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Health Care Finance Tools – Value-Based Need

Health Care Finance Tools – Value-Based Need

Visualization, Artificial Intelligence, and BlockChain are the three main features to which the healthcare CIOs need to pay heed. Visualization is advancing with the development in the IT sector. The concentration of the health care industry is in setting up a reliable data management system, which would support the value-based care and reduce the complexity of administration and resolve the refereeing in the health care claim process. Financial management technology must also reflect on risk management at every step. The Health Care System can earn outcome-based bonus payments provided the financial tools have robust for resource collection. 

Blockchain is beneficial when there are many factors in the system, it also enables data fluidity. Blockchains also, profess in enhanced security and data integrity, which is a must so that the set up can have control over who can access data and who can’t. Blockchain brings together the collaborators. All the data can be pulled together in a particular application. The collaborators can join the chain or run their chain that tracks and monitors all the activities and reports of patients in health care.

The payer-provider relationship influenced by risk-based reimbursement. Instead of a laborious administrative process blockchain allows payers to pay through the application. Adding AI to BlockChain will take the financial tools to another level. A person whose verified data updated in the BlockChain can be accessed through the AI, that will diagnose and prescribe the measures, a delay or gap in the health care protocol can be identified much easily. AI with IoT also helps to reduce supply chain errors in the Pharmaceutical Industry and plan better clinical trials. 

Through blockchain, one can also plan for precision medicine and population health management. Blockchain enables the optimization of the current workflow, also holds the potential to save millions of dollars. Established companies are readily acquiring AI capabilities into their solution suites. The friction in the health care industry is in the transactional process and, blockchain is now capable of nullifying the same. Creating sustainable business models and changing the traditional mindset is the main focus of BlockChain. Blockchain and AI together enable real-time data collection. An end to end IT platform for financial management is the current need to succeed in value-based reimbursement, also accompanied by patient engagement and service providing. 

“It’s time to move from reactive sick-care to proactive healthcare by default” – KoenKas.

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