The healthcare industry is rapidly evolving and while large systems may be able to easily adopt new technologies and keep pace with the changes, rural providers will struggle to stay current. It’s imperative for these providers to make a proactive decision to optimize their operations, bringing both value and efficiency to their administrative and financial function. To keep up with the complex environment – and more critically, to survive and continue serving their communities – rural hospitals must embrace change.
Several of the key areas which rural hospitals may want to address as they seek to improve efficiency and effectiveness include automation and outsourcing, predictive analytics, reskilling and workforce development, and cybersecurity.
Automation and outsourcing Mundane manual transactions can absorb a lot of resources and provide an opportunity to improve operational efficiency. Common manual transactions include invoice processing, payroll calculations, expense report handling, bank reconciliations, procurement and purchase order management, medical billing and coding, and financial reporting. By automating these routine transactions, rural health finance departments can significantly reduce workload and minimize errors.
In addition to automation, considering outsourcing non-value-added activities or collaborating with other providers can further streamline operations. By reallocating these tasks, finance departments can free up their staff to focus on strategic, value-added activities that drive organizational growth and efficiency. These strategies not only enhance productivity but also position rural health providers to keep pace with industry advancements and maintain a competitive edge.
Data-driven decisions Another way rural health providers can prepare for future transformation is by shifting from historical thinking to future-oriented thinking. Adopting a forward-thinking approach means moving away from simply recording and analyzing past data to proactively using data and technology to predict future trends and make informed decisions. This involves leveraging predictive analytics, real-time data monitoring, and advanced decision support systems to anticipate and respond to future challenges. By shifting focus from historical to forward-thinking, rural health providers can make proactive decisions that enhance patient outcomes, optimize operations, and ensure long-term sustainability.
