Data extraction has become a far more critical aspect of healthcare management in the past several years, driven by the rapid influx of new technologies such as electronic medical record systems and enterprise mobility. Regulatory compliance has been intensifying in the sector, especially in the United States, and a vast portion of the total statutes being released are directly targeted at the progressive use of patient information for care improvement purposes.
Take, for example, the Health Information Technology for Economic and Clinical Health Act that passed in 2009, which demanded all health care providers achieve meaningful use of EMR systems within a relatively short period of time. This forced hospitals, insurance companies and other covered entities to deploy new management systems for their patient information, all the while maintaining security compliance with the Health Information Portability and Accountability Act.
This is just the beginning of a much larger trend toward more advanced technologies entering the average health care provider's IT department. Mobility, the Internet of Things, telehealth and more are all on the table, and must be deployed properly.
Because every technology that enters the equation will impact data extraction, management, compliance and reporting, all medical organizations need the right tools to cover the finer points. TextConverter is superior in the data mining and extraction arena, especially for health care providers.
The challenge Some of the more complex challenges involved in medical data analysis include the following:
- Data extraction across disparate systems such as patient care management, coding, billing and accounts receivable, clinical tests and treatment, and others.
- Analyzing information spanning a variety of reports, including registration, clinical patient care, coding/financing, patient follow-up, and operations.
- Converting various formats of information into live data that can be manipulated and reused in the formats required by the user.
Virtually any setback in one of these areas will hinder data analysis performances, not to mention reporting, compliance and other critical matters involved in medical organization management and oversight. Additionally, inefficiencies in these areas will almost always lead to issues with wasteful spending, poor turnarounds on report requests, a lack of smooth operations and other financially damaging nuisances.
The solution TextConverter 4.5 has been the solution to these and other problems in several medical organizations, and has shone thanks to carefully crafted tools within the software. First, TextConverter will unify reports from the disparate systems in seconds, all within a platform that can be used without any IT skills. This is an especially important strength for health care providers, as so many different staff members - often including those outside of the technology department - must be able to use these tools to complete their tasks.
Then, those reports will be distributed to the parties who need them in a timely fashion and palatable format - completely automating the conversion process for specific projects and requirements. Because of the sheer volume of reports that have to be generated on a given day, the ability to create projects in minutes, input layouts of any complexity, run reports automatically and self-audit is invaluable in the health care sector today. TextConverter 4.5 does all of this and so much more.
The solution has proven powerful in medical settings, especially from the perspectives of those most heavily involved in reporting, analysis, administration, accounting and patient care. After all, the biggest objective this investment will carry will be to streamline operations and reporting to allow professionals to focus on the core business - taking care of patients - and no other tool provides this outcome quite like TextConverter 4.5.
The outcome TextConverter gets staff members and leaders in the medical sector back to patient care, and saves organizations in the industry both in terms of budget and time. In a scenario that involves a health care firm with 50 users who spend about 12 hours each month on data extraction from existing reports and creating reports they need - which is a reasonable estimate to say the least - TextConverter has the following impact:
- Before implementation, 50 users spending 12 hours each month at a rate of $40 per hour would cost about $288,000 annually.
- Following implementation, TextConverter will reduce development time by 90 percent, or about 10 hours per user each month. That translates to 50 users spending 10 hours a month at a rate of $40 per hour for 12 months.
- The savings achieved with TextConverter in this scenario translate to $240,000 annually.
The operational benefits of the solution are also vast. Data analysis professionals in the sector have enjoyed the ability to run reports while out of the office through the automation tools, all the while opening TextConverter right through Excel spreadsheets. Streamlining data mining and extraction is no longer an option in the medical sector, but rather a rite of passage when striving toward operational optimization.
Such improvements show in everything from employee engagement and performances to organizational success, and TextConverter 4.0 can yield these outcomes for health care providers.