Simply put, one of the biggest and most bothersome issues faced by providers and payers in the healthcare industry is the onerous procedure of pre-authorization. These pre-authorizations for medication and treatments are time-consuming and costly. Physicians spend an estimated 20 hours per week on pre-authorization activities that cost around $83,000 in annual overheads per physician. …
Technology has become an immense part of our daily lives, with an overwhelming moderation of reliability and efficiency. Our dependency on technology, over the past years, has completely shifted from want to a necessity. Seamless, smart-to-use and customized online experiences have revolutionized the ways of our electronic interactions and approach. Following the requirement, in late …
Suits are quite common in the profession of healthcare as well. Whether it be angered employees or dissatisfied customers, hospitals are always at a risk of a suit. However, there are ways to minimize this risk. Here are few things you can do: Employee handbook should be well-written Take time when writing the employee handbook. …
Data breach is a serious offense when it comes to patient-related information. After all, health-related information of patients is sensitive and can do a lot of harm if it ends up in the wrong hands. For instance, pharma companies can use the insight to tug at strings that are best known to be effective in …
Opioids are used all over the world to relieve pain. They range from oxycodone and hydrocodone, which are mild or moderate in concentration, to the highly-concentrated fentanyl. When taken, they induce drowsiness, sedating the person to get their bodies to rest. However, opioids also induce psychoactive tendencies in the person, which has led to their …
Medical malpractice occurs when a medical practitioner causes harm to a patient in their care due to negligence, which can result in serious health repercussions for the patient. Apart from negligence, malpractice can also be attributed to incorrect diagnoses, treatment and aftercare as well as general health management of the patient. The cost for a …
With the rise of technological developments, the patient experience has transformed. Now, it is possible to pay medical bills online and receive medical updates and appointment confirmations via email and text among other features. All in all, this indicates that patient engagement with their doctors and treatment processes in general are at an all-time high. …
The healthcare industry is now coming to terms with the role played by its ‘middlemen.’ This term refers to insurance companies and pharmacy benefit managers or PBMs. At first, these intermediaries were responsible for contacting pharmaceutical manufacturers, collecting medicines and distributing them to hospitals and pharmacies. But now, they have used the advantage of being …
The general rhetoric that surrounds mega-mergers of hospitals and related services is that it will bring many benefits to the patients who utilize these services. The benefits include lower costs for procedures, tests and medication, a significant improvement in customer service, usage of more technologically advanced methods and equipment for treatment, and an overall efficiency. …
From 2018 onwards, the approach to tackle issues within the healthcare industry has become more complex. Up until 2017, all health reform goals were repealed, but this has since changed. Experts at the PricewaterhouseCoopers’ (PwC) Health Research Institute foresee indecisiveness as well as possible risks that are coming for the healthcare industry in 2018. With …