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Adopting a deliberate digital transformation strategy at your healthcare practice

Digital Transformation

Healthcare Payments

11. 24. 21

A movement toward secure and convenient technology solutions

Overwhelmed about switching your practice’s operations to digital-driven processes? According to a report published by Accenture, “A recent survey of healthcare executives found that 81% expect their organizations to fast-track further digital transformation.” The question is, how can organizations adapt and thrive in the face of this rapid innovation?

Planning for change can result in a more effective transition to contemporary healthcare solutions, which are essential to providing a more consumer-centric experience in and out of the office. According to HealthTech Magazine, “Digital transformation can mean an improved patient experience, reduced clinician burnout, better health outcomes, and lower costs.” While it may seem like a large effort that must be made all at once, implementing a successful digital transformation doesn’t have to be out of reach. You may not realize that these changes don’t always have to be made immediately. Just like any project, breaking digital transformation down into achievable steps over a longer time period can make this change feel more achievable for your organization. In fact, slowing down the digital transformation to focus on truly adding value can improve customer experiences, as long as there is leadership in place to invest in innovation and to encourage care with implementation.

Where there is a will there is a way. According to the Accenture report, “Healthcare executives (81%) say the pace of digital transformation for their organization is accelerating. Most (93%) report that their organization is innovating with an urgency and call to action this year.” This sense of urgency may apply pressure to a practice like yours, but it doesn’t have to overwhelm. Taking the time to educate users on how to use technology can make adoption less scary and more effective. Technology can be intimidating when team members struggle to understand it, but when it is introduced slowly and with care, it can greatly improve a practice’s ability to operate.

Encouraging technology investment and adoption at a manageable pace

The past year has shown a rise in digital transformation-related investments across geographies and industries. According to a report by IDC, “Direct digital transformation investments will accelerate to a compound annual growth rate (CAGR) of 16.5% in 2022-2024, up from a 15.4% CAGR in 2019-2024, becoming 55% of all information and communications technology (ICT) investments by the end of 2024.” As investment in technology increases, practices can maximize these new offerings by adopting them at a manageable pace.

Taking on too much too soon can be exhausting. The pandemic has brought about so much change that it takes some time to react to it and fully absorb how far we’ve come. Adjusting to the newness of virtual care, digitizing consumer payment and engagement experiences, and embracing new technology involves significant adaptability and allocation of resources. That’s why digital transformations don’t have to be rushed; in fact, slowing them down can lead to a more seamless transition.

Achieving buy-in from enterprise-level organizations and practices

Alignment about how and when to implement digital transformations can occur with strong representation of leadership in enterprise-level organizations and key decision-makers at practices. Leaders at enterprise-level organizations can include CTOs, CIOs, CFOs, etc., while decision-makers at the practice may be office managers, IT, or providers. Leadership and decision-maker endorsement and involvement is essential when it comes to overcoming key obstacles. According to Deloitte, “Survey respondents consider leadership (80%) and management of implementation (68%) to be the key accelerators of digital transformation, and culture (60%), communication ownership, and transparency (48%) the key barriers.” Leadership can take the form of mentoring team members about implementing and managing the transformation in question.

When it comes to a value-driven approach to making the digital transformation, organizational leaders and decision-makers have a chance to show patience and equip staff with the knowledge they need to help this change succeed. Educating staff about how to utilize digital tools and taking the time to make sure the implementation process is managed with care can make the difference between adoption and confusion.

Discovering a customer-oriented approach to patient payment processing

The guiding star for most digital transformations in healthcare is patient experience. In order to offer patients this advanced digital journey, it can be useful to take your time to fully understand the functionality your practice is proposing to its stakeholders. Deloitte’s article states “most survey respondents are hoping to achieve better patient experience (92%) as the top desired outcome from digital transformation.” This goal has encouraged process innovations that emphasize ease and efficiency, but these solutions are often associated with an urgency that is self-imposed. Preparing for digital transformations by starting early and building incrementally can reduce overload.

Putting the consumer first is a principle that exists across industries, especially in healthcare, in which patients are the priority. A consumer-focused approach to digital transformation is often a key point when considering the effectiveness of the overall transformation effort. The Deloitte article continues, “Health system interviewees and panelists discussed taking a consumer-centered, outside-in approach—designing processes and experiences from a consumer’s perspective as a way to build their trust and loyalty—to improve patient experience and build on newer forms of care delivery using digital technology.” These innovations are happening not just at the level of actual care, but also at the payment stage.

Finding a suite of digital solutions to improve connection

Rectangle Health’s Practice Management Bridge® platform is an ecosystem of solutions that addresses and solves for digital transformation challenges in one office or across entire healthcare organizations. This web-based platform helps practices like yours empower patients to make payments in ways that are convenient and make financial sense. The healthcare software solution offers Text to Pay, Card on File (CoF), and the flexible payment plan functionality found in Care Now, Pay Later. Digital payment options create space for patients to submit payments electronically and, in the case of Care Now, Pay Later, incrementally. These recurring payment plans reduce outstanding accounts receivables balances significantly over time, while giving patients needful healthcare right away.

Practice Management Bridge decreases paper-based administrative tasks and time-consuming follow-up conversations about payments. This platform enables you to create a better connection with your patients in an increasingly technology-driven industry, while removing the weight associated with introducing new, complicated digital processes. Practice Management Bridge installs quickly and easily, and you’ll receive guidance every step of the way. With the flexibility our platform provides, your practice can make this digital transformation slowly and speed up as it sees fit. No matter which rate of adoption you settle on, Rectangle Health is here to ease your journey. To get started, schedule a consultation today.

References
1. Safavi, K., Thompson, A., Kalis, B. & McHugh, J. (2021, June 7). Accenture Digital Health Technology Vision 2021. Accenture. Retrieved 11/8/2021, from https://www.accenture.com/us-en/insights/health/accenture-digital-health-technology-vision-2021?c=acn_glb_technologyvisiobusinesswire_12222202&n=mrl_0621

2. Kashaboina, M. (2021, October 8). What Challenges Still Lie Ahead for Healthcare’s Digital Transformation? HealthTech Magazine. Retrieved 11/8/2021, from https://healthtechmagazine.net/article/2021/10/what-challenges-still-lie-ahead-healthcares-digital-transformation

3. Carosella, G., Findling, S., Fitzgerald, S., Jimenez, D.Z., Little, G., O’Brien, A., Parker, R., Pucciarelli, J.C. & Yorifuji, Y. (2021, October). IDC FutureScape: Worldwide Digital Transformation 2022 Predictions (Abstract). IDC. Retrieved 11/8/2021, from https://www.idc.com/getdoc.jsp?containerId=US47115521

4. Appleby, C., Hendricks, J., Wurz, J., Shudes, C., Chang, C. & Shukla, M. (2021, October 26). Digital transformation: From a buzzword to an imperative for health systems. Deloitte. Retrieved 11/9/2021, from https://www2.deloitte.com/us/en/insights/industry/health-care/digital-transformation-in-healthcare.html

 


    

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