Healthcare

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Healthcare

Healthcare Industry

The Healthcare industry is a vital sector. We are all users of it. The ecosystem is enormous and made up of many different types of entities. Providers, payers, and sciences companies are all part of the landscape. The Healthcare industry is going through considerable change and challenge. The recent global health crisis, technological innovation, governmental policies, plus economic situations all affect Healthcare providers, payers, and innovators. The industry also faces consolidation, evolving business models, and burnout from professionals in the field. Companies in this space are needing to reimagine their approach and processes.  Increasingly they look to automation and technology to do this. External staffing solutions can also play a role and add increased efficiencies. Getting it right is important when it comes to Healthcare, people’s lives depend on it!

Healthcare Industry and Valenta

Health

The largest providers in the Healthcare space and the big payers and innovators have leveraged consulting, automation suppliers, and staffing firms for decades or more. Midsized and regional providers and payers have not always had access to these services. Valenta is here for that and focuses exclusively on midsized organizations with 10-1,000 employees. We help our clients implement advanced technology solutions to drive impactful change. We offer services to digitally transform organizations and automate many routine and repetitive tasks.  We also design secure platforms for AI and ML that can make healthcare more efficient. Data Analysis and Business Intelligence are additional ways in which we assist the Healthcare space. Finally, we are available for many staffing requirements that can be game changers for the Healthcare space.

Top Challenges for the Healthcare Industry

Based on our experience and conversations with clients.

Below are the top challenges faced by todays Healthcare sector.  Valenta can assist with all of these challenges through a combination of Process Consulting, Digital Transformation and Staff Augmentation

Top Challenges in Health care
  • Patient experience
  • Cyber security
  • New technology adaptation
  • Legacy platforms
  • Telehealth
  • Invoice and payment processing
  • Price transparency
  • Data analysis
  • Compliance and regulation
  • Burnout
  • Staffing
  • Automation
  • Cost control

How Valenta Assists the Healthcare Sector?

Collaboration across the healthcare ecosystem is essential in today’s world. Automation can help with collaboration but can be a challenge.  We can digitize and automate workflows and processes.We take a unified approach to healthcare. Our goal is to help organizations improve financial health, improve data flow and process, and achieve operational excellence. We can also help our clients manage evolving regulatory requirements. We treat every engagement as unique but leverage our past experience. 

Valenta can assist the Healthcare Sector in the following ways. 

Process

Process

Healthcare providers, payers and innovators cannot afford to waste time or have inefficiencies in their organizations. Process issues appear frequently in organizations that must address massive amounts of customers or patients. We look for waste in all processes and have staff available for process mapping, task mapping and business optimization. 

Repeatability,execution

Execution

Excellence in execution is essential. Great ideas and goals are only the beginning. Successfully implementing new strategies, projects, and plans is the difference between success and failure. We help our clients flawlessly execute.

innovation

Innovation

Innovation is a key to success for all businesses. Competition, customers, and the business environment are always changing. Innovation is how companies can stay ahead of the competition and be where their customers will be. We help our clients to be nimble and ahead of the curve.

strategy

Strategy

Developing and executing the right growth strategies is critical. Our Healthcare clients benefit from bringing in our expertise for hire. We can provide an actionable strategy for our clients plus detailed plans for how to get desired outcomes and results.

Digital-Transformation

Digital Transformation

There is a growing need for organizations to automate and adapt to new technologies and ways of doing business. Yet having these skill sets in-house can be challenging. Valenta implements solutions such as RPA and Conversational-AI for businesses of all sizes at competitive pricing. Conversational AI in particular can greatly improve patient experience when done right.

Profits

Profits

The bottom line is crucial.  Maintaining profitability and healthy cash flow is something every business must pay close attention to. Valenta can identify opportunities for efficiency gains and can provide ROIs for all client projects. 

Support, staffing

Staffing

If current employees are under-skilled or not able to fulfill the requirements of positions, Valenta’s team of skilled and fully trained individuals can meet them. Valenta can also offload work that does not have to be done by onsite staff leaving them time to be more present with patients. Staff Augmentation can bridge the gap of skills and economics when budgets are squeezed.

Services Valenta Provides for the Healthcare Sector

Consulting, customer serevice

Consulting

An end-to-end solution, from strategy to implementation. Specializing in turning strategies into measurable and sustainable results.

