The fee-for-service model of Reimbursement would invariably result in more expenses for greater amounts of services like tests, scans, therapies, and other kinds of treatment recommended by the providers. Healthcare spending in the United States has been much higher than in other countries, and it has a serious impact on the economy. Surveys and research by various organizations have concluded that the cost of hip replacement surgery in the United States is comparable to putting down a down payment on a house in many other countries! Many view this as a gross violation of basic human needs since every person is bound to be sick or injured at least once in their lifetimes.
Healthcare spending in the country has crossed $3.5 trillion, and it is more than 15% of the country’s gross domestic product. Moreover, that’s more than the entire economies of all but four countries – The United States, China, Japan, and Germany. The US has the lowest life expectancy of all the high-income countries in the OECD and twice the average rate of obesity.
These eye-popping numbers show a system that doesn’t help patients, but it also shows a wide chasm between the hard-earned money spent on medical care and the relatively poor outcomes for patients. Whether the medical paid through government initiatives, insurance coverage, or the patients’ pockets, they would end up with the providers.
Artificial intelligence-powered insurance claims analytics software would speed up the entire workflow with fewer errors and greater accuracy. Insurance claims processing considers the services rendered by the providers, checks the necessity or validity of those services, and cross-references them with the health plans of the patient. If everything seems to be in order, the claims are accepted and the provider reimbursed. But if there is a slight discrepancy, the claim might be denied or rejected.
Earlier, the health industry depended on paper-based and manual systems to organize, store, and analyse patient health informatics. This is where information technology comes into play by introducing a rapid advancement and invasion of the healthcare sector. Physicians and healthcare organizations can now efficiently store data on secure cloud-based systems. Health Informatics is a combination of health and information technology. Health informatics refers to a process that involves data collection, storage, retrieval, and presentation in a digital format to help...
The present times have seen the rise of the virtual healthcare scenario. EHR systems in healthcare have, consequently, risen to the occasion. Health access is still limited in many areas, especially remote locations and villages. EMR systems in healthcare offer patients the convenience of reaching out to physicians anytime from anywhere. Elderly patients and chronic needs can also benefit from virtual medical health records. They can have virtual consultations through...
Effective Patient Engagement Solutions Are Beneficial for All Stakeholders in Healthcare
Lots of people fall sick, go to a doctor, get medication and get better. But the complete recovery depends upon the patient’s adherence to the course of medication. It is no secret that a lot of people forget to take their pills on time, or just neglect it. This not only demonstrates a lack of seriousness about one’s own health, but also a lack of knowledge to some extent. Numerous...
Benefits of a Health App for Patients & Medical Professionals
Benefits of a Health App for Patients & Medical Professionals
Hospital apps have many advantages for patients as well as medical professionals. A digitized platform streamlines many activities in the everyday workflow, thereby reducing the burden for medical staff. Things that previously needed manual, repetitive procedures with pen and paper can be accomplished with a few clicks using a hospital app. Pulling up electronic health records, managing appointment schedules,...
