Why Adapting to A.I. is a Must for Every Clinic.
AI is changing healthcare. Clinics must adapt or become irrelevant as new AI tools automate work and disrupt current systems.
The world is rapidly changing with the advent of artificial intelligence (AI), and healthcare is no exception. As a clinic owner or doctor, it's crucial to understand how these changes will impact your practice and what you can do to stay ahead of the curve.
One of the biggest changes in healthcare is the shift towards remote patient care. The COVID-19 pandemic accelerated this trend, resulting in a 63x increase in telemedicine since 2020. According to McKinsey, 71% of all in-person clinical visits can now be done remotely. This change presents a massive opportunity for clinics who adapt first, as it allows for more personalized care and greater flexibility for both patients and providers.
Patients are seeking a more personalized approach to their care and want three things above all else: more time with caregivers who listen, a feeling that their provider cares personally about their outcome, and more information about their condition, treatment, care, and options. A Deloitte study found that 89% of all patient interactions are redundant and could be automated. By automating these interactions, clinics can focus more on providing personalized care and building stronger patient relationships.
Clinics that fail to adapt to these changes will struggle to retain patients and remain financially healthy. According to McKinsey, less than 30% of primary care clinics are currently financially healthy. Additionally, 57% of doctors work 70+ hours a week, but 73% of that time is spent not providing care. The current healthcare model is unsustainable, and those who don't adapt will quickly become irrelevant.
However, there is a massive opportunity for clinics who embrace these changes to grow their practice and their revenue. Clinics that have strong patient relationships retain an average of 89% of patients, compared to just 33% for clinics with weak engagement. According to a study by Accenture, 81% of existing patients are open to switching providers at any time. By adapting to the new world of healthcare, clinics can retain more patients and grow their revenue.
So what does this new world of healthcare look like? It's a world where patient outcomes are improved, patient engagement is increased, and automation scales the clinic and providers. It's a world of scalable, high-touch care pathways that improve outcomes and that patients love. It's a world of recurring revenue business models that allow for low-cost, scalable precision healthcare for everyone.
To achieve this vision, clinics need a platform that can automate their existing processes and create new care pathways. They need unlimited, free telemedicine with advanced features, automated care pathways to improve patient outcomes, an easy-to-use patient portal and communication system, e-signatures for agreements and consent capture, HIPAA compliance, patient enrollment tools, triggers and actions for automated notifications and routing, mobile accessibility, military-grade security, integrated payments for recurring-revenue subscriptions, advanced analytics, a library of clinically proven tools, and behavioral A.I., all with blazingly fast workflows. These capabilities need to be integrated into a single platform to be successful in the future.
Fortunately, there are already AI tools available that can provide all of these capabilities. These tools have already been proven and are trusted by researchers and clinicians at Huntsman Mental Health Institute, University of Utah, Moffitt Cancer Institute, Rubicon AI, DepoIQ, Arizona State University, and others. With these tools, clinics have seen a 4x increase in team productivity, a 260% increase in patient interactions without additional provider burden, an 82% automation of patient triage and follow-up, a 17% increase in total revenue, and a 4.9-star patient rating.
The world of healthcare is changing rapidly, and clinics that fail to adapt will become irrelevant. However, there is a massive opportunity for clinics who embrace these changes.
References:
McKinsey. "Telehealth: A quarter-trillion-dollar post-Covid-19 reality?" (2020) https://www.mckinsey.com/industries/healthcare-systems-and-services/our-insights/telehealth-a-quarter-trillion-dollar-post-covid-19-reality
Deloitte. "The future unmasked: Predicting the likely impact of Covid-19 on healthcare in 2023." (2020) https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/life-sciences-health-care/deloitte-uk-healthcare-white-paper.pdf
Alzheimer's Association. "Facts and Figures Report." (2021) https://www.alz.org/media/Documents/alzheimers-facts-and-figures.pdf
AMA. "Professional Satisfaction and the Career Plans of US Physicians." (2019) https://www.ama-assn.org/system/files/2019-09/2019-physician-burnout-survey.pdf
NEJM Catalyst. "Patient Engagement Survey." (2018) https://catalyst.nejm.org/wp-content/uploads/NEJM-Catalyst-Patient-Engagement-Survey-Excerpt.pdf
Bain & Company. "What Patients Want From Healthcare." (2018) https://www.bain.com/insights/what-patients-want-from-healthcare/
Accenture. "Patient Engagement Strategies: What Works and Why." (2018) https://www.accenture.com/us-en/insights/health/patient-engagement-strategies
World Economic Forum. "Fourth Industrial Revolution for Health." (2018) https://www.weforum.org/whitepapers/fourth-industrial-revolution-for-health
