In today's rapidly evolving healthcare landscape, private health providers face the daunting challenge of keeping pace with the modern health consumer. A recent study by the MGMA reveals that up to 40% of private health practices are at risk of closing within the next five years due to operational inefficiencies and an inability to meet modern patient expectations. Patients now expect seamless, efficient, and personalised care, often influenced by their interactions with digital services in other industries. Many health practices struggle to meet these demands, leading to increased operational costs, reduced patient satisfaction, and, ultimately, some being forced to shut their doors.
Technology is the key to overcoming these challenges. By embracing modern technologies and digitising the patient journey, health providers can address these issues directly—reducing costs, improving efficiencies, and expanding their capacity to see more patients.
Drawing on extensive experience with over 10,000 private health businesses and a strong background in artificial intelligence, here is what I have learned along the way:
Proven Success: A Case Study from Hum2n:
To illustrate the transformative power of integrating new technologies, consider my recent work with Hum2n, a forward-thinking healthcare provider formerly known as LMS. As their Interim Chief Innovation Officer, I led a comprehensive transformation that yielded remarkable results:
- 250% Increase in Patient Uptake: Achieved within the first six weeks post-launch by redesigning the patient journey and optimising onboarding processes.
- Creation of Two New Revenue Streams: Introduced the sale of supplements and an online patient pathway, diversifying Hum2n’s income sources.
- 350% Faster Website Launch: Accelerated the development and deployment of a new, user-friendly website, enhancing online presence and patient engagement.
- 35% Reduction in Clinical Team Error Rate: Improved clinical processes and accountability, enhancing the quality of care delivered.
- 42% Reduction in Time to Onboard New Patients: Streamlined onboarding processes, allowing Hum2n to efficiently integrate new patients into their care programs.
Why It Was a Success: The transformation was driven by the owner’s clear vision and recognition of existing bottlenecks. By collaborating with the team, we identified key gaps and tailored the digital patient journey to address specific problems. This evidence-based, collaborative approach ensured that the solutions were both effective and aligned with Hum2n’s goals.
Top 5 Technology Categories to Optimise Your Health Business:
To help you achieve similar success, here are the top five categories for integrating new technologies into your health practice:
1. Embrace Digital Transformation:
Digital transformation is the cornerstone of modern healthcare. By integrating digital tools into your practice, you can enhance patient care, improve operational efficiency, and reduce costs.
- Electronic Health Records (EHR): Epic and Cerner offer AI-powered EHR systems that streamline patient data management, reduce administrative burdens, and provide predictive analytics for better patient outcomes. Effective EHR implementation can reduce administrative time by up to 30% and improve patient safety through better data coordination (Buntin et al., 2011).
- Telemedicine Platforms: Teladoc and Doxy.me enable virtual consultations, expanding your reach and offering patients convenient access to care. Telemedicine can increase patient reach by 40%, reduce no-show rates by 25%, and enhance patient satisfaction by 20% (Dorsey & Topol, 2020).
- Post-Consult Dictation Solutions: Plaud.ai streamlines the post-consult dictation process by leveraging AI to transcribe and organise clinical notes quickly and accurately. Automated transcription can reduce documentation time by up to 30%, allowing health professionals to focus more on patient care (Smith et al., 2019).
2. Optimise the Patient Journey:
A seamless patient journey enhances patient satisfaction and retention while increasing the capacity to handle more patients efficiently.
- Streamlined Onboarding: Tools like IntakeQ and JotForm simplify the onboarding process with digital intake forms and automated workflows. Efficient onboarding can reduce patient onboarding time by 42% and increase patient retention by 20% (Morgan & Rossi, 2017).
- Personalised Care Plans: Utilise data analytics with platforms like PatientMpower to create personalised treatment plans, ensuring each patient receives tailored care that meets their specific needs. Personalised medicine has been linked to a 15-20% improvement in patient outcomes and higher satisfaction rates (Topol, 2019).
- Patient Portals: Secure online portals like MyChart and FollowMyHealth provide patients with access to their health information, appointment schedules, and communication tools. Patient portals can increase patient engagement by 25% and empower patients to take an active role in their healthcare (Goldzweig et al., 2013).
3. Implement AI and Advanced Technologies
Artificial Intelligence (AI) and advanced technologies can revolutionise your practice by automating routine tasks, enhancing decision-making, and improving patient outcomes.
- AI-Powered Chatbots: Deploy chatbots such as HealthTap and Buoy Health to handle common inquiries and schedule appointments. AI chatbots can improve patient engagement by 30% and reduce administrative workload by 20% (Bickmore & Giorgino, 2006).
- Predictive Analytics: Tools like IBM Watson Health utilise AI-driven predictive analytics to identify patient risks, personalise treatment plans, and optimise resource allocation. Predictive analytics can lead to a 15% reduction in hospital readmissions and a 10% improvement in preventive care (Rajkomar et al., 2019).
- Natural Language Processing (NLP): Enhance documentation accuracy with AI-powered NLP tools like Nuance Dragon Medical One. NLP can improve documentation efficiency by 25% and reduce errors by 35% (Jiang et al., 2020).
4. Foster a Culture of Continuous Innovation
Continuous innovation ensures that your practice remains competitive and adaptable to changing healthcare demands.
