Tag: healthcare

Task Mining Products PEAK Matrix® Assessment 2023

Task Mining Products

Task mining plays a vital role in improving operational excellence, filling the automation pipeline, and accelerating organizations’ digital transformation journeys. It offers a data-driven approach to process optimization and automation, gaining rapid traction across geographies. With diverse use cases spanning business functions and verticals, task mining proves instrumental in achieving cost savings, operational efficiencies, and elevating employee experience. Technology providers are continuously evolving, enhancing their product capabilities, features, and functionalities. To achieve success, enterprises must diligently select the right-fit task mining technology providers that suit their needs.

Task MiningProducts

What is in this PEAK Matrix® Report

In this report, we examine 19 task mining technology providers and position them on Everest Group’s PEAK Matrix® as Leaders, Major Contenders, and Aspirants based on their capabilities and offerings. The research will help buyers select the right-fit technology providers for their needs and enable providers to benchmark themselves against each other.

In this PEAK Matrix® report, we provide:

  • Everest Group’s PEAK Matrix® evaluation of 19 task mining technology providers and their categorization as Leaders, Major Contenders, and Aspirants
  • An overview of process intelligence products
  • A competitive landscape of the task mining technology provider market
  • Key task mining technology trends
  • Providers’ key strengths and limitations

Scope:

  • All industries and geographies
  • Task mining software products that are sold on a license, irrespective of any ongoing business or IT process outsourcing or managed services
  • The assessment is based on Everest Group’s annual RFI process for the calendar year 2022, interactions with leading task mining technology providers, client reference checks, and an ongoing analysis of the task mining market

 

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What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

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Clinical and Care Management Operations – Services PEAK Matrix® Assessment 2023

Clinical and Care Management Operations – Services PEAK Matrix® Assessment

Value-based care models have gained significant traction in the market with growing costs of healthcare services and a pronounced gap in the care quality provided under traditional fee-for-service models. Consequently, the Centers for Medicare and Medicaid Services (CMS) plans to drive the adoption of value-based care by transferring all Medicare fee-for-service beneficiaries into a care relationship with accountability for quality and lower total cost of care by 2030. While the pandemic initially drove alternate care delivery models, such as home-based care and virtual care, enterprises are increasingly using them to improve the continuity of care, reduce costs, and drive value for their member/patient base.

However, this push toward value-based care requires further technology investments from both payers and providers for integrated care management and effective utilization management. Providers can fulfill enterprises’ clinical and care management operations requirements by delivering clinical services from cost-effective locations and deploying advanced technology solutions built on a foundation of clinical, claims, and Social Determinants of Health (SDoH) data for personalized care programs and engagement.

PEAK CCM 2023

What is in this PEAK Matrix® Report

In this research, we assess 15 healthcare service providers featured on the Clinical and Care Management Operations PEAK Matrix®. We provide a relative positioning and analysis of the providers’ market shares and evaluate their strengths and limitations. The study will enable healthcare enterprises to identify suitable providers to transform their business processes.

This report features a detailed analysis of 15 healthcare service providers and includes:

  • Relative positioning of the providers on Everest Group’s PEAK Matrix® for Clinical and Care Management Operations
  • A comparison of the providers’ capabilities and market shares
  • Everest Group’s analysis of the providers’ strengths and limitations

Scope:

  • Industry: healthcare business process
  • Geography: global
  • The assessment is based on Everest Group’s annual RFI process for calendar year 2023, interactions with leading healthcare clinical and care management operations providers, client reference checks, and an ongoing analysis of the healthcare BPS market

 

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What is the PEAK Matrix®?

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Revenue Cycle Management (RCM) Operations PEAK Matrix® Assessment 2023

Revenue Cycle Management (RCM) Operations PEAK Matrix® Assessment

2022 was a tumultuous year for the US healthcare provider landscape. With patient volumes still below pre-pandemic levels, an increase in the average length of stay, severe talent shortages, and escalating costs, nearly half of the hospitals in the country faced negative margins. As healthcare providers face mounting revenue pressures, they are prioritizing the futureproofing of their revenue cycle operations. To overcome the current challenges, healthcare providers are seeking the support of third-party providers to optimize and streamline their revenue cycle processes.

RCM Peak

What is in this PEAK Matrix® Report

In this report, we assess 31 providers featured on the Revenue Cycle Management (RCM) Operations PEAK Matrix® Assessment 2023. Each profile offers a comprehensive picture of the provider’s service focus through a snapshot of its key strengths and limitations.

In this report, we examine:

  • The RCM Operations PEAK Matrix® Assessment 2023
  • Key insights into PEAK Matrix® dimensions
  • The RCM BPS provider landscape
  • Providers’ capabilities and market shares
  • Providers’ key strengths and limitations

Scope:

  • Industry: healthcare
  • Geography: global
  • Service: RCM Business Process Services (BPS)
  • The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading RCM providers, client reference checks, and an ongoing analysis of the RCM services market

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How Technology Can Help Healthcare Overcome the $30 Billion RCM Spend | LinkedIn Live

linkedin live

How Technology Can Help Healthcare Overcome the $30 Billion RCM Spend

View the event on LinkedIn, which was delivered live on Wednesday, June 28, 2023.

