Healthcare Digital Transformations Stymied by Data Silos
As with other sectors, the healthcare sector is seeing a marked shift towards digitalisation, as it seeks to enhance patient care, operational efficiency and also reduce the administrative burden of staff.
One company helping healthcare providers on this front is EdgeVerve, an India-based company specialising in digital platforms.
EdgeVerve CEO Sateesh Seetharamiah says that healthcare is being driven towards digitalisation by a cocktail of market pressures and business needs.
Healthcare providers are, he says, not only having to navigating through economic headwinds and supply chain issues, all while having to contend with outdated technologies, the emergence of new competitors and staffing shortages.
On the clinical front, meanwhile, societal changes are bringing pressures to bear also, with ageing populations bringing an increase in chronic illnesses.
But implementing colossal change programmes like digital transformations is notoriously tricky.
“A significant number of healthcare organisations find themselves in a limbo of digital evolution and connectivity,” says Sateesh. “Despite the considerable investments in digital transformation, achieving tangible success remains a complex goal for many.”
Disjointed healthcare solutions 'causing data silos'
Sateesh says that disjointed solutions are resulting in data silos, which obstruct the path to successful digital transformation.
“Consequently, the anticipated benefits of digital initiatives remain largely untapped,” he says. “Presently, a majority of healthcare decision-makers lack confidence in their digital transformation strategies to yield the expected business results.”
He adds that despite the high costs involved, almost half of healthcare leaders report no positive return on investment from their transformation efforts.
“A significant portion of the funds allocated for digital-experience enhancements fail to produce measurable business benefits,” he says, adding that the repercussions of ineffective digital initiatives extend beyond financial losses.
“They hinder the full utilisation of data and partnerships,” Sateesh points out. “They create gaps in patient-care narratives and undermine trust.”
He stresses that this can lead to “severe” issues, such as diagnostic errors and data inconsistencies, and that this “impacts patient experiences and reduces clinical productivity”.
For healthcare institutions to overcome these challenges, they have to eliminate the thorny problem of data silos.
Silos 'a significant barrier to digital progress'
“Silos pose a significant barrier to digital progress,” says Sateesh. “Healthcare organisations are keen on closing the gaps between data, individuals, processes, and the broader enterprise and silos are the biggest barrier to achieving this.”
Sateesh advises healthcare leaders that they can overcome the problem of silos by concentrating on enhancing connectivity, “in order to align IT and business goals for a patient-focused technology strategy”.
He also advises them to:
Break down existing barriers and inefficiencies with comprehensive, adaptable and scalable digital solutions
Elevating the role of AI and automation to boost human capabilities and enrich patient interactions through scalable self-service options.
Adopt emerging technologies with “clear, impactful use cases”, to ensure technology investments drive business success
Refining partner ecosystems with strategic platforms that enhance transparency and accountability, to encourage innovation and operational efficiency.
“Adopting a platform-oriented strategy can facilitate seamless integration across systems, data, and processes,” he says. “Such an approach, marked by a strong emphasis on AI and automation, empowers organisations to maximise their digital potential through effective partnership ecosystems.”
Sateesh adds that adopting a platform-centric approach is vital if healthcare companies are to drive growth and innovation in the digital healthcare landscape.
He says: “Traditional healthcare models often suffer from compartmentalisation, which restricts the flow of data and technology. This isolation hampers decision-making and limits opportunities for growth and agility.
“Recognising these limitations healthcare organisations are increasingly striving to establish a more integrated ecosystem, enhancing internal and external connections.”
He adds: “This holistic approach aims to improve connectivity across the organisation, streamline operations, maximise partnership value, and increase transparency.”
Sateesh says that among the benefits for organisations that successfully implement digital strategies include standardised and automated business processes.
Leaders want better healthcare records management
According to Forrester research commissioned by EdgeVerve, 68% of leaders want better responsiveness to consumer needs and more efficient management of health records.
“From our perspective, the implementation of digital technologies in healthcare has been proven to unlock significant efficiencies, amplify human capacity, and leverage the strengths of a connected ecosystem,” says Sateesh.”
“One leading US health insurance provider addressed a backlog of 70,000 records,” Sateesh says. “They also improved claim processing times through automation, effectively reducing errors and handling a higher volume of customer inquiries.”
He also cites the example of a major healthcare manufacturer that streamlined around 100 finance and accounting operations worldwide, saving over a million hours of labour.
A further success story, he says, is the Fortune 500 healthcare firm that enhanced customer satisfaction, productivity, and accuracy, cutting down claim resolution times by 60%.
“It is clear that to drive growth and innovation in the digital healthcare landscape, companies must adopt a platform-centric approach, creating an interconnected system prepared for a digital resurgence,” Sateesh concludes.
To read the full story in the magazine click HERE
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