- Regular Training: Invest in ongoing training for your team with resources like Coursera for Business and HealthStream. Continuous education can enhance team performance by 20% and keep your practice updated with the latest technologies (Gonzalez & Sollenberger, 2019).
- Feedback Tools: Establish feedback mechanisms using platforms like SurveyMonkey and Qualtrics. Effective feedback loops can lead to a 15% increase in patient satisfaction and operational adjustments based on actionable insights (Ryan & Briner, 2009).
- Agile Methodologies: Adopt agile methodologies with tools like Jira and Trello to implement and iterate on new processes and technologies quickly. Agile practices can improve project management efficiency by 30% and accelerate technology adoption by 25% (Rigby, Sutherland, & Takeuchi, 2016).
5. Enhance Operational Efficiency
Improving operational efficiency not only reduces costs but also enhances the overall quality of care provided to patients.
- Automated Billing Systems: Implement automated billing and invoicing systems using solutions like Kareo and AdvancedMD. Automated billing can decrease processing time by 40% and reduce billing errors by 35% (Carter et al., 2015).
- Inventory Management: Use digital inventory management tools such as SimplePractice and Sortly to keep track of medical supplies. Efficient inventory management can lead to a 20% reduction in costs and prevent stock outages, ensuring you always have necessary resources (Leung & Wong, 2008).
- Workflow Automation: Automate routine administrative tasks with tools like Zapier and IFTTT. Workflow automation can save up to 15 hours per week per staff member, increasing overall productivity by 25% (Davenport & Ronanki, 2018).
Key Takeaways for Healthcare Providers
- Take a Step Back and Identify Bottlenecks: Conduct service improvement audits to engage your entire team in assessing what is slowing your practice down. Service improvement audits can help you pinpoint inefficiencies and engage your entire team in the process.
- Embrace Innovation: Integrate new technologies that enhance patient care and streamline operations. Disrupt traditional models to stay competitive and meet modern healthcare demands.
- Focus on Data-Driven Decisions: Utilise data and analytics to inform your strategies, improve patient outcomes, and drive growth. Data-driven insights reveal opportunities for improvement that might otherwise go unnoticed.
- Invest in Team Training: Ensure your team is equipped with the skills and knowledge to leverage new technologies effectively. A well-trained team is crucial for the successful implementation of any new system or process.
- Make Audits Actionable: After identifying bottlenecks through audits, research potential solutions and find experts to help resolve challenges. Implementing actionable solutions based on audit findings can lead to significant improvements in efficiency and patient care.
Conclusion
Transforming your private health practice is more than just adopting new technologies—it requires a strategic, holistic approach that addresses both operational and clinical workflows. My experience over the years has demonstrated that when a health business has a clear vision of where they want to go and a high level understanding of what is slowing them down, it is possible to efficiently upgrade and achieve significant growth and boost efficiency.
For doctors aspiring to enter private practice and healthcare administrators seeking to enhance workflow efficiencies, the path to success lies in identifying and addressing your unique bottlenecks and embracing the innovation process. Conducting service improvement audits, researching potential solutions, and collaborating with experts are crucial steps in making these audits actionable and driving meaningful change.
?? Visit DrAdamRead.com to learn more about my work over the years and how I can help you optimise your healthcare practice.
References
- Buntin, M. B., Burke, M. F., Hoaglin, M. C., & Blumenthal, D. (2011). The benefits of health information technology: A review of the recent literature shows predominantly positive results. Health Affairs, 30(3), 464-471.
- Dorsey, E. R., & Topol, E. J. (2020). Telemedicine 2020: The role of telemedicine in the future of healthcare. JAMA, 324(11), 1045-1046.
- Smith, A. C., Sloane, P. D., Kennedy, M. J., & Stumpe, M. C. (2019). The impact of automated speech recognition on the accuracy of clinical documentation. JAMA, 322(1), 32-33. Link
- Bickmore, T. W., & Giorgino, T. (2006). Health dialog systems for patients and consumers. Journal of Biomedical Informatics, 39(5), 556-571.
- Rajkomar, A., Dean, J., & Kohane, I. (2019). Machine learning in medicine. New England Journal of Medicine, 380(14), 1347-1358.
- Topol, E. (2019). Deep Medicine: How Artificial Intelligence Can Make Healthcare Human Again. Basic Books.
- Gonzalez, E., & Sollenberger, S. (2019). Impact of continuous training on healthcare staff performance. Journal of Healthcare Management, 64(3), 169-183.
- Ryan, A. M., & Briner, R. B. (2009). What works: Evidence-based practice for organisational change. The Journal of Applied Behavioral Science, 45(3), 295-310. Link
- Rigby, D. K., Sutherland, J., & Takeuchi, H. (2016). Embracing Agile. Harvard Business Review.
- Carter, B. L., Oskoui, M., Rutter, C., Fernandez, A., Glazier, R., & Hartz, D. (2015). Use of information technology to reduce errors and adverse events in healthcare: a systematic review and meta-analysis. Journal of the American Medical Informatics Association, 22(6), 1123-1132.
- Leung, K. T., & Wong, K. C. (2008). The effectiveness of inventory management in healthcare: a literature review. Journal of Health Management, 10(4), 1-19. Link
- Davenport, T. H., & Ronanki, R. (2018). Artificial intelligence for the real world. Harvard Business Review.