An EHR implementation is likely the largest IT endeavor ever taken on for all health systems, burning through resources, time and millions of dollars to fully roll out across the enterprise. While the benefits of a fully implemented EHR are indisputable (not to mention mandated), the implementation years are a rocky road. It can be tempting to pour all of your focus and attention into an EHR, keeping your head down until you’re through the tunnel. But investing in AI and automation can’t wait, especially on the tailwinds of COVID-19.
Artificial intelligence – including machine learning and robotic process automation (RPA) technologies – are tools that health systems need to thrive during the difficulties of an EHR implementation. AI and automation are proven to increase productivity and improve the patient experience during these years, and will continue to create efficiencies into the future. And when you choose the right AI partner, you get all of the benefits of AI and automation without wasting valuable resources or distracting your team from an EHR implementation and their daily work.
Is your EHR implementation hurting your bottom line?
EHRs like Epic or Cerner promise to be the long-awaited solution hospitals need to gain efficiencies and insights. But it takes a significantly long time and a massive budget to implement and reap the benefits of these technologies. Besides software costs, hospitals typically need to invest in additional hardware, consultants, and extensive training. At the same time, the burden of migrating data, creating new workflows, and training staff means that hospitals should actually expect a decrease in productivity and efficiency during long-term implementations.
In fact, most hospitals end up spending additional money on overtime pay or hiring temporary support staff to handle the administrative needs during this time. The decreased efficiency and higher-than-normal operating costs often lead to financial underperformance. Some healthcare systems have even cited their EHR implementations as the reason behind an operating loss.1 Combined with the lost revenue and uncertainty caused by the coronavirus pandemic, hospitals simply cannot afford to have multiple years of lost productivity and increased costs. Health systems don’t have to accept this status quo.
An AI workforce is the solution that hospitals need now to fight through the challenges of EHR implementations. Health systems are turning to AI and automation to recoup lost revenue and get back the time needed to focus on delivering care. Healthcare AI works throughout the enterprise – from revenue cycle to the pharmacy – working to increase revenue, cut costs, and increase human workforce capacity. At Olive, we know that AI and automation needs to address the short-term problems caused by an EHR implementation without taking you away from the focus and attention the process requires.
Olive works alongside an EHR implementation, without distracting your focus
Olive is the only AI-as-a-Service (AIaaS) solution designed for healthcare, meaning we do all the heavy lifting from scoping and implementation to ongoing performance management. We don’t expect our customers to be AI experts – that’s our job.
Olive knows that EHR implementations are costly, leaving fewer funds for other investments. Another benefit of Olive’s AI-as-a-Service model is one annual price and the ability to deliver quick, positive ROI. No consultants. No integrators. No surprise costs. Just a single partner to help meet your changing needs and ensure you deliver exceptional results.
As part of the implementation process, we identify and prioritize automation opportunities based on financial impact and speed to value. Health systems, especially those in the middle of an EHR implementation, need to realize the efficiencies of AI, fast. We have the experience and expertise to get your organization quick wins, so you can benefit from AI and automation right away. For one of our customers, in just 22 days, Olive implemented two eligibility workflows that delivered savings of $340K. That’s just the tip of the iceberg.
Olive is the only AI solution backed by a central operations center, relieving health systems of the burden of AI maintenance and optimization. That means Olive continues to update, accelerate performance, and find new insights and opportunities for value generation, providing impact today and well into the future. Unlike a simple RPA bot, Olive learns and adapts, getting smarter over time instead of breaking with every UI change or update.
“We think there’s just unlimited potential… [Olive] is so different from a typical IT implementation… It’s just looking for the next opportunity where we can roll it out and take advantage.” – Karen Testman, CFO of MemorialCare
Don’t let an EHR implementation crush your efficiency & bottom line
With Olive, health systems can solve some of their biggest challenges – even during an EHR Implementation – with a solution that will deliver value today, tomorrow, and far into the future. Curious how Olive works across your health system to increase efficiency, recoup costs, and improve your patient experience? Learn more about Olive and book a rapid assessment for your health system today.