In today’s challenging financial environment amid rising labor costs and staff shortages, many healthcare organizations are prioritizing technology investments to improve operations.
Now comes the hard part: re-evaluating the post-implementation value of digital solutions. In examining the provider landscape, Oliver Wyman leaders recently noted that three strategies have consistently delivered high value to hospitals and health systems.
3 digital strategies with great potential
1 | Rethink your front door care:
Follow this strategy if you aim to attract new patients, increase retention rates, and enhance patient comfort.
2 | Improving health management processes:
Consider this strategy if existing operations become financially unsustainable or if your organization feels constrained in its ability to respond to market dynamics.
3 | Improving analytical functions for value-based care:
This approach can help service providers looking for new processes and tools to manage risks effectively.
Provider organizations can take different paths in mapping out their strategies in these areas, the report notes. Although resource constraints will limit the number of implementations a hospital or health system can undertake, each provides a specific benefit that enables providers to prioritize their investments.
Digital front door drivers:
Optimize direct-to-consumer virtual care for greater patient convenience across synchronous and asynchronous solutions. Enhance access with self-service scheduling capabilities by giving patients the ability to schedule virtual or in-person appointments in real time over the Internet.
Remove:
Increase stability through automated and personalized patient engagement. Improved analytics will deliver a personalized patient experience. In addition, patient interactions will be linked across channels to provide immediate support throughout the patient journey and effective patient retention through enhanced referral processes.
Automation keys to simplify management processes:
Look forward to automating patient and staff workflows. Real-time adjustments to schedules due to factors such as cancellations or no-shows can be made, thus increasing staff efficiency and patient comfort. Insurance verification automation also improves the patient experience by reducing friction with payers and reducing unnecessary or compounding labor and operating costs.
Remove:
Lower operating costs can be achieved by implementing smart capacity planning for flexible staffing. Predictive analytics can help define an optimized staffing plan and reduce costs. Appropriate staffing levels can also reduce overtime costs, enhance employee satisfaction and lead to improved patient care.
3 keys to successful digital investment
1 | Prioritize digital investments that can have a significant impact on the organization’s strategy.
Providing differentiated experiences – particularly in relation to commodity services – is critical. Whether it’s a market-leading specialty offering or a continuously accessible primary care network, health systems must focus on how their technology investments advance their strategies and goals.
2 | Introducing the Omnichannel experience
Consumer experiences have been shaped by countless online retailers. They expect the convenience of seamless auto-fill address and credit information across multiple online platforms. The experience is the property of non-acute patients and specialized patients who want a seamless experience and expect their data to follow. This makes it essential to understand how vendors will integrate with your electronic health record and the role it will play in future technology decisions.
3 | Use digital investments to accelerate critical operating model changes.
You now have the decision space and market conditions to justify changes in your technology and operations. Go beyond asking what technologies you need and assessing which processes need to be rethought.