Medical institutions are under constant pressure to improve patient outcomes and reduce costs. As a result, they are turning to technology companies that can provide solutions that make use of artificial intelligence (AI) and machine learning (ML).
There are a number of healthcare technology companies that offer solutions for reducing churn. Churn is the term used to describe when patients leave one medical institution for another. Reducing churn is important for medical institutions because it can help improve patient outcomes and reduce costs.
Some of the top healthcare technology companies that offer solutions for reducing churn include:
– GE Healthcare
– Philips Healthcare
– McKesson Corporation
– Cerner Corporation
– athenahealth, Inc.
These companies offer a variety of solutions that use AI and ML to help reduce churn. As seen in the graph below, the healthcare market has constantly been growing over the years. Therefore, more and more healthcare technology companies are looking to capitalize on the growing market. This article will discuss the healthcare technology companies that have established themselves as front runners in the healthcare industry due to their ability to transform the industry and reduce churn for medical institutions.
GE Healthcare
GE Healthcare is a diversified healthcare company that offers a variety of solutions for medical institutions. One of their key offerings is their Edison platform, which is an AI-powered platform that helps reduce churn. The platform uses data from multiple sources to identify patterns and trends that can help predict when patients are likely to leave a medical institution. This information can then be used to take action to prevent patients from leaving.
Companies like GE Healthcare are able to reduce churn for medical institutions because they have a deep understanding of the industry. They are also able to use their data and technology to help medical institutions improve their operations. Additionally, GE Healthcare has a strong relationship with the medical community, which gives them a better understanding of the needs of medical institutions.
Philips Healthcare
Philips Healthcare is another diversified healthcare company that offers a variety of solutions for medical institutions. One of their key offerings is their IntelliSpace platform, which is an “advanced visualization platform that offers a single integrated solution to help you work quickly and efficiently with increased diagnostic confidence–especially during reading and follow-up of multi-faceted cases.” The platform uses data from multiple sources to identify patterns and trends that can help predict when patients are likely to leave a medical institution. This information can then be used to take action to prevent patients from leaving.
Companies that use Philips Healthcare’s IntelliSpace platform include Mayo Clinic and Cleveland Clinic. These companies have been able to reduce their churn rates by using the platform to identify when patients are likely to leave. Additionally, they have also been able to use the platform to improve their operations. For example, Cleveland Clinic has used the platform to improve patient scheduling by analyzing data to predict when patients are likely to cancel their appointments.
McKesson Corporation
McKesson Corporation is a healthcare services and information technology company that offers a variety of solutions for medical institutions. One of their key offerings is their Connected Care platform, which improves communication between administrators, doctors, and patients of healthcare institutions. The platform is revolutionary in terms of improving patient care and has been instrumental to the success of medical institutions, including MC HealthCare and Children’s Hospital of Philadelphia. Therefore, it is easier for these institutions to take action to prevent patients from leaving
The Connected Care platform has been shown to improve patient outcomes. In one study, the platform was able to reduce hospital readmissions by 20%. Additionally, the platform has also been shown to improve communication between administrators and doctors. This improved communication can lead to a better understanding of the needs of medical institutions and allow for more tailor-made solutions.
Cerner Corporation
Cerner Corporation is a healthcare technology company that offers a variety of solutions for medical institutions. One of their key offerings is their HealtheIntent platform, which is “a cloud-based, programmable population health management platform that is vendor-agnostic, which means it can receive data from any EHR, existing HIT system and other data sources, such as pharmacy benefits managers or insurance claims.”
The HealtheIntent platform is able to reduce churn for medical institutions by helping them understand the needs of their patients. Additionally, the platform can also help medical institutions improve their operations. For example, Cerner Corporation has helped a number of medical institutions improve their patient scheduling. Some of the notable institutions that have used Cerner Corporation’s HealtheIntent platform include Intermountain Healthcare, Mayo Clinic, and Cedars-Sinai. These institutions have all been able to reduce their churn rates by using the platform to understand the needs of their patients.
athenahealth, Inc.t
athenahealth, Inc. is a healthcare technology company that offers a variety of solutions for medical institutions. One of their key offerings is their athenaOne platform, which “organizes the moment of care, performs administrative and quality services to ensure full payment, and tracks all physician orders so doctors can focus on what they do best.” The athenaOne platform has been instrumental in helping medical institutions reduce their churn rates.
Like some of the other companies, the athenaOne platform can also help medical institutions improve their operations. For example, the platform can help administrators understand when patients are likely to cancel their appointments. Additionally, the platform can also help administrators understand when patients are likely to no-show for their appointments. This information can be used to improve patient scheduling and reduce the overall churn rate for medical institutions.
Conclusion
There are a number of healthcare technology companies that offer solutions to reduce churn for medical institutions. These companies have been able to help medical institutions improve their operations and reduce their churn rates. Some of the notable companies include McKesson Corporation, Cerner Corporation, and athenahealth, Inc.
Each company has its own unique solution that can be used to help medical institutions reduce their churn rates. However, all of these solutions share one common goal: to help medical institutions improve their operations and reduce their churn rates.
In the future, AI and ML solutions are expected to be applied to other aspects of healthcare. As seen in the graph below, AI is already being used to scan for different types of cancers and diseases and shows no sign of slowing down. The more effective scanning of cancers and diseases combined with effective patient management will prove lucrative to healthcare institutions, as they will improve customer retention and reduce churn.
References
Globaldata (graphic 1)
EPT (graphic 2)