Can AI and Deep Learning Help Healthcare Providers Reduce Cost

Did you know that many healthcare providers spend time manually chasing down information?

Despite so many technological advancements, we still use paper to store information and have no means to extract the details digitally.

Hospitals and health providers can deliver better patient care through new technologies.

AI and deep learning can help hospitals to reduce costs in key areas. 

Health systems already have access to many clinical opportunities. 

These include reducing the cost of readmissions, Social Determinants of Health (SDOH), and assessing the patient journey. 

This conversation focuses on the business side, on operational data analysis. 

The storage, processing, and analysis of big data plays a key role in the decision-making process of many industries. 

These practices can be successfully applied in healthcare, specifically in hospitals. 

Up to 40% of hospitals and healthcare providers spend time chasing down paper information to extract data. 

Reliance on paper and manual systems use up valuable time and resources. 

The question is, how do healthcare organizations and healthcare providers unlock the data on paper? 

AI and deep learning are the tools that can unlock that very valuable information and eliminate the need for manual systems. 

Hospitals are making progress in the use of data analytics but still rely on scanning paper. 

We must be thoughtful about how we use AI and deep learning to achieve cost savings.

Three specific areas exist:

  • Process automation 
  • Cognitive insight
  • Cognitive engagement

Process automation extracts the data on paper and puts together a process to analyze that information. 

We encourage all hospitals and healthcare providers to explore the exciting opportunities available to achieve cost savings. 

All hospitals should look at bringing in AI and deep learning. 

At VIE Healthcare® we help hospitals start that exciting journey. 

Invoice ROI™ is our proven, automated invoice reconciliation, contract optimization, business intelligence, and analytics platform.

Invoice ROI™ reconciles thousands of line item details in minutes. 

We also offer expertise in Healthcare Spend Analytics™ and Hospital Spend Analytics™.

Contact me to find out how we can help.  

Lisa Miller

Lisa Miller

Lisa Miller is a consultant, speaker, and podcast host. Her consulting firm, VIE Healthcare, has provided services to over 1,000 hospitals and organizations since 1999.

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