When talking about the medical industry, most people instantly think of hospitals and emergency rooms. In reality, there are many sectors that go well beyond routine doctor visits, such as pharmaceuticals, insurance, and medical devices and equipment. Healthcare is a massive field with the United States having the greatest medical spending in the world. In such a competitive market, it is important to put your business a step above the rest.
In many cases, medical companies still rely on off-the-shelf software to manage their operations or automate aspects of their organization. Whether a local physician’s office or a small or medium-sized medical device company, investing in a digital transformation will help you overcome your obstacles. Custom solutions provide tailored features that are mostly absent in off-the-shelf software, such as automation in scheduling and billing, cloud capabilities, and streamlined documentation for your specific business needs. Don’t settle for a flawed system that cannot integrate with existing platforms or lack customizable features as expected when you can have a custom option that actually works.
Resolving Pain Points in the Medical Industry
There are a variety of bottlenecks that can occur depending on the sector. Whether your business focuses on billing and pricing or physically seeing patients, a custom digital transformation can take you to the next level.
Create Transparency in Pricing & Billing
Due to the critical nature of the medical field, there is no room for error in pricing and billing. If the data is not accurate, transparent, or accessible, businesses that focus on purchasing and procurement may end up overpaying, and organizations that bill patients may end up with inaccuracies in patients’ files.
Take the medical device industry as an example. Your custom software would be able to handle all facets of both tracking supplies and shipments as well as price comparison. This is especially apparent on a large scale. These businesses require a streamlined, efficient approach to meet their needs. Analyzing the data and expenses takes a custom cloud-based solution that works with companies as they grow.
As for patient and service billing, many organizations look to ready-made systems. Though these may do a portion of the job, they are unable to be tailored to the exact business needs. These off-the-shelf systems oftentimes lack industry-specific features and direct IT support. There may be other issues as well, such as limitations to number of users or system outages with online integration.
When factoring in other platforms used in conjunction, staff may be doing double the work or unnecessary tasks. Billing is also a confidential endeavor which requires security; therefore, moving this billing data and procedures to the cloud ensures your information is encrypted, safe, and available whenever it is needed by all users.
Transform Traditional Paperwork
Paperwork is a staple in the medical industry, but it can create a clog in workflow. From intake forms to scheduling, paperwork is generated from the moment the patient arrives up until the time that they leave. Even disregarding patients entirely, it is still heavily used to manage staff and employment documentation. Essentially, every point of healthcare business requires it.
Where does this paperwork go? Bookkeepers are specifically hired to manage and maintain all documentation. As time passes, legacy structures and procedures result in outdated practices, which squanders valuable time and resources.
Organizations may find it a daunting task to make a switch to a tailored solution to manage their paperwork and are concerned with the cost a custom solution brings. When factoring in the automation and cloud central storage and access, the software pays for itself over time as you can free up human capital. You may not need that additional bookkeeper after all.
With so much paperwork, it can be difficult to know where to start. The key is proper planning. It is important to invest in your business goals. Whether it be streamlining intake processes with digital platforms, migrating your data to the cloud, or modernizing your content management system, a custom solution can ease your burden.
Update Your Complicated System
Technology changes so quickly, and platforms that were cutting-edge five years ago now fall short. Relying on outdated software is risky and can backfire. When staff is required to use a complicated system, they may find alternative measures to get the job done quicker. In healthcare, this is especially important to manage due to confidentiality laws and restrictions.
Oftentimes, businesses try to combine multiple off-the-shelf solutions to do the job. Many issues, such as integration, security measures, and incompatibility, can arise. There’s more than likely going to be some overlap when trying to juggle between them as well. What if you could have one—yes, just one—platform that can manage them all? It’s possible with a clear goal and the right team of developers to create a custom software solution.
Developing a Custom Cloud-Based Software Solution for BroadJump
In 2012, Dallas-based startup BroadJump, LLC was conceived to solve a critical issue facing healthcare organizations—lack of insight and control of their non-labor expense categories. They recognized that the lack of pricing transparency and procedure data that plagues the industry has resulted in hospitals and other medical facilities overpaying for supplies. In addition, opportunities to increase procedure standardization and efficiency have gone undetected, which negatively impacts both profitability and quality of care.
BroadJump had an ambitious goal of streamlining the medical sourcing process for hospitals by providing pricing transparency across the medical supplies and equipment industry. They needed a custom software solution that could help them track and consolidate different prices for hospital equipment and supplies across the nation—and they needed it fast.
When BroadJump came to Code Authority, they explained that the medical supplies industry can be quite murky when it comes to pricing. They wanted to make that pricing crystal-clear.
“Out of frustration with the status quo, we reached out to Code Authority to develop a suite of applications that not only help medical providers gauge their pricing against the market and manage their costs on-demand, but also positively impact discussions with clinicians to pinpoint best practices in procedure protocols and reduce variance in supply costs” said Greg Corban, COO of BroadJump.
Through an extensive design and architecture phase, Code Authority made sure to capture all the requirements of this one-of-a-kind product that needed to be fast-tracked to meet BroadJump’s ambitious business plan.
The solution was to provide BroadJump with a 100% cloud-based solution to meet their every need in a fast and secure fashion. Code Authority developed a program that featured an efficient way to analyze purchase data across the medical supply chain in order to provide price comparisons. They used cloud platforms like Microsoft Azure to deal with big data while minimizing the cost.
It was also important that Code Authority implemented speed and efficiency into the program that could adapt as the industry changed or a certain medical facility's needs changed. This was achieved by using hybrid architectures, combining many technologies and products such as: Docker, Kubernetes, cloud services, as well as relational and document databases. Code Authority demonstrated a mastery of different platforms for BroadJump’s specific needs and had them working together for one seamless solution.
“By significantly improving sourcing efficiency, our solutions help medical facilities around the country boost productivity within the supply chain area, helping staff accomplish more with less,” says Corban. “We wouldn't have a business without Code Authority. They have been an invaluable partner since sitting down at design and as we continue along the journey.”
Due in part to their contributions to the healthcare industry, BroadJump was selected by Modern Healthcare as one of the Best Places to Work in Healthcare in 2016 and 2017 and was ranked #1 in the 2017 Fast Tech 50. They’ve seen revenue growth of an astounding 7,750%! Code Authority matched BroadJump’s pace, helping them grow into one of the most renowned medical companies in the nation.
A Digital Solution Can Be a Catalyst for Growth
Code Authority helped BroadJump reach the level that they are today through a digital transformation. We worked with them to build custom solutions that helped propel their business and we can do the same for you!
Whatever your business needs, our in-house software development team can design and build a custom cloud-based solution. Contact us today for a free consultation!