As the saying goes, every crisis is an opportunity in disguise. The global pandemic has highlighted the significance of generating and processing high-quality healthcare data. As the healthcare ecosystem is looking to rebound and mitigate the severe impact of COVID-19, organizations are under enormous pressure to improve clinical, operational and financial efficiency.

This necessity to bring holistic results has fostered Hospitals and Practices to increasingly adopt cloud ERP and other next-gen technologies. However, healthcare organizations must have a proper data structure in place, while moving to the cloud environment. Healthcare leaders across the globe are already innovating new data modernization strategies by integrating automation, standardization and other tactical measures. Organizations are making their way forward to leverage the capabilities of data in driving clinical, operational and financial excellence.

Standardize and Streamline Data

A Hospital’s supply chain for instance is primarily handled by an item master. However, various components increase the complexities in ensuring data integrity: disintegrated systems, multiple stakeholders, and technological challenges among the others. Healthcare industry’s supply chain management involves various levels of streamlining data across siloed systems. Organizations need to centralize data as part of the streamlining process. Standardizing data allows supply chain teams to stay on top of administrative tasks and focus on higher priority activities like product performance analysis and spend across various segments. Data centralization also allows Hospitals to stay compliant with the Price Transparency Final Rule and Price Transparency Executive order, setting the stage for future contingency plans.

Adopt International Standards

Adopting the international standards and best practices helps improve revenue cycle reimbursements. The Healthcare Common Procedure Coding System (HCPCS) helps provide accurate reimbursements for procedures, supplies, products and services. Most often, there is a miscommunication in assigning the right HCPCS codes. However, the right HCPCS codes enable improved billing accuracy, while ensuring better and faster reimbursements by the Centers for Medicare & Medicaid Services (CMS), and private payors.

Data Integration

Besides centralization and standardization of data, it is essential that healthcare organizations develop data integration strategies to seamlessly integrate critical data from systems like EMR, EHR, ERP, among many others. This fosters a comprehensive benefit of accelerating the financial, operational and clinical performance of an organization.

Data integration is one of the key ways to foster cross-departmental collaboration that can facilitate 360-degree view of crucial patient data, which allows for better decision-making and timely intervention. By structuring and streamlining these data, all the key stakeholders can efficiently track and monitor the clinical, operation and financial efficiencies.

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About SolvEdge

From our humble beginnings as a healthcare start-up—to becoming a full-blown healthcareexclusive digital transformation provider, our journey has been quite a remarkable one. Today, SolvEdge is a leading-edge Healthcare services and solutions provider—trusted by 450+ Hospitals, 3500+ Physicians and millions of patients across the globe.

By leveraging next-gen technologies like AI/ML, Deep Learning, and NLP/Text Mining Algorithms, our stand-alone technology services help streamline digital healthcare initiatives, including Application Development, Advanced Visualizations, Enterprise Workflow Integration and Guided Care Pathway Management. This includes syntheses of Real-World Evidence by curating, integrating, and harmonizing healthcare datasets into a standard data model—or customized to dovetail into client requirements.

The SolvEdge healthcare framework is revolutionary because our approach is based on an absolute dedication to insight-driven analytics on outcomes. Hundreds of healthcare organizations have saved millions of dollars working with SolvEdge digital healthcare technology solutions in maximizing healthcare effectively. To learn more about our healthcare digital transformation solutions talk to our team.