The opportunity for health systems and hospitals to leverage AI-powered technology to improve operational efficiency and financial sustainability is enormous.
According to a 2023 American Hospital Association Report, labor costs, which on average account for about half of hospitals’ total budget, increased 20.8% between 2019 and 2022 due to efforts to fill workforce gaps and meet patient demand. Capturing AI’s potential can enable hospitals and health systems to reduce these costs, optimize the existing workforce and support financial health through better use of assets. For example, by deploying a combination of AI, automation and change management, health systems can gain the ability to perform 30-50 more cases per existing OR per year and yield $20,000 and $10,000 more revenue respectively per infusion chair and inpatient bed annually.
The insights offered by predictive AI technology help health system staff make informed decisions to optimize efficiency and capacity, such as prioritizing patient discharges to clear potential bottlenecks and accommodate predicted upcoming admissions. Automation capabilities can streamline communication and administration tasks, freeing hundreds of hours of staff’s time. The powerful support of this technology, built on hygienic data and combined with strategic change management that accounts for the needs and realities of organizations’ people and processes, creates a “Magic Equation” that yields significant operational and financial results.
December 2023 virtual summit from LeanTaaS explores real-world results of the “Magic Equation” across the health system
The 5,000 attendees at an upcoming virtual summit will explore these opportunities and results in detail, in sessions led by a diverse group of health system leaders who have already leveraged the “Magic Equation” to achieve operational excellence and ROI. The summit will examine applications of predictive AI and automation technology in health systems, recent results such as an OR achieving 63% utilization of block time and a health system increasing inpatient bed capacity by 6.8%, and the exciting new uses of generative AI to inform, unite, and empower key stakeholders across the organizations.
AI technology expert LeanTaaS will host the event, the Winter 2023 Transform Hospital Operations Virtual Summit, in partnership with Becker’s Healthcare on Dec. 5-6. This summit will have a special focus on challenges and solutions related to perioperative and inpatient areas. A separate event focused on delivering services related to cancer care, Transform Infusion Operations Virtual Summit will take place on Dec. 6.
Highlights of the sixth biannual Transform Virtual Hospital Operations Summit
Health systems represented at Transform include Baptist Health Jacksonville, Hartford HealthCare, Kaleida Healthcare, Lee Health, Sarasota Memorial Health Care System, and UCHealth. Leaders from these organizations will share success stories on how they transformed operations and finances with AI, automation, and change management, and share insights for health systems looking to do the same.
“In today’s healthcare environment, hospitals and health systems need to embrace disruptive technology to empower staff, expand access to care, and increase revenue — sustainably and at scale,” said Mohan Giridharadas, LeanTaaS founder and CEO. “Only AI, machine learning, and predictive analytics are powerful enough to deliver the right recommendations to the right people at the right time. We’re very excited to be hosting our sixth Transform Hospital Operations Summit to showcase so many forward-thinking healthcare leaders who are achieving incredible outcomes and helping short-staffed teams do their jobs better.”
This event, the latest in a series LeanTaaS began hosting in summer 2021, will showcase the digital transformations health systems have made in the years following the COVID pandemic. Using their learnings from navigating capacity crises of the recent past, health systems are now proactively addressing current industry challenges to foster growth and innovation for the future. Sessions will focus on how these challenges have manifested in individual health systems, and the approaches they took to successfully meet them.
Further standout results, all made without building or buying additional resources, include ORs accommodating 45% more robotic surgeries and 7% more surgical volume, as well as a health system reducing length of stay by 13 hours during a historically high inpatient census. An infusion center, within six months, also grew daily appointment volumes by 23% and reduced wait times at peak hours by 28%.
These results show increased ability to utilize existing resources, streamline processes, and empower staff. As workforce shortages as well as tight financial margins remain key concerns for health systems, learning to deploy AI technology effectively to improve operations is not only exciting, but critical for health systems to grow and thrive.
Transform registration is free for all attendees. View the agenda for the Transform Hospital Operations Virtual Summit here, and the Transform Infusion Operations Summit here.
LeanTaaS provides AI-powered software solutions combined with lean principles to transform hospital operations and increase patient access for over 180+ health systems. LeanTaaS’ three solutions, iQueue for Operating Rooms, iQueue for Infusion Centers, and iQueue for Inpatient Flow, power over 800+ hospitals and centers across 5,100 ORs, 13,500 infusion chairs, and 19,500 inpatient beds.