The Advantages of Automation and Automation Possibilities in 2023
How is artificial intelligence (AI) impacting the workforce and productivity in North America?
A 2017 study found that 14.5% of the current North American GDP or $3.7 trillion was affected by automation and Artificial Intelligence (AI), and it projected that by 2030, the percentage would increase to 26.1% or $10.7 trillion. In 2019, the potential savings from automation was reported to range from $220 – $360 billion, anticipating that 375 million people or 14% of the global workforce will have to change the way they work due to automation’s influence.
What does automation mean for healthcare?
Set to be a game changer in the industry, automation will have a major impact on a healthcare system’s clinical care, operational supportive care, and revenue cycle. To ensure these innovative models are maximizing efficiency and productivity, healthcare systems are tasked with being a part of the integration process.
Leaders need to upskill their workforce to keep up with the inevitable technology, which indicates a major change in the education level of individual workers. It is projected that the knowledge and skills that current, new physicians have learned and brought into the industry, will only be valid by 6% in ten years due to the impact of automation.
Is automation really new?
In 2021, 80% of hospitals and healthcare systems reported using some sort of automation, but automation has actually been around since the 1950s when the government used computers to synthesize data, and in the 1990s, when macros were used to automate repetitive tasks. To ensure the automation worked well, a great deal of time was spent understanding workflows. Now, the automation tools have evolved and bots are used instead of macros, and bots bring with them the ability to work 24 hours a day. Since traditional employees must go to sleep, go home, and have a limited time in which they can work, tasks requiring critical thinking should be saved for them, while the bot will provide the expected outcome you designed for it.
How to use automation to achieve desired results?
Bad processes will yield bad results. The importance of taking the time to create good processes in order to achieve the desired outcomes and efficiencies should not be underestimated by healthcare systems. Repetitive processing automation (PA) involves using automation for front end processes–processes that simply involve pulling information from one Application Programming Interface (API) into the main system and then into another API. The ability to quickly and accurately process this data increased efficiencies by 91% and revenue in healthcare systems that implemented the automation.
The importance of common language
A recent study revealed that most people believe in the power of automation, but 48% don’t know the different terms and language associated with the process:
- Robotic Process Automation (RPA): A bot is given a predictive task and is able to process things–at an increased speed–without a human performing the task (usually the first step in the process). The task does need to be monitored since bots can break.
- Artificial Intelligence (AI): Learning from data and making decisions based on information that is processed. Can be unsupervised (when you let the machine make decisions) or supervised (when you monitor the data and the outcomes)
- Reinforcement State: Some decisions are made by the machine, but the machine’s knowledge of reaction is increasing. Providing breadth and depth of much more than just a predictable task, the machine is learning to react to outcomes.
Where can automation be most helpful?
According to Nio Queiro, President and CEO of The Queiro Group and former SVP of Revenue Cycle for Tufts Medical Center, “If you’re not using automation in your front end, you’re missing out.” Getting automation right in the front end by having it manage scheduling, payments, and even pre-registration builds a digital front door that makes the back transactional.
To move from RPA to hyper automation, agility is a necessity. Data will not only communicate what is going on and the norms, but also who does it best when the data is understood.
When a healthcare system exhibits an agility of understanding and an awareness of getting to the point of efficiency, then accuracy is inevitable. An understanding of the degree of automations helps structure a continuously learning and expanding system.
Finding money in the budget for automation
With many healthcare systems struggling financially, locating the funds to pursue automation may seem impossible. Getting creative when identifying the funds can help. For example, many hospitals and healthcare systems are struggling to fill open positions. Relocating the funds allocated for open positions can help cover the cost.
The importance of choosing the right vendor
When dealing with automation, not all vendors are the same. With some specializing in conversation AI and others excelling with machine learning and streamlining processes, it is important to understand each vendor’s talent and match that to your organization’s needs.
A choice vendor will not try to rush an implementation process and should seek a solid partnership with your organization. A visioning session and working together to identify problems and how to address them is crucial.
Once a partnership is established, a focus on embracing the changes is vital. As you begin co-creating with your vendors, you introduce newness that can transform the healthcare system’s ecosystem and revenue cycle.
Considering a move to automation or AI? We can help. Connect today to learn more about Vyne Medical’s solutions that capture, automate, manage, and exchange interactions for healthcare and hospital systems like yours.