional outcomes is at the core of this partnership,” explained Beth Reece, VP & General Manager at Netsmart. “The organization will benefit from obtaining a person-centered view, leveraging enhanced relationships with health systems and payers to provide tailored care in preferred settings. Cutting-edge solutions unify their approach to improve consumer-driven care, enhance senior living environments, and achieve advanced models of care with optimized outcomes for those they serve.” Through this relationship, Netsmart and Curana will continue to collaborate on ways to utilize the CareFabric platform to support Curana Health’s integrated model of care. About Curana Health Curana Health’s mission is to improve the health, happiness, and dignity of senior living residents. With a combined footprint reaching 26 states and over 1,000 senior living facilities, Curana Health innovates solutions for senior care delivery with a unique focus on prevention and care coordination. About Netsmart Netsmart, a leading provider of Software as a Service (SaaS) technology and services solutions, designs, builds and delivers electronic health records (EHRs), health information exchanges (HIEs), analytics and telehealth solutions and services that are powerful, intuitive and easy-to-use. Our platform provides accurate, up-to-date information that is easily accessible to care team members in the human services and post-acute care (which is comprised of skilled nursing, home care, hospice, palliative and senior living), and payer markets. We make the complex simple and personalized so our clients can concentrate on what they do best: provide services and treatment that support whole-person care.

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DIGITAL HEALTHCARE

The IMA Group Announces Acquisition of Pontum Health

Businesswire | June 07, 2023

Further extending its service area to two key new states and strengthening it in an existing market, The IMA Group (IMA) announced today the acquisition of Pontum Health, a regional provider of Social Security Disability evaluations currently operating in the Pacific Northwest. The IMA Group is a technology-driven medical and psychological screening and evaluation service provider with more than 30 years of experience in returning people to work and productivity. Founded in 2012 and headquartered in the Seattle Metro area, Pontum Health is a provider-owned and operated company managed by husband and wife co-founders Anjali D'Souza, MD, FACP, Internal Medicine, and Peter Meis, MD, Psychiatry. The acquisition is IMA's third in the Social Security Administration (SSA) and Disability Determination Services (DDS) space and 17th overall and continues the company's long-standing commitment to providing high-quality Consultative Examinations (CEs). With the latest acquisition, IMA now provides medical and psychological evaluations and related services in more than 40 states, including further reach in Washington and adding Alaska and Oregon through the Pontum acquisition. "As the marketplace continues to recover from COVID and as mental health and other conditions continue to impact employers and payers, the demand for quality outsourced SSA and DDS evaluations is greater than ever," said Dr. Mark Weinberger, President & CEO of The IMA Group. "We continually look for businesses that reflect our culture and enhance the services we bring to our clients and the businesses we acquire. Pontum is another great fit for The IMA Group." Financial terms for the two privately held companies were not disclosed. Pontum Health will continue to operate under its current name to ensure a seamless transition for existing clients. The core leadership team will remain in place, including founding physicians Anjali D'Souza, M.D. and Peter Meis, M.D. About The IMA Group For over 30 years, The IMA Group, headquartered in Tarrytown, New York, and with offices nationwide, has been dedicated to helping people get back to work and resume productivity. Over the past 10 years, IMA has conducted more than three million evaluations nationwide, utilizing thousands of providers at IMA's 150+ offices and independent locations. The company provides Evaluation Services through its Government Services division to clients with medical, psychological, and related evaluations, as well as ancillary services, and through its Payer Services division to support Commercial Insurers, TPAs, and Corporate clients with Independent Medical Evaluations, Case Management, and Occupational Health Services, Fitness for Duty determinations, Pre-Employment examinations and Forensic Drug Testing. The Clinical Research Division offers access to new advances in pharmacology and biotechnology for research subjects and a robust database of interested participants for pharmaceutical manufacturers.

