Artificial intelligence changing the healthcare cost landscape
With the ever changes in healthcare reform, healthcare systems are looking for ways to shift costs through the concentric circles of acute, to Continuum of Care, and to Hospice/Home Health care and service. The cost shifting is just the tip of the iceberg as healthcare systems look for improve margins and focus on top-down cost savings.
The health system corporate executives are focused on the entire landscape of where to trim costs from supply chain (generic vs. brand name medicine/prescription), consolidation of services and facilities down to nursing staff.
The lower skilled staffs typically are first to feel the impact given their salaries to mimic the function of the admin or the lower paid nursing staff. Given the salaries of the admin is the low hanging fruit, can augmented artificial intelligence replace the admin or the entry level nurse? Short answer is Yes! Take a look at ViV as an example, they technology exists where the basic function of taking patient information can translate into any EMR/ADT system where the SW does the bulk of the work and the hospital system can reduce staffing and improve company IFO in the long run. Now multiply this across an Acute, and CoC hospital system… there is power in the savings.