3 Technologies in Favor of Value-Based Healthcare System

Medical billing services and clinicians have joined hands to strive for a progressive healthcare industry altogether.

As the focus on value-based care services has risen, there is no place for hiding for immature and quacks. The research in the healthcare sector is paving undiscovered paths for physicians and medical billing companies, which leads to better patients engagement, coordinated care services, and optimized treatment methods.

Some of these technologies are already in the market, and some are going to be available at the end of the year.

1. Blockchain Technology in Healthcare

This technology serves as a modern data collection and transfer system where blocks of data are connected and secured by cryptography. It was devised for digital currency (bitcoin), however, research shows it has a great potential to transfer data across healthcare organizations without any limitation that Electronic Medical Records (EMRs) have.

Its decentralized mechanism is compatible with every system and thus makes access to information easier and reliable than before. According to Forbes, blockchain applications will be showcased for commercial use at the end of this year.

Medical billing services will find this technology useful to minimize errors in data transmission.

2. Telemedicine

Telemedicine may be a familiar term for many of you. You even might have seen a practical demonstration of this technology anywhere. Whatever the case may be, this technology reduces the gap between remote patients and clinicians via electronic means.  It also affects the way information is submitted to a physician. The optimized and smart interaction surely brings a breakthrough in regular patient-physician interaction and consequently in medical billing services procedures.

It Has Become a Necessity Post-Pandemic

We would even dare to say that telehealth has now officially become a part of clinicians’ care delivery. Amidst the peak pandemic period, when elective medical treatments were paused for a long time and healthcare specialists like physiatrists were facing a financial crisis, telehealth services were a ray of sunshine. Alongside the heavy COVID-positive patients, we could see clinicians handling their regular patients, all thanks to this technology. Now, it has become the norm. Clinicians, patients, medical billing services, everybody know about it.

We could see IT innovations happening in this sector. New codes are emerging to document the procedures. CMS considers it as an activity for Promoting Interoperability (PI) measure for QPP MIPS. It is an easy technique that helps meeting the healthcare requirements with digitalization and technology innovation. If you haven’t implemented it already, you will have to adopt it sooner.

3. Artificial Intelligence

Since 2018, we have been listening about the implication of artificial intelligence (AI), and indeed, it is the future of every field.  Speaking generally, artificial intelligence will revolutionize the monitoring of human activity. Reaching far-away areas where there are limited or no resources will be possible with artificial intelligence. Who knows AI modernizes diagnostic procedures so much that the need to take out blood and tissue samples vanishes.

Even Forbes says that work productivity in healthcare systems can be increased by 10-15% within the next two to three years with AI.

In general, when we look upon healthcare technologies, one thing comes forward. They all strive to improve data transmission and patients’ engagement levels. The factors like interoperability and the burden of shifting to a new system are challenging, but in order to get the best healthcare outcomes, physicians and medical billing service providers need to adopt new methods and implement value-based healthcare strategies.