Growing Social Media: Lemonade for the Healthcare Industry
Industry: Social Media
New York, NY (PRUnderground) September 5th, 2014
The healthcare industry is rolling in lemons, leaving a bitter taste in the mouths of practitioners. The healthcare industry today is closely analogous to the situation in most other industries in the early 1970’s. Companies that survived the turmoil of those gut wrenching days (such as; Toyota, McDonalds and IBM) have severely lowered their costs as well as increased the quality of their products. Clearly, the winners were able to make lemonade out of the lemons. The innovators and visionaries in the healthcare industry will do the same.
One company demonstrating a commitment to the ongoing improvement of their products, is CBIZ Inc (CBZ). On August 25 2014, CBIZ, Inc. appointed John A. Fleischer as their new Chief Information Officer, showing a continued dedication to nurturing technological advancement at CBIZ. With 25 years of experience, Chairman and CEO of CBIZ, Steve Gerard believes he will be “invaluable to the future growth and success of CBIZ.”
Private Equity Investor and Healthcare Industry expert Paul Parmar stated, “The key components required for success in the healthcare industry are all available in raw form. Companies like Constellation Healthcare Technologies are refining the components and providing a seamlessly integrated platform to deliver superior patient care at the lowest cost to the medical practice, while at the same time maximizing collections and minimizing accounts receivable time.” This certainly sounds like the makings of a tasty lemonade for the healthcare industry― but what are the components and what is a seamlessly integrated platform?
The most successful practices will be those that are able to optimize all of their processes using a seamless workflow to ensure that all data is entered only once then controlled and secured to ensure 100% compliance and complete elimination of redundant data entry. The practices that cling to paper and non-integrated processes will continue to see their income decline.
For small and mid-size practices, it makes sense to outsource large portions of their back office processes taking advantage of their technology, processes and expertise, thereby acquiring the benefits of a large organization without the overhead costs. This is where companies like Constellation Healthcare Technologies, and Team Health (TMH) are able to provide consulting services to optimize the internal processes, and the technology, processes, and expertise to support any processes that cannot be done cheaper internally. Other advantages include world class reporting, Business Intelligence tools, and expert on-going advice.
In the next 12 months, medical practice owners and managers will create a trend to outsource billing and all business processes instead of directly interacting with the patient face to face. It is interesting to see that even many large healthcare organizations are choosing to outsource some of their processes to avoid the training and staff turnover complications and associated costs involved with an in-house operation.
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