Innovative Software Can Reduce Healthcare Spending in America and the GDP
DALLAS, TX / ACCESSWIRE / October 5, 2021 / America may have the most advanced healthcare system in the world, but it is a highly inefficient one and is dominated by wasteful spending – between 20-25%, according to a 2019 study. That alarming statistic leads to another problem in the United States: per The Commonwealth Fund, we spent $3.8 trillion on healthcare in 2019 alone, which translated to nearly 18% of the gross domestic product.
None of this may surprise you, as the bloated costs surrounding a trip to the doctor are known to most people. It begs the question, however, of how exactly we’re going to fight the problem and turn the page on expensive medical care. Are we ready to invest in new technology that can replace outdated systems and give our medical professionals the tools they need to serve patients efficiently? What exactly would that look like, and what would the results be?
Investing in a cloud-based system for all hospitals, assisted living centers, and other medical facilities would be ideal, as it would eliminate redundancies and allow employees to collaborate more effectively. This would decrease the costs of healthcare and contribute towards eliminating wasteful spending. Carecenta Holdings Inc.’s cloud-based technology is one such model. With one system, employees across a variety of companies can access the same system at any time of the day or night and create schedules, make appointments, see in real-time the efforts of other employees, and keep patients’ files. It leads to three of the biggest benefits of a cloud-based system: the elimination of paper, the avoidance of duplicated efforts, and the integration of departments, all of which lead to significant savings that can be passed on to patients.
Our society would also benefit from investing in technology that will streamline human resources and billing departments. Think about the workload of their employees. A typical coordinator who must verify schedules or attendance can be expected to handle 50 cases. An HR employee might manage 500 employees while in Billing, a staff member might be responsible for 150 patients. Can we do better? Can we increase those numbers and see efficiency in healthcare go up? With Carecenta’s technology, it has already been shown to be possible: 50 cases quickly became 200, 500 employees increased to 2,000, and 150 billing cases exploded to 1,500. Consider, then, two things: how much time and money innovative software can save for the healthcare industry and how we can invest in it so that more healthcare facilities see similar benefits.
Our pharmacies are not exempt from scrutiny. Too many are still hampered by antiquated technology that slows service time and communication between the pharmacy and medical provider, resulting in higher prices and frustrated patients. This is especially true for infusion and specialty pharmacies. Is this an opportunity for investment, also? What we need is software that can provide much faster exchanges of information as well as keep sensitive information secure, which would bring healthcare costs down. Carecenta’s Pharmacenta Solution is worth exploring on a larger scale. With the ability to streamline order delivery and processing and to minimize billing turnaround, the bottom line of speciality pharmacies is strengthened. By investing in more technology like this, we will give pharmacists the power to serve more clients at a faster speed, bringing down another cost in healthcare.
An often overlooked expense in healthcare is audits. Government agencies and insurance companies must conduct in-person, door-to-door audit visits in person in order to provide oversight of managed long-term care programs, patients, and plans. Carecenta Monitor Solution’s model for how to clear up a murky area in healthcare may be a key way to reduce costs. It uses Big Data Analytics and also allows regulators to conduct remote audits of the participating agencies’ employees and patients in real time, with the added benefit that the risk of improprieties is reduced. Every aspect of healthcare, including audits, is well-worth examining so that healthcare can become more efficient and cost-effective.
Wasteful medical spending of $3.8 trillion, which contributes to almost 18% of the GDP, can be reversed by implementing software and processes targeted to each weakness in our healthcare system. It is only a matter of designing and investing in the solutions. As a society, let’s aim for a completely different conversation about healthcare ten years from now, one that marvels at how it has been dramatically improved and the resulting savings has been passed on to those who need them most: the patients.
Carecenta Home Care Solution is a one-stop solution to intake, patient management, home care visit scheduling, compliance, billing, accounts receivables, payroll, and reporting.
For more information about Carecenta:
Website: https://www.carecenta.com/
Facebook: https://www.facebook.com/carecenta/
Twitter: https://twitter.com/carecenta?lang=en
Phone: +1(646) 774-2000
CARECENTA, INC.
SOURCE: Carecenta
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