Thriving Through Financial Pressure by Unlocking Hidden Margins
How AI Digital Twins are Revolutionizing Capital Planning for Health Systems
Health systems continually balance delivering exceptional patient care, maintaining cutting-edge equipment and ensuring financial solvency. While traditional avenues like revenue cycle management and supply chain optimization are common paths for margin recoupment, the strategic management of healthcare technology equipment and capital planning often remains an untapped frontier for unexpected efficiencies.
The healthcare technology management (HTM) capital planning process commonly battles issues of siloed data, multiple departments with disparate systems, competing priorities and pressure to find efficiencies to revolutionize capital planning.
Finding High Impact Points
For many health systems, capital planning for critical equipment is a reactive process. Decisions on when to replace or invest are often based on anecdotal experience or immediate crises, leading to inefficiencies and unforeseen expenses. The optimal age for replacing complex machinery varies widely, demanding meticulous planning to maintain seamless patient support without incurring unnecessary costs.
Pointcore’s Business Operations Command Center leverages TADA’s patented* AI-Enabled Digital Twin technology in an effective asset management system, designed to integrate and analyze data from previously disparate sources in a non-invasive, complementary way
- Internal spreadsheets and limited business intelligence tools, such as Power BI
- Vendor support systems
- Supply chain and procurement systems, such as Strata
- Enterprise resource planning platforms, such as Premier ERP and Workday
- Computerized maintenance management systems (CMMS), such as ServiceNow, Nuvolo and AIMS
Seamlessly weaving these varied datasets into a holistic view has allowed leaders to “see through the fog,” pinpointing hidden inefficiencies and proactively addressing potential “fiscal cliffs” that arise from reactive capital expenditures.
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