Unprecedented healthcare labor shortages and escalating costs leave clinical data analysis and other non-clinical functions at risk of being eliminated or outsourced.
Doing so is a gamble on long-term outcomes as these essential information technology and data specialist roles provide visibility into an organization’s quality performance, financial priorities, and a program’s return on investment (ROI).
According to Gartner’s research findings, growth, technology, and workforce are chief executives’ top strategic business priorities and the main factors driving hospital affordability challenges.
Health systems are searching for a way forward. Immediate remedies are necessary to alleviate the ongoing labor crisis and tackle the projected increase in healthcare expenditures, which are estimated to reach $370 billion by 2027.
A more sustainable employment solution known as Tech-Enabled Managed Services Data and Analytics (TEMS D&A), also known as IT managed services, has emerged to tackle this challenge.
Rapid technological changes. The rise of augmented intelligence (AI) and sophisticated data analytics makes it challenging to keep up with the latest automation trends and technologies, which could lead to security, compliance, and performance shortfalls.
Increased demand for services. Mounting pressures on essential IT functions can strain resources and make it difficult to provide timely and efficient services, such as clinical data analysis for programs that support quality improvement initiatives.
Security threats. IT departments must continuously monitor systems and data for potential security breaches. Surveillance and prevention are complex and challenging tasks as cyberattacks become more sophisticated and bear costly implications.
Compliance requirements. Managing IT services in hospitals and health systems requires adherence to complex and evolving regulatory compliance standards. Indeed, maintaining staff with the expertise to ensure compliance is mission-critical.
Layoffs and workforce reductions are highly effective at reducing immediate expenses but can lead to unfavorable outcomes, including:
Job changes aimed at improving efficiency primarily focus on eliminating wasteful processes while attempting to minimize labor reductions but potentially compromise quality. However, organizations may encounter challenges in this approach, such as:
Traditional outsourcing reduces short-term costs. However, it also comes with drawbacks, such as:
TEMS Data & Abstraction (TEMS D&A), a framework of IT managed services, has been shown to effectively reduce labor expenditures in the first five years of implementation.
One of the key advantages of the TEMS D&A approach is giving healthcare professionals real-time data and analytics that can support and enhance their decision-making processes. Also, by retaining team members with technological expertise to address quality issues, health systems can attain financial stability in the short and long term without resorting to job cuts.
With TEMS D&A, clinicians and non-clinical staff can also operate at the top of their licensure, all while allowing the health system to preserve jobs and avoid layoffs. This combination of factors leads to more efficient operations, improved patient care, increased employee morale, and better resource management.
TEMS D&A boasts an enterprise-wide data platform integrating advanced analytics applications for accelerated technology performance and insights.
By harnessing these data-driven insights, health systems can identify areas of improvement, implement targeted strategies, and make better decisions about resources, clinical staffing, revenue cycle management, and future growth plans.
“The robust data in our analytics platform enabled us to use propensity score matching to create appropriate cohorts and evaluate the effectiveness of our care management programs. Leaders now have greater insight into the ROI and can make informed resource allocation decisions to improve patient outcomes and organizational performance.”– Adam Geller, Analytics Developer, Baylor Scott & White Quality Alliance
Several leading healthcare provider organizations have started implementing the outsourcing engagement model and have seen promising results.
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