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MEDICAL DEVICES

Waystar Accelerates Impact in Healthcare Payments with New Innovations on Cloud-Based Platform

Businesswire | June 09, 2023

Waystar, a leading provider of healthcare payments software, today announced significant enhancements across the company’s award-winning, cloud-based platform. At a time of explosive growth in the accessibility and sophistication of technology, improved capabilities in areas such as artificial intelligence are playing a more significant role than ever in revolutionizing healthcare, particularly in administration and operations. Applied to the payments process, Waystar’s advances give patients and providers unparalleled clarity and accuracy, speed time to payment and connect processes and data to drive even higher levels of performance and insight. “We are at a watershed moment in healthcare, where modern technology can drastically improve results for providers and their patients,” said Matt Hawkins, Chief Executive Officer of Waystar. “By unifying payments under a single cloud-based platform and harnessing the power of our purpose-built automation and analytics, we are removing friction from the system and helping providers focus on delivering care. I am energized by our team’s work to continually innovate and deliver on that mission.” Spurred by recent leaps in automation and data analytics capabilities, Waystar is integrating groundbreaking new enhancements into its already industry-leading platform, unlocking Transparency: Waystar’s solution is known for improving patient engagement, including enabling a 30% uptick in patient payments and 80% self-service pay rate, along with a patient Net Promoter Score (NPS) – which indicates a patient’s satisfaction with their payment experience at a provider – of 57 (Bain & Company, which developed the NPS benchmark, considers anything above a 50 ‘excellent’). With the addition of automated pre-claim coverage detection, clearer explanations of benefits (EOBs) and the delivery of estimates directly into the PatientWallet®, Waystar is bringing further clarity to patient obligations, drastically improving the overall financial experience and driving patient loyalty. Efficiency: From 340% increases in prior authorization speed to a 62% reduction in Medicare AR days, Waystar’s solution is recognized for the extreme efficiency it brings to healthcare payments. The company is now further enhancing its machine learning-infused claims follow-ups, which leverage data to better predict and guide follow-up actions for providers based on revenue impact. This advanced appeal prioritization, coupled with predictive analytics for authorization and denials workflows, is simplifying previously complex and time-intensive activities, reducing administrative burdens and empowering staff to focus their efforts on patient care. Accuracy: Built on the strength of a platform covering more than half of the U.S. patient population, Waystar is creating a precise process for providers that prevents revenue leakage and gets them paid fully and on time. Specifically, Waystar’s technology has spurred a 50% reduction in denials related to authorization and eligibility, achieved a 95% auditor agreement rate, and driven a 30% reduction in bad-debt write-offs for providers. Now, as the company introduces new claim attachments and next-generation analytic capabilities, providers can expect even less administrative waste in the payments process. About Waystar Through a smart platform and better experience, Waystar helps providers simplify healthcare payments and yield powerful results throughout the complete revenue cycle. Waystar’s healthcare payments platform combines innovative, cloud-based technology, robust data, and unparalleled client support to streamline workflows and improve financials so providers can focus on what matters most: their patients and communities. Waystar is trusted by 1M+ providers, 1K+ hospitals and health systems, and is connected to over 5K commercial and Medicaid/Medicare payers. Annually, Waystar’s AI-powered solutions process $6B+ patient payments, $4B+ out-of-pocket estimates, and claims for over 50% of U.S. patients.

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DIGITAL HEALTHCARE, MEDICAL DEVICES

Curana Health Collaborates with Netsmart to Drive Integrated Value-Based Care Models

