Where is IT going in medical practice?

We’re well into 2019 now and we, as Medical Practice financial management specialists, know all too well what IT can do to assist us in what we do for the medical practice.

At MFI, our own state of the art technology enables us to process medical aid claims in excess of R300 million a year! We thought it might be useful, or at least interesting reading for our medical practice clients to know what kind of advancements are being made to change the face of medical practice in 2019.

Obviously Medical practice and IT are inextricably linked and the greatest advancements in medicine in recent years have all been linked to technology, but right now, in 2019, where is IT going in medical practice?

It’s a big subject, but in essence there are three acronyms you need to remember that are changing IT in medicine –these are IoT, BDA and AI…

IoT – The Internet of Things (IoT)in healthcare is one of the fastest growing trends in 2019 and has rocketed from remote monitoring, to wearables, smart sensors and currently mobile apps.

In essence this enables Medical Practitioners to operate more remotely. They can monitor patients from wherever they are anywhere in the world and this has the benefits of reducing cost and time spent on diagnosis and treatment.

BDA – Big Data and Analytics,will in 2019 more rapidly integrate into the clinical workflow.  Health organisations will more accurately be able to get more reliable insights from huge quantities of patient data.

Healthcare professionals will use this ‘Big data’ and Analytics to make quicker and easier diagnosis, while medical aids are also now able to monitor patient health more closely to offer more tailor made products.

AI – Artificial Intelligenceis, in all industries, the big daddy of what’s trending in the IT world right now. In the Healthcare industry, AI is helping day to day healthcare processes to become far more sophisticated and the benefits are numerous.

Healthcare provider Executives are heavily investing in AI, machine learning and predictive analytics – as these are, according to statistics, able to automate tasks such as routine paperwork (82%); scheduling (79%); time-sheet entry (78%) and accounting (69%).

Utilising IT in solid financial Management

The healthcare industry has in the past, believe it or not, been slower than others with adopting new technology, but that is no longer the case. The technology is advancing so rapidly now that providers know they must embrace technology or get left behind.

This also applies to the financial management of a practice. As stated in the first paragraph of this article, we utilise state of the art technology to get our outstanding results with medical claims and that technology is available to all our clients.

Contact us to get on board with the best in Medical Practice Finance Management and find out that we are not just accountants, but in fact an integral part of where IT is going in medical practice!