Digitization and Automation Drive Healthcare Efficiencies

By NE Docs | May 27, 2022

 

In today’s highly competitive healthcare environment, organizational efficiency is critical. Forrester Research noted that “81% of executives surveyed agreed that operational efficiencies are a priority to improve profitability.” The industry-wide issues include reducing costs, increasing visibility, and pursuing better vendor management. The keys to achieving these business-critical objectives reside in two areas; Accounts Payable and document management. You must automate your Accounts Payable (AP) processes and fully digitize your document management systems to remain competitive.

Why Fully Digitize and Automate?

While most healthcare professionals are busy dealing with the front-end issues of dealing with patients and insurance, AP processing is at the backend (the internal functions and technical operations) of the business. Accounts Payable is defined as the process “by which organizations pay for goods and services, from the receipt of the goods to the processing and payment of the vendor invoice. In an effort to reduce costs and optimize efficiency, leading organizations are implementing AP Automation software and streamlining their back office functions,” notes Blue Creek Software.

Forrester Research predicts that customer (patient) centricity, analytics, and optimization will be key for healthcare providers to distinguish themselves from competitors and mitigate the risk of reduced growth, or even worse, contraction of revenues.

Typically, healthcare has not led other industries in utilizing dedicated software systems to manage procurement and AP data. Instead, many organizations still use legacy processes that:

  • Inefficiently track spending
  • Impede timely analytics of staff productivity
  • Lack transparency into all financial areas of the business, and
  • Fail to manage vendor relations effectively.

The inefficiencies of older established processes were greatly exposed during the COVID outbreak and response to the pandemic. Healthcare organizations that continue to use and manage paper documents will face all sorts of bottlenecks to store, access, and process patient and vendor information in a timely fashion in an otherwise digital world demanding information now.

The same is true of manual digital file management using common office tools. Information bottlenecks slow down service delivery and therefore can impede revenue generation.

Structural Efficiency

Both AP Automation and digital document management present structured solutions that your financial and HR personnel can easily use to manage spending, improve staff productivity, and cultivate better vendor relations by removing many of the manual operations that result in roadblocks or delays.

If you are a healthcare administrator for a hospital, senior living, or other care facility and your objectives are to create operational efficiencies and scalability that supports your business needs, AP Automation and digital document management offer valuable benefits you should consider.

Here are a few examples where automation and digitization have helped healthcare organizations:

  • Slow processes affect patient care – Wray Hospital and Clinic increased productivity with instant access to their files while also enhancing compliance with federal regulations and saving money.
  • Paper documents require a lot of space – Rockland Eye recovered space for a new examination room by digitizing paper charts to integrate with their EHR system to electronically manage patient records.
  • Paper documents create unnecessary storage costs and tasks – Family Health West implemented a digital document system that saved storage costs and boosted staff productivity.

Experience Matters

Over many years, NEdocs has worked with different sized healthcare organizations throughout the Northeast to implement AP automation and document management solutions that seamlessly integrate with their internal processes.

For further information about how our AP Automation solutions and document management software can help improve your healthcare organization’s productivity and efficiency, ask our experts by calling 603-625-1171 or contact us online.

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