Valenta provides Consulting services that can be of great value to the Healthcare sector. We can assist companies in this space streamline their patient information entry, billing, patient support, accounting, finance and HR processes for peak efficiency and the lowest cost. Savings generated can be devoted to improving services for patients, enhancing medical equipment, or upgrading software platforms. Valenta can also provide Business Intelligence solutions to improve profits as well as patient experiences.

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Digital-Transformation

Digital Transformation

Streamline workflows and improve productivity across business units. Implementing powerful tools to provide businesses with an unparalleled competitive edge.

Valenta Digital Transformation services can streamline back office processes by leveraging RPA and Conversational AI. Conversational AI solutions can be deployed to help staff be more efficient, better informed, and able to provide the highest quality of care to patients. All Valenta services are offered in a flexible managed service model and are easy to scale up and ramp down. All of this can be of great value to the Healthcare Industry and its suppliers.

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Support, staffing

Staff Augmentation

Focus on growing your business, let us take care of the rest and save up to 60% on staffing costs.

The Healthcare sector can also benefit from Valenta Staff Augmentation services. Hard-to-fill technology roles can be staffed to improve operations. Back office roles can be filled quickly and cost-effectively so that the maximum amount of resources can be dedicated to high-value front-line roles like Doctors, Physician Assistants, and Nurses.

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Heat Maps for Healthcare Industry Processes

Many processes lend themselves to automation in the Healthcare sector.  Please find the following Heat Maps highlighting the Healthcare Payer landscape and Human Resources that are often the best places to start with automation and digital transformation in the Healthcare space.

Healthcare Payer and Billing Processes

Human Resources

Automation, RPA, and AI in Healthcare

Healthcare-automation

There has never been a better time to implement Robotic Process Automation (RPA) in healthcare. With the COVID-19 pandemic, the healthcare industry will never be the same again and while this is not the first crisis the world has faced, it is certainly not the last either.

The healthcare sector is required to operate under the most stringent guidelines and with increasing patient needs, this sector is always under immense stress.  While there have been several technological advancements in this space, administrative work is still a huge challenge and maintaining compliance is extremely critical.

RPA in healthcare can be put to very good use across several areas such as admission, diagnosis, treatment, and recovery.  There are several processes under each of these categories in addition to the horizontal functions such as finance and accounting, human resources, IT support, procurement, and administration.

RPA across the healthcare ecosystem adds significant value in terms of time and cost savings and also improves patient experience and satisfaction as healthcare professionals and their teams are able to focus more on patient needs rather than spending time on administrative and compliance-related tasks which can now easily be automated and error-free.

AI Use Cases in the Healthcare and Pharma Industries

How Is AI Reshaping The Healthcare Industry?

Revenue Cycle

  • Patient Billing
  • Insurance Billing
  • Eligibility Change/Rebill
  • Claims Status and Adjudication
  • Denials Management
  • Insurance Payment Audits
  • Payment Postings
  • Cash Application
  • Account Follow-ups
  • Price Transparency and Real – Time Estimates
  • Utilization Review
  • Payment Propensity
  • Charge Audits

Clinical Services

  • Digital Health / Telehealth
  • Check-in (Limited for COVID)
  • Screening/Testing
  • Checkout
  • Test Submission to Labs
  • Lab Results & Data to Patient, CDC, and Medical Records
  • Admissions/Bed Management
  • Hospital Operations
  • Discharge Prioritization/Management
  • Pharmacy Services
  • Clinical Documentation Review
  • Indexing Docs to ICD-10 Codes
  • Radiology/PACS Data Entry
  • Patient Compliance
  • Charge Capture and Coding

HIM

HIM
  • Testing Data Management
  • Infection Control and Reporting
  • Bio-Surveillance and Clinical Reporting
  • Trial Data Management
  • Data Transfer/Migration Between Disparate Systems
  • App/Cloud Observation Entry
  • Clinical Data Analytics for Population Health
  • HEDIS Reporting
  • Support for Longitudinal Personal Health Records (360)
  • Documentation Management
  • Regulatory Audit Management
  • Clinical Data and Analytics
  • Cleaning Patient Data
  • Utilization Management

