Automation is Software-Domainated

•  Automation can handle referrals, bookings, laboratory, radiology and pathology results, or create request forms.
• In addition, reporting, quality assurance, HR, finance, and IT processes are widely targeted for automation.
• As in the example of the Jackson Memorial Hospital / Philips Enterprise monitoring agreement, workflows and administrative monitoring are also being automated.

Drivers for Automation-as-a-Service

• Recondo Technology proposed "a self-service online price estimator, embedded on the University Health website, that anyone could use" to University Health Care Systems in order to provide price-transparency to prospective patients.
• According to the 2017 CAQH Index, the lack of automation for business transactions costs the healthcare industry more than $11 billion every year even though 70% of hospitals have adopted revenue cycle management (RCM) technology.
• The healthcare industry could save $15.5 billion each year if companies processed claims correctly the first time.
• Labor costs typically eat up more than half of a hospital’s operating revenue, and that costly challenge is poised to increase as organizations face continued pressure to raise salaries and wages.
• The Institute of Medicine estimates that between 44,000–98,000 patients die each year due to general preventable errors.
• A heat map of the potential for automation across different healthcare roles can be found here.

Examples

• Recondo is a SaaS company which can embed its AI-driven authorization system, RevSmart, directly within a hospital's native Epic system to realize millions in cash flow improvements. One of their first clients was Bon Secours Mercy Health.
• Istekki Oy and the health technology company NewIcon Oy have drawn up a framework agreement for six years concerning eMED ICON smart medicine cabinets, which will speed up the automation of pharmaceutical services in hospitals and health centers.