Playing defense is key to hospitals and provider organizations remaining financially healthy, according to the American Medical Association. A recent survey from the Medical Group Management Association (MGMA), on the financial impact on medical practices, found that physician practice revenue has been cut in half during this unprecedented public health crisis. In addition, a “majority of health systems are slated to lose an average of $2,800 per COVID-19 case if payers do not raise reimbursement rates for hospitalizations.” A defensive approach can help navigate disruptions and mitigate further losses resulting from the coronavirus.
Automation is a Defensive Ally to Hospitals and Healthcare Providers
Using automation has allowed our customers and technology partners to quickly adapt to changing conditions and ease financial stressors. The projects below have proven to be the most impactful, allowing hospitals, providers, and organizations to address losses, reduce inefficiencies, and improve productivity during this uncertain time:
- Accelerate COVID-19 testing by automating lab and remote site processes
- Automate required reporting of test results, bed, and case counts as required by CDC/HHS and state agencies
- Process revenue cycle transactions, tasks, updates, and reporting
- Automate patient registrations, patient kiosk, and COVID-19 questionnaire data
- Monitor and manage productivity gaps for a widely distributed, remote staff
- Centralize data from multiple areas/units/facilities impacted by COVID-19
- Accelerate HR and employee health functions, onboarding, and healthcare hiring
- Enable materials management and procurement in supply chain and medical supplies
Are You Paying the Price to be on the Bleeding Edge of AI?
Artificial Intelligence (AI) is well established in some clinical areas, but when it comes to healthcare revenue cycle and automation, more data and training is needed for AI to make a noticeable improvement. There are alternatives that are far less expensive, easier to deploy, and largely deliver the same results. Our 30 years of healthcare experience and thousands of connections enable us to quickly implement automated processes. So, instead of shelling out money to help AI become a viable option in this space, use a proven and capable solution that provides a higher return on investment in the immediate and long-term.
According to the MGMA, “Physician practice revenue has been cut in half during the unprecedented public health crisis.” Fearing physician practices could shutter their doors during the crisis, 138 state medical societies and national physician specialty organizations urged lawmakers to adjust Medicare and Medicaid reimbursement.
Recent Boston Software Automation Projects
COVID-19 is putting a lot of demand on an overburdened healthcare system, overwhelming the capacity of hospitals, emergency departments, and outpatient centers. Automation helps providers and hospitals #bridgethegaps experienced by remote working situations that delay billing efficiency and productivity. Automation helps prevent interruptions or slowdowns in the claims process. There is a better way to execute on revenue cycle tasking and it’s through automation. Automation is 100% accurate, has no days off, and is productive 24/7, regardless of staffing fluctuations.
Testing and Reporting
Automation can create and transmit reports for testing results, bed counts, and cases to CDC, HHS, and state public health agencies on a routine basis. These automations can often be implemented in less than one week, automating daily reporting and alleviating a manual administrative burden on an already overwhelmed health system.
Remote work will likely continue in the future at some capacity, even for groups that don’t normally work remotely. Managing expectations, setting clear and concise goals, and monitoring results needs to be a seamless, transparent process. Boston Software Systems is offering a fully customizable Productivity Dashboard to hospitals and health systems, with no licensing or support fees for the first year.
Additional Reporting Needs
Automation can assess organization risk levels by compiling detailed reports with the latest information tailored to the organization’s needs. Whether compliance, security, human resources, supply chain, or materials management, automation can ease the burden of reduced staffing by automating critical tasks, workflow, and reporting.
Whether revenue cycle management, change management, onboarding, fraud detection, or acceleration of COVID-19 testing, Boston Software Systems is deployed in every part of the hospital, with connections in over 4,000 systems globally. We are healthcare-specific and have a broad range of use, allowing automation to work alongside humans and take over repetitive processes that can bog down a repeatable process, like claims checking, denial management, COVID-19 lab result/bed case/bed count reporting, and telehealth tracking.
Why Boston Software Systems?
In most cases, our automation solutions can be deployed in less than 30 days, with some in less than 10 days, with an immediate ROI. AI deployment takes much longer, is more expensive, and you never stop paying for “AI as a Service.” Turn to a team you can trust.
At Boston Software Systems, we have experienced the ups and downs of healthcare for the last 30 years, staying true to our values and healthcare centricity. This storm will pass. In the meantime, let us partner with you to improve workflows, reduce manual data entry, and take care of tasks, so your team can focus on the human aspect of healthcare, people.