Patient Access

patient-access
  • Patient Scheduling/Pre-Registration
  • Insurance Validation/Verification
  • Document Intake
  • Registration (Inpatient, Outpatient, Emergency Room)
  • Medical Records
  • Pre-Certifications
  • Authorization Management
  • Financial Planning
  • Referrals Management

Finance and Accounting

Finance and Accounting
  • P2P: Vendor Master, Requisitions, PO Creation and Management, Payment Processing, Reporting, Invoicing
  • R2R: General/Intercompany Accounting, Bank Reconciliations, Fixed Assets, Close, Consolidations
  • Forecasting and Budgeting
  • Collections

IT

IT
  • Server and Application Management
  • Routine Maintenance and Monitoring
  • Batch Processing
  • E-mail Processing and Distribution
  • Password Management
  • Network Drive Access
  • Ticketing System
  • Backup and Restoration

Audit and Compliance

audits
  • Nurse Chare Audits
  • Procedure Audits
  • CPC Coding Review

Migrations

Migrations
  • Future Appointment Flags
  • Real Time Chart Sync
  • EMR/EMR Conversion

Testing

health-testing
  • Nurse Chare Audits
  • Procedure Audits
  • CPC Coding Review

HR

HR
  • Benefits Administration
  • Payroll
  • Time and Attendance Management
  • Onboarding/Offboarding
  • Recruitment
  • Personnel Administration
  • Education and Training

Support Services

support-services
  • Emergency Preparedness
  • Patient Safety
  • Food Services
  • Care Quality
  • Transportation Services
  • Guest Services

Supply Chain

  • Demand and Supply Planning
  • Pharmacy/Medication Supply Chain
  • Medical Equipment Supply Chain
  • Order Management
  • Inventory Management
  • Vendor Management

Customer Center

Consulting, customer serevice
  • Logging into Multiple Systems
  • Data Entry, Extraction, Calculations, and Validations
  • Internet Screen Navigations/Scraping
  • Call Wrap/Post Call Activities
  • Excel Worksheets, Documents, Knowledge Base Lookups/Updates
  • Case Routing/Classification

Data Science

  • UX Data Feed for ML/AI
  • Workflow Actions on Recommendations

Source: UIPath

Process, Not Task Based Solutions

Telehealth

  • Data extraction and readiness
  • Post consult messaging
  • Voice transcription and aggregation

Conversational AI

  • Customer Service/Administration
  • Care Coordination
  • Real time patient records and education

Value based care

  • Patient outcomes
  • Reducing hospital readmissions
  • Use of evidence-based-medicine

Intelligent Outcomes

  • Detecting fraud
  • Predictive analytics
  • Clinical decision support

Enhanced Member & Provider Experience

  • Simplifying the buying/Enrollment process
  • Digitally enabled tools
  • Quality of care delivery
  • Migration support

Improved Revenue & Cost Reduction

  • Reducing administrative costs
  • Improving the efficiency & productivity
  • Automating data exchange and processes

Security & Compliance for Healthcare Providers

Access Control
Role-based and passwords use individual encryption keys.

 Strong Authentication
SAML 2.0 support for SSO and MFA. Smart card authentication.

Encryption Everywhere
256-bit Encryption – from network security to managing credentials.

Audit Everything
Customized log files capture everything; provides non-repudiation.

GDPR & HIPAA Compliant
Data is protected in the platform at rest and transit.

All code is Veracode tested

Insights for the Health care

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How Can Midsized Companies Benefit from Staff Augmentation

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How Can Midsized Companies Benefit from Digital Marketing

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How Can Midsized Companies Benefit from Digital Transformation

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How Can SMB’s benefit from
Consulting services

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Top Conversational AI Use Cases Valenta & OneReach.ai

Find a Partner

The Healthcare sector can benefit from Valenta services.  We have partners and staff onboard who understand this sector and who have experience in it. Everything we do at Valenta is about helping companies focus on and have time for what they do best and their core mission. We do this through process consulting, digital transformation, the automation of tasks, and by providing staff augmentation. Valenta is focused exclusively on SMB clients, typically enterprise customers with 10-1,000 employees. We have Managing Partners located in cities across the US, Canada, the UK, the EU, and Australia.  Our Managing Partners work with other onshore consultants, plus offshore consultants, developers, and managers of outsourced staff to deliver the best services to our clients. Please reach out here to locate a Managing Partner in your area.
Partner in your area.

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