GE Healthcare and Accenture are in a venture to change how the healthcare industry processes medical claims.
- “Outdated technology is responsible for about $2 billion in lost revenue to U.S. healthcare providers, GE Healthcare suggested.
- “The pair plan to use their combined consulting businesses and analytics expertise to help providers save an average of 25 percent to 50 percent of their current costs to re-process denied claims, which GE Healthcare billed as ‘one of the largest areas of lost revenue in the U.S. healthcare system.”’
The venture aims to assist a wide range of providers by showing how claims management affects financial performance and then having GE-Accenture follow up by redesigning workflows and financial operations.
Contrary to what has been the conventional wisdom that what health-insurance consumers want above all is choice, a study by Accenture, the consulting firm, found that most patients would be happy to be in a narrower, coordinated-care network as long as they have generally good medical service and control over their medical information.
Jean-Pierre Stephan, a managing director at Accenture. said: “We found that patients actually prefer these coordinated-care networks. Consumers don’t want unlimited choice. What they want is a few good choices.”
Part of Modern Healthcare’s summary of the report said: “Consumers are more loyal to their preferred airline or hotel chain than their doctors, he (Mr. Stephan} added. Only 26% of the 1,980 adults surveyed said they would definitely leave a network if their doctor stopped participating in it. Ninety-four percent said access to their medical records was the single most important piece of information-sharing.”
We recommend the book The Tyranny of Choice, by Renata Salecl.
An Accenture report identifies several crucial sectors of investment in healthcare that could profoundly change the industry.
The consulting company says its analysis of State Health Innovation Plans (SHIPs) reveals that they show early momentum around the next generation of health and human services convergence—if states can effectively implement and scale their strategies.
”Collectively, SHIPs represent the current state view on the art of the possible in reinventing care delivery. Analysis of the plans shows that states envision coordinated, collaborative and cost-effective health and human services models that are much different from ‘the system’ as it is today.”
”SHIPs emphasize the need to address influences beyond healthcare—behavioral and social dimensions—to improve health outcomes. The vision is for an ecosystem for health and human services convergence.”
In its analysis of the first round’s State Health Innovation Plans, Accenture identifies some of the following major investment areas:
Digital tools and telehealth.
Payer database reforms.
Community care management.