The healthcare industry remains on the cutting edge because it gets introduced to the newest technologies first. As patients demand more from their providers and providers demand more from their technology, healthcare ERP is driving the healthcare industry in ways never imagined.
Arising, in part, from the need to establish a more cost-effective approach to patient care, the healthcare industry has always welcomed innovation with open arms and medical practice enterprise resource planning (ERP) is always evolving to meet the needs of the industry.
Below are some of the trends to healthcare ERP technology we’re keeping an eye on:
Artificial intelligence (AI) has transformative power in every industry it touches, but none more life-changing and life-saving than in healthcare. From drug development and surgery assistance to deeper insights from clinical research, the implications of AI in healthcare are staggering.
AI-accessible healthcare ERP brings the advantage of learning algorithms which become more precise and accurate giving humans new insights into diagnostics, patient care, treatment options and more.
One of the most significant advancements in ERP that reduces hospital expenses is the expansion of predictive analysis capabilities. Healthcare providers can use predictive analytics to identify trends that affect, for example, patient readmissions.
Predictive analytics uses artificial intelligence subsets such as machine learning combined with data mining, statistics, and modeling to analyze hospital and patient data to forecast future needs.
Hospital readmissions is one of the most costly and unnecessary problems facing the healthcare industry today. By understanding the trends that affect patient readmissions, healthcare providers can then install processes in their patient care systems to minimize the problem.
Because of the data analytics and search features of ERP, researchers are able to pinpoint relationships between data sets, making it easier to determine epicenters of outbreaks, common risk factors for diseases and ailments, share data with other members of the research team, etc.
For many years, medical practices have been hesitant about moving to the cloud due to account hacking, data theft and other security issues. Citing a number of high profile data breaches in various industries over the last few years, hackers have been able to overcome security measures and make off with sensitive patient data on multiple occasions.
Today, security compliance is a major driver of medical practice ERP and cloud adoption. New advancements in fingerprinting, eye scanning, voice recognition and digital encryption features all serve to improve ERP security. This includes block chain encryption, which de-centralizes data clusters and makes it significantly harder to steal data.
The Internet of Things (IoT), which is simply a network of Internet connected objects able to collect and exchange data, has allowed more and more patients to skip the doctor’s office and opt instead for a device to see a doctor or receive treatment.
ERP software is expanding to include features specifically geared toward this kind of medical consultation process, allowing healthcare practitioners to access and track patient medical records from anywhere. Doctors can use remote monitoring to get more informed conclusions about a patient’s health. With the help of telemedicine, costs for a hospital visit are reduced.
ERP software is extremely important in the healthcare field, and it is becoming more important for medical practices each year. Due to the HIPAA regulations and data privacy, Sage Intacct is among the few technology solutions that support the healthcare industry. Sage Intacct lets facilities easily interface accounting software with other technologies to set up automation for standard processes, streamlined reporting and improve data transparency.
e2b teknologies has a deep understanding of the unique accounting and financial management needs of healthcare facilities and offers systems for practitioners who want seamless accounting, clinical and business management solutions. Contact us to discover how Sage Intacct can help manage your healthcare facility.