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Company Analysis

Marion Allen

Rasmussen College

Healthcare Operations Management

Deborah Ryan

July 9th, 2022

Company Analysis

The role of managers and technology

As technology is becoming a big part of the health care systems, the role of health information managers is becoming more significant. There is a large amount of information related to the patients in a single hospital; the managers must analyze and organize this information by storing it in electronic health records. This helps keep the information about the patient's medical condition and any other medical history on a cloud that the internet can access. The manager should have enough knowledge related to technology to help him monitor technological aspects (Alolayyan, 2020). The managers must also ensure that the staff members have the required training and information related to the technology used in the healthcare facility.

Ways to improve healthcare outcomes and reduce costs through new technology

To cut down costs in the healthcare setting by using technology, we first have to replace the repetitive tasks that require a lot of time with one simple technology-aided system. For example, administrative tasks are very tedious and time-consuming; involving technology in this area can save money and time. This will also improve the outcome as there will be no misreporting due to human errors. Staff can also be minimized by using scheduling apps, eliminating the need to coordinate the treatments and appointments with the physicians. The billing and insurance processing can also be time-consuming (Kruse, 2018). With the help of technology, it can also be automated, which can improve the financial condition of the healthcare facility. We can also introduce health management apps to the patients. This will improve the health outcomes by reminding the patients of their medication routine and giving them a progress report of their lab reports.

Deficiencies in the clinical use of technology

Technology supplies comfort and convenience to the health care staff members but also creates excellent chances of blunders. For example, when the electronic health records are on the server of the healthcare facility, these can be accessed by hackers, who can use this information for ill purposes. A strong firewall must protect confidential patient information to fight cyber-attacks. Another deficiency is related to the lack of knowledge of the technology among both staff and the patients. There must be awareness sessions to educate the patient about how the technology can help them.

Technology and medical errors

Medical errors cause more than 250,000 deaths annually in the United States. These errors might be due to the administration of the wrong medicine, which is caused by miscommunication or poorly written prescription notes. Both interphases indicate human errors that danger the patient's life. This situation can be avoided by using computerized prescriptions. Technology-aided systems eliminate the chances of human errors and improve the patient's safety. However, technology is not only the solution to errors; the human-computer interface causes some errors. (Vilela, 2019).

Concentration on profit margins

Healthcare facilities in the concentrated markets earn a more significant profit because they have higher prices than the other options and more profit margin. This is due to the high headcount of patients visiting the hospitals and higher rates of hospital fees charged to the patients. On the other hand, the healthcare facilities in the competitive market have low-profit margins; they have to survive and compete with other options which can provide low prices to the patients. So, the healthcare facilities in a concentrated market earn more than those in a competitive need. For instance, in the case of coronary angioplasty, the profit margin of an entire healthcare facility is 25.1% more than the competitive one.

References

Alolayyan, M. N., Alyahya, M. S., Alalawin, A. H., Shoukat, A., & Nusairat, F. T. (2020). Health information technology and hospital performance the role of health information quality in teaching hospitals. Heliyon, 6(10), e05040. https://doi.org/10.1016/j.heliyon.2020.e05040

Kruse, C. S., & Beane, A. (2018). Health Information Technology Continues to Show Positive Effect on Medical Outcomes: Systematic Review. Journal of medical Internet research, 20(2), e41. https://doi.org/10.2196/jmir.8793

Vilela, R., & Jericó, M. C. (2019). Implementing technologies to prevent medication errors at a high-complexity hospital: analysis of cost and results. Einstein (Sao Paulo, Brazil), 17(4), eGS4621. https://doi.org/10.31744/einstein_journal/2019GS4621

Appendix page

This will also improve the outcome as there will be no misreporting due to human errors. The billing and insurance processing can also be very time-consuming. Technology provides a positive turn to healthcare outcomes. (Kruse, C. S., & Beane, A. (2018). Health Information Technology Continues to Show Positive Effect on Medical Outcomes: Systematic Review. Journal of Medical Internet)

This helps keep the information about the patient’s medical condition and any other medical history on a cloud that the internet can access. The manager should have enough knowledge related to technology which can help him in monitoring technological aspects. The hospital technology manager, hospital performance, and quality of information are directly proportional to technology usage. (Alolayyan, M. N., Alyahya, M. S., Alalawin, A. H., Shoukat, A., & Nusairat, F. T. (2020). Health information technology and hospital performance the role of health information quality in teaching hospitals. Heliyon, 6(10), e05040)

These errors might be due to wrong medications caused by miscommunication due to poor prescription understanding. This can be avoided by using computerized prescriptions (Vilela, R., & Jericó, M. C. (2019). Implementing technologies to prevent medication errors at a high-complexity hospital: analysis of cost and results. Einstein (Sao Paulo, Brazil), 17(4), eGS4621)