Maximizing ROI: Effective Strategies for Implementing Innovative Healthcare Solutions
The state of the economy is fueling healthcare’s tech investment, and Vyne Medical’s Trace platform is leading the charge with customized integrations for seamless data exchange, aimed at maximizing ROI.
Economic challenges spur increased technology investment in healthcare
In recent years, economic challenges have affected nearly every industry, including healthcare, and in 2024, these financial pressures are forcing health systems to increase their investment in technology, hoping they can achieve a quick return on investment (ROI) and fast results, often within just 6 months.
AI investments lead the way in cutting administrative time for staff
With 72% of healthcare workers stating, “they would be very or extremely interested in technology that cuts down on the time of administrative work,” it’s no surprise that the prime areas for investment in healthcare include AI-powered solutions that “encompass key business functions for clinical and administrative staff.” Adopting advanced technologies that harness intelligent automation and machine learning can reduce healthcare’s mundane, manual front-end tasks, relieve the administrative burden, and help health systems gain the quick ROI they need by:
- Streamlining tasks
- Improving the accuracy of patient data
- Elevating patient and staff satisfaction
“[AI companies] come in and say, ‘Look at this great feature—wouldn’t you love it?’ And we say, ‘Wonderful. What’s the clinical value? What’s the business value? How does it integrate into our EMR?’ And they don’t have great answers,” explained Michael Kalishman, Chief Venture Officer at Sentara Health.
Empowering healthcare data exchange with customized integrations
The good news for healthcare is there are solutions available that provide seamless integration with a hospital’s existing systems, including the EMR, leveraging machine learning to manage patient data and streamline operations enterprise-wide. Serving 800+ hospitals and health systems nationwide, the Trace® platform from Vyne Medical is a leading healthcare workflow tool, using a paperless process to provide a suite of products that harnesses automation to capture, manage, exchange, and store, disparate data from virtually any source.
“There needs to be more of a technology infrastructure in place to adopt a lot of these AI technologies,” shared Kalishman. “Health systems’ data is messy. We have a lot of disparate IT systems all connected together, some of them more difficult than others to integrate into. We’ve got to figure that out to really take advantage of this AI.”
The Trace platform was built for healthcare and has the technology infrastructure already in place to provide customized integrations that fit a health system’s specific needs. Facilitating the smooth, automatic exchange of healthcare data, Trace’s integration solutions create communication between two or more diverse software systems, both mono-directionally and bidirectionally, automating manual workflow tasks such as:
- Document type recognition
- Data extraction
- Indexing
- Routing
- Notifications
Maximize ROI with Vyne MedicalⓇ’s workflow solutions
94% of digital health investors revealed that ROI is “important” or “very important” to success, highlighting how an investment in solutions like Vyne Medical’s Trace platform can provide the innovative technology health systems need to achieve both swift and long-term ROI.
See firsthand how our solutions help save time and increase profitability by scheduling a demo today. You can also reach out for a complimentary workflow assessment to gain a:
- Re-engineered workflow diagrams
- Impact analysis
- Estimated ROI
- Project scope
- Clear timeline for implementation
Discover how Vyne Medical can enhance your organization’s ROI at vynemedical.com.
Explore Further
Want to dive deeper? Read more on the topics covered in this blog:
- How a Growth Mindset Can Drive Automation Success in Healthcare
- How to Maintain a Thriving Healthcare System Despite Inflating Costs
- Defend Your Revenue: Strategies for Success in 2024
Sources:
Adams, Katie. “These 3 Changes Must Occur for Hospitals to See Greater Roi from Their AI Investments.” MedCity News, 5 Mar. 2024, medcitynews.com/2024/03/hospital-ai-healthcare-investment/.
G2. “2023 Buyer Behavior Report: Research G2.” 2023 Buyer Behavior Report | Research G2, research.g2.com/2023-buyer-behavior-report#form.
“Survey: Digital Health Investments Will Rely on Roi and Clinical Validation in 2023.” MobiHealthNews, 2 Mar. 2023, www.mobihealthnews.com/news/survey-digital-health-investments-will-rely-roi-and-clinical-validation-2023.