Post Covid Challenges and Opportunities in Healthcare Industry

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Post Covid Challenges and Opportunities in
Healthcare Industry
COVID-19 has changed the face of every industry
healthcare is no exception to that. Pandemic
created urgent issues for healthcare systems
globally challenging standard operational
protocols, disrupting the medical supply chain
and causing critical supply shortages across the
value chain. In addition, the pandemic has
necessitated the health industrys accelerated
adoption of virtual care and enabled a digital
care transformation. This digital transformation
mainly digital services and systems are main
challenges as well as opportunities for the
healthcare industry in future. In general,
practices should cover invoicing and payments,
protection against data breaches, virtual
healthcare aspects of providing accessible and
safe healthcare. Challenges and Opportunities in
Healthcare Industry Invoicing and payments Even
before the Coronavirus disease (COVID-19)
pandemic hit the United States, a significant
number of healthcare practices were struggling
with time-consuming and costly payment processes.
According to research it costs as much as 31 to
manually process each invoice and paper check and
42 of all healthcare payments are made via
paper. However, this pandemic forced every
healthcare practice to use digital medium for
invoices and payments.
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Post Covid Challenges and Opportunities in
Healthcare Industry
Today payment options are now one of the best
things a medical practice can offer to their
patients which enhance customer experience.
However, it can become confusing for practices
who do not have the proper processes in
place. With the help of the right software and
systems, your patients can easily pay timely
bills without having any trust issue. Moreover,
digital systems can help your practice to offer
paperless statements because of the ease and data
that supports it. It is necessary for your
practice to invest in digital invoicing payments
systems by finding a compliant, secure payment
portal and giving your staff the time and
training for navigating it. Protection against
data breaches Today the healthcare sector is the
primary target for cyber criminals and data
breaches can be caused by many different types of
incidents, including credential-stealing malware,
an insider who either purposefully or
accidentally reveals patient data. Medical
practices having an increased focus on virtual
care and digital records should be protecting
their data from these cyber criminals. They
should have firewalls in place and multi-factor
authentications for their systems which helps
prevent potential cybersecurity issues, and it
also helps your clinic become a trusted source
for patients.
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Post Covid Challenges and Opportunities in
Healthcare Industry
Virtual health Virtual health includes remote
interactions to enhance the care, health, and
well-being of patients in a connected and
coordinated manner. It includes virtual provider
visits and many complex aspects of care delivery
and management which includes Hospital at Home
and virtual tumor boards. Currently, as per
a study, 76 percent of U.S. hospitals connect
with patients and consulting practitioners at a
distance through the use of video and other
technology. The COVID-19 crisis has accelerated
the need, deployment, and adoption of virtual
health solutions across health care practices,
enabling practitioners and consumers to connect
in a safer and more efficient setting. Federal
regulators have loosened some restrictions around
virtual health in response to the COVID-19
outbreak, in recent weeks, the US Centers for
Medicare, and Medicaid Services (CMS) have
temporarily eased restrictions on the use of
virtual health among Medicare members to decrease
administrative burdens and further expand
telehealth including where, how, and what
services are covered.
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Post Covid Challenges and Opportunities in
Healthcare Industry
Healthcare practices are undergoing exponential
changes in their transition to virtual services.
Lately, many hospitals and health systems quickly
extend and expand technology into new areas to
conduct virtual visits. Consumer adoption of
these new care options is soaring in the wake of
COVID-19. Hence if you have opted for a
temporary solution of virtual care then you
should invest in a method that is compliant and
secure for their patients and HIPAA regulations
as virtual care is a new opportunity for
healthcare. A plan for how virtual care will be
used, once its safe to have regular in-person
appointments again, should also be put into
motion. Now, you have a clearer picture of post
COVID challenges and opportunities in the
healthcare industry and you should adhere to
these trends to out beat your competition and we
can help you by offering medical billing
services so that you can always stay ahead in
your practice.