While 2016 was a year of ongoing change, 2017 is shaping up to be a year of action in healthcare. Patients are now consumers, and there is more pressure than ever on industry leaders to meet their high demands while balancing new regulations. For laboratories, these changes have resulted in an overwhelming need to do more with less – all while finding new ways to grow.
Luckily, laboratories have become notorious data collectors. The abundance of clinical and business data available to lab decision makers will become the foundation for thriving in 2017 and beyond. A renewed dependence on technology means that it’s now easier than ever for labs to unlock the power of this data and in turn embrace the “new rules” for survival:
Rule #1: Cutting Costs by Precisely Understanding Workflows
Workflows are often siloed and halted because data is housed across multiple systems and records, and challenges arise when trying to unify this data to uncover trends and challenges in real-time.
Today’s innovative lab leaders are turning to healthcare-specific CRM solutions to help:
- Integrate various data, including both clinical and business data, into a single HIPAA-compliant location
- Automate and streamline everyday internal process to increase productivity and efficiency
- Quickly visualize where operational breakdowns are occurring, identify root causes, and proactively follow up on issues
Rule #2: Automating Quality & Utilization Management
Rather than relying on time-consuming, manual processes to understand lagging KPIs and adequately prepare for quality inspections, labs can use healthcare-specific technology to automatically translate data into insight and trends that are available in real-time.
Additionally, labs can automate utilization management to immediately identify over-utilized, under-utilized, antiquated, or unreimbursed tests. Labs can then take this data and use it to help guide ordering physicians towards data-backed best practices.
Rule #3: Boost Reimbursements with Real-Time Analytics
Sometimes it seems as though insurance companies spend a majority of their time figuring out how not to pay for tests. If a lab knows exactly which tests will never be reimbursed, why do they still let their providers order these tests? Data is the key to truly understanding reimbursements and educating ordering providers on these trends.
Today’s labs can now:
- Visualize metrics such as overall reimbursed test volume, which physicians are ordering which tests, and the frequency of unreimbursed tests
- Bring this complex data to life and visualize it using real-time analytics and dashboards
- Communicate with and educate providers around which tests to order in which situations
Download the full whitepaper to see the results Cleveland Clinic, Sonora Quest JVL, and Incyte Diagnostics all saw after taking proactive steps towards internal efficiency and workflow optimization.