Businesswire | June 08, 2023

Curana Health, a provider-led, primary and post-acute organization focused on senior living communities, has selected Netsmart as their healthcare technology partner to enhance care coordination and delivery, to better support value-based models of care by leveraging the CareFabric® platform. Through this collaboration, Curana will utilize a comprehensive suite of highly customized solutions to advance consumer engagement initiatives, expand value-based care and effectively manage high-risk populations across their facilities nationwide. Curana Health currently serves more than 1,000 senior living facility partners. Curana Health will serve as a thought leader and innovation partner with Netsmart in order to continue their successful expansion. Specifically, Curana will leverage GEHRIMED, a cloud-based mobile electronic health record (EHR) solution designed for and by long-term/post-acute care (LTPAC) practitioners with capabilities needed to enhance care, simplify workflows and manage compliance. GEHRIMED, an ONC-certified solution, provides efficient documentation for clinicians and streamlines quality measure support for merit-based incentive payment system (MIPS), accountable care organization (ACO) measures management and value-based care initiatives. “Our goal is to enhance the senior living healthcare experience in such a profound way that we inspire national improvements in the care of older adults,” said Curana Health CEO Mark Price. “Our technology platform plays a key role in ensuring our clinicians have well-designed workflows, actionable data at the point of care, and an enhanced ability to collaborate effectively with other clinicians. The Netsmart CareFabric is a key part of the best-in-class technology platform that Curana Health providers use.” Curana plans to expand its use of the CareFabric leveraging the myHealthPointe™ consumer engagement platform which supports remote health status monitoring to present insights to providers to help prioritize care. Also connecting individuals and families to their care plan through a user-friendly, secure solution. Additionally, the organization will benefit from the powerful Netsmart interoperability framework to seamlessly share and exchange data with health information exchanges and providers across the healthcare ecosystem to support continuity of care. “Empowering Curana Health with innovative technology solutions to revolutionize coordinated, value-based care and drive exceptional outcomes is at the core of this partnership,” explained Beth Reece, VP & General Manager at Netsmart. “The organization will benefit from obtaining a person-centered view, leveraging enhanced relationships with health systems and payers to provide tailored care in preferred settings. Cutting-edge solutions unify their approach to improve consumer-driven care, enhance senior living environments, and achieve advanced models of care with optimized outcomes for those they serve.” Through this relationship, Netsmart and Curana will continue to collaborate on ways to utilize the CareFabric platform to support Curana Health’s integrated model of care. About Curana Health Curana Health’s mission is to improve the health, happiness, and dignity of senior living residents. With a combined footprint reaching 26 states and over 1,000 senior living facilities, Curana Health innovates solutions for senior care delivery with a unique focus on prevention and care coordination. About Netsmart Netsmart, a leading provider of Software as a Service (SaaS) technology and services solutions, designs, builds and delivers electronic health records (EHRs), health information exchanges (HIEs), analytics and telehealth solutions and services that are powerful, intuitive and easy-to-use. Our platform provides accurate, up-to-date information that is easily accessible to care team members in the human services and post-acute care (which is comprised of skilled nursing, home care, hospice, palliative and senior living), and payer markets. We make the complex simple and personalized so our clients can concentrate on what they do best: provide services and treatment that support whole-person care.

Read More

DIGITAL HEALTHCARE

The IMA Group Announces Acquisition of Pontum Health

Businesswire | June 07, 2023

Further extending its service area to two key new states and strengthening it in an existing market, The IMA Group (IMA) announced today the acquisition of Pontum Health, a regional provider of Social Security Disability evaluations currently operating in the Pacific Northwest. The IMA Group is a technology-driven medical and psychological screening and evaluation service provider with more than 30 years of experience in returning people to work and productivity. Founded in 2012 and headquartered in the Seattle Metro area, Pontum Health is a provider-owned and operated company managed by husband and wife co-founders Anjali D'Souza, MD, FACP, Internal Medicine, and Peter Meis, MD, Psychiatry. The acquisition is IMA's third in the Social Security Administration (SSA) and Disability Determination Services (DDS) space and 17th overall and continues the company's long-standing commitment to providing high-quality Consultative Examinations (CEs). With the latest acquisition, IMA now provides medical and psychological evaluations and related services in more than 40 states, including further reach in Washington and adding Alaska and Oregon through the Pontum acquisition. "As the marketplace continues to recover from COVID and as mental health and other conditions continue to impact employers and payers, the demand for quality outsourced SSA and DDS evaluations is greater than ever," said Dr. Mark Weinberger, President & CEO of The IMA Group. "We continually look for businesses that reflect our culture and enhance the services we bring to our clients and the businesses we acquire. Pontum is another great fit for The IMA Group." Financial terms for the two privately held companies were not disclosed. Pontum Health will continue to operate under its current name to ensure a seamless transition for existing clients. The core leadership team will remain in place, including founding physicians Anjali D'Souza, M.D. and Peter Meis, M.D. About The IMA Group For over 30 years, The IMA Group, headquartered in Tarrytown, New York, and with offices nationwide, has been dedicated to helping people get back to work and resume productivity. Over the past 10 years, IMA has conducted more than three million evaluations nationwide, utilizing thousands of providers at IMA's 150+ offices and independent locations. The company provides Evaluation Services through its Government Services division to clients with medical, psychological, and related evaluations, as well as ancillary services, and through its Payer Services division to support Commercial Insurers, TPAs, and Corporate clients with Independent Medical Evaluations, Case Management, and Occupational Health Services, Fitness for Duty determinations, Pre-Employment examinations and Forensic Drug Testing. The Clinical Research Division offers access to new advances in pharmacology and biotechnology for research subjects and a robust database of interested participants for pharmaceutical manufacturers.

Read More

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