🏥 The pandemic left no industry untouched, but healthcare was especially impacted. Healthcare providers were sent into a financial tailspin as elective surgeries were halted, and general expenses increased.

📉 The industry is bouncing back, yet the financial burden continues to escalate due to soaring wage costs and increased efforts to retain talent.

Watch this LinkedIn Live to discover how healthcare providers can rethink their revenue cycle management (RCM) strategies to future-proof their operations, including how technology adoption can significantly improve administrative efficiencies, streamline operations, reduce costs, increase revenue, and reduce dependency on talent.

What questions does the event address?

  • How is the RCM market evolving, and how is technology becoming an integral part of the overall solutioning?
  • What sourcing criteria should healthcare providers consider when evaluating their RCM needs?
  • What are the supply landscape characteristics and their value propositions?

📅 Save the date and join us for an insightful discussion!

Meet The Presenters

Sahni_Priya
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Healthcare Payer Operations PEAK Matrix® Assessment 2023

Healthcare Payer Operations PEAK Matrix® Assessment

The healthcare industry constantly evolves, requiring organizations to continuously adapt and enhance their capabilities to stay competitive. The shift toward value-based care has presented various opportunities, such as telehealth, population data analytics, remote patient monitoring, commercial models based on risk assessment, increased investment in care management, and a greater emphasis on digital initiatives, particularly automation and analytics. To achieve these objectives, healthcare providers are forging robust partnerships within ecosystems, collaborating with top third-party providers, developing innovative technological solutions, and implementing novel approaches such as Business-Process-as-a-Service (BPaaS) and provider solutions for service delivery.

HPOPEAK23

What is in this PEAK Matrix® Report

In this report, we analyze 29 healthcare payer operations providers featured on the Healthcare Payer Operations PEAK Matrix® . The report positions the providers’ market shares relative to each other, and evaluates their strengths and limitations. The study will enable healthcare payers to identify suitable providers to transform their business processes and differentiate themselves.

This report analyzes 29 healthcare payer operations providers and includes:

  • An assessment of the providers’ relative positioning on Everest Group’s PEAK Matrix® for Healthcare Payer Operations
  • A comparison of the providers’ capabilities and market shares
  • Providers’ key strengths and limitations

Scope:

  • Industry: healthcare
  • Geography: global
  • The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading healthcare payer operations providers, client reference checks, and an ongoing analysis of the healthcare payer operations market

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Healthcare Data and Analytics Services PEAK Matrix® Assessment 2023

Healthcare Data and Analytics Services PEAK Matrix® Assessment

Healthcare enterprises are recognizing the growing importance of Data and Analytics (D&A) in their growth strategies, as data-driven decision-making gains significance. Traditionally, D&A services focused on cost-cutting and operational optimization; however, there has been a shift toward prioritizing customer satisfaction and improving health outcomes. This shift has led healthcare enterprises to invest in data integration and advanced analytics, with a specific focus on areas such as data privacy, value-based care, and population health. Although payers have been leading in the adoption of D&A, providers are rapidly catching up, with the pandemic serving as a catalyst for this trend. Providers are assisting healthcare enterprises in defining their D&A strategy and roadmap, upgrading their infrastructure, and providing relevant recommendations for enterprise-level decision-making, resulting in tangible business benefits.

  • HDAPEAK2023 1

What is in this PEAK Matrix® Report

In this report, we assess 35 healthcare D&A service providers featured on Everest Group’s Healthcare Data and Analytics Services PEAK Matrix® Assessment 2023 Each provider profile offers a comprehensive overview of its service focus and key strengths and limitations. The research will help buyers select the right-fit provider for their needs, while providers will be able to benchmark themselves against the competition.

In this report, we:

  • Study healthcare D&A services market trends
  • Examine 35 healthcare D&A service providers’ capabilities and offerings
  • List providers’ key strengths and limitations

Scope:

  • All industries and geographies
  • Geography: North America
  • The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading CCaaS technology providers, client reference checks, and an ongoing analysis of the CCaaS market

The assessment is based on Everest Group’s annual RFI process for the calendar year 2023, interactions with leading D&A service providers, client reference checks, and an ongoing analysis of the healthcare D&A services market

DOWNLOAD THE HEALTHCARE DATA AND ANALYTICS SERVICES PEAK MATRIX® ASSESSMENT 2023

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The Generative AI Revolution: Transforming Customer Experience Management

What is the PEAK Matrix®?

The PEAK Matrix® provides an objective, data-driven assessment of service and technology providers based on their overall capability and market impact across different global services markets, classifying them into three categories: Leaders, Major Contenders, and Aspirants.

