Last week, iPayX attended the annual HIMSS15 conference and exhibition in Chicago, along with over 40,000 health IT professionals. HIMSS15 offers a very engaging, interactive opportunity to learn, observe and absorb new, innovative ideas from experts in healthcare technology. Its an exciting time in Healthcare right now because so much is changing with how services are delivered and the business model surrounding it. This conference shines a huge spotlight on ways technology is propelling the multi-faceted, complex healthcare industry towards bigger and better things.
Here are the highlights of our HIMSS15 Experience:
Making the Connection
The brochure stated "over 1200 vendor exhibits", but the exhibition floor that spanned the equivalent of 12 football fields was actually host to 1300+ vendor booths. I've attended a couple of these conferences in past years, but memory did not give justice to the true enormity of this event.
Our goal as attendees was to make connections.
Connect with other attendees, visitors and educators to gain insight and develop new ideas.
Connect the value of our solutions to the overarching pain points across the industry.
Connect the educational material to the reality of how things work today.
And here's what we learned:
- EMR/EHR Software is offered by over 300 Vendors in the marketplace now, but many are lacking the full capabilities that providers need to meet Meaningful Use requirements. Patient Engagement is the big issue at play and finding the right tools to foster a better connection between the patient and provider is the key. Healthcare providers looking to upgrade their EMR systems will want to invest in a robust solution; One that can improve work flow efficiency and reduce costs.
- The major global issues circulating healthcare right now relate to cost, quality and the coordination of care. These issues impact every constituent within the healthcare community, from provider, to patient and all things in between. Telehealth, Kiosks and Mobile Apps are prime examples of leveraging technology to connect patients more directly with their healthcare experience. These methods are more cost-effective and engaging for the modern patient population and may best serve the complicated needs of the provider segment.
- A shift in the reimbursement model is swiftly approaching a turning point. The patient self-pay receivable is a large portion of a providers' reimbursement, larger than it's ever been thanks to rising deductibles and changes to health coverage plans. The amount collected from patients represents a significant chunk of provider revenue and continues to grow. Healthcare systems designed to manage insurance payments as the main source of reimbursement are challenged with the complexities of this growing self-pay revenue stream. Many are finding that their simplistic approach to collecting patient payments needs to be expanded and improved.
The common denominator that I see in much of the newer technology and services aimed at solving for these issues, is their ability to make connections. Patient Engagement, Cost Transparency, Interoperability, Telehealth - each introduce ways for connecting various aspects and components within the healthcare landscape.
How is your organization connecting to the new changes in healthcare?