LEARN MORE ABOUT Top Service Providers

Generative AI in Healthcare – A Game Changer or Another Fad? | Blog

Generative AI (GAI) has disrupted numerous industries, and the healthcare industry is eager to join in and explore the applications of GAI in healthcare research. However, the healthcare sector must be cautious due to the potential risks. Read on to learn more about Generative AI in healthcare, including adoption, usage, and risks.

Reach out to us directly for questions or further details.

Generative AI, an advanced technology that employs deep learning models, can create images, videos, text, codes, simulations, and other high-quality content by responding to given prompts within seconds.

While GAI has been shaking up almost every industry with its easy-to-use interface and instant responses, the healthcare sector is typically slower to adopt new technology, and the risks of inappropriately deploying the technology are huge.

Nevertheless, technology giants and healthcare startups are racing to test the potential for large language models (LLMs) and GAI tools in healthcare research. Understanding the adoption, usage, and potential risks of GAI in the healthcare setting is crucial.

With its vast applications, it is important to carefully select the use cases that can positively impact patients with minimal regulatory, compliance, cost, and health risks. Let’s explore this further.

By using the below framework, healthcare organizations can prioritize use cases for observation, exploration, and future investment:

Screenshot 2023 05 31 100315

Screenshot 2023 05 31 110302

Based on our analysis, GAI offers the greatest immediate potential in the area of clinical documentation. The technology can be used to free scarce clinical resources from time-consuming administrative tasks, allowing them to instead focus on delivering quality care to patients. For example, simplifying clinical documents and creating easy-to-review clinical patient summaries are some areas where GAI can have the greatest short-term impact in healthcare.

Looking beyond these basic applications, healthcare stakeholders need to cautiously consider using GAI for diagnosing patients or directly providing medical care. The technology’s tendency to sometimes invent a response when it lacks sufficient information makes it too risky for care delivery. Significant long-term investments will be needed before GAI can be used for delivering patient care.

Will Generative AI in healthcare lead to job loss?

GAI is expected to considerably alleviate the administrative burden of healthcare professionals. The nature of jobs will shift and healthcare professionals will have to adapt as demand grows for GAI. Certain healthcare professions such as medical transcriptionists, medical record keepers, medical coders, call center executives, and home healthcare executives will need to upskill as GAI automates some manual processes.

The other big question in everyone’s mind is whether GAI will completely replace physicians. This is unlikely to happen anytime soon. GAI should be viewed as a tool to augment healthcare professionals’ capabilities and not replace them entirely. Physicians, surgeons, radiologists, and nutritionists will leverage GAI to enhance care delivery.

Challenges to future adoption

Generative AI in healthcare is a disruptive opportunity that both excites and concerns healthcare professionals. While it offers significant potential, the industry needs to overcome obstacles to commercial adoption.

Some of the risks include:

  • Ethical concerns and biases – Healthcare professionals must be wary of the ethical concerns and limitations related to using sensitive member/patient information. Moreover, limitations of datasets also can lead to biases in results or outcomes suggested by GAI
  • Training data limitations – Generative AI models require high-quality training data to improve the accuracy of output, which can be difficult to source. The model’s efficiency also depends on the breadth of training data, which can be both time-consuming and expensive to label
  • Integration issues – Integrating GAI into existing healthcare systems and workflows can be challenging, especially with legacy systems that are not designed to work with AI
  • High costs – The technology costs of building and deploying GAI models can be expensive

Adopting Generative AI in healthcare can be a game changer. While it offers many potential benefits, the industry needs to fully understand the associated risks of GAI before implementing use cases and adopting the technology at scale.

To discuss the future of Generative AI in healthcare, contact Kaushik Sundar, [email protected], or Priya Sahni, [email protected].

Continue learning about the healthcare industry in our webinar, How Technology Can Help Healthcare Overcome the $30 Billion RCM Spend.

Transforming Customer Experience in Healthcare with Hyper-personalization | LinkedIn Live

LINKEDIN LIVE

Transforming Customer Experience in Healthcare with Hyper-personalization

View the event on LinkedIn, which was delivered live on Wednesday, May 31, 2023.

🏥The healthcare industry is undergoing a major shift driven by evolving customer expectations and care delivery models as customers and patients demand more hyper-personalized experiences. To meet this demand, healthcare enterprises are leveraging customer experience platforms (CXPs) to pull in data from multiple sources, analyze it, and generate actionable insights that enhance the customer experience across pre-care, care, and post-care interactions 📈.

📣 📣Join our experts as they discuss how enterprises should look at customer experience in healthcare and how the scope has evolved to include hyper-personalized experiences that span care management, proactive grievances redressal, and billing and payments.

What questions did the event address?

✅ How should service providers and enterprises think about customer experience?
✅ What key investments are required to drive superior customer engagement in healthcare?
✅What is the current CXP supplier landscape, and who are the new players?

Meet The Presenters

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