Managing Digital Transformation in the Healthcare Industry

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As the world becomes more digitalised, it is only likely that companies will follow suit to satisfy consumer expectations. For the healthcare industry, big data, advanced analytics, sensor-enabled devices, and 3-D printing are all technologies that have the ability to impact the way healthcare companies develop products and provide services.

According to research by McKinsey & Company, the healthcare industry falls far behind in their digitisation efforts. Therefore, to meet the rising customer expectations, healthcare companies are integrating the latest technologies into existing business models and IT architectures to improve services. As well as this, with more new, non-traditional entrants making their way into the industry, it is important for healthcare companies to increase their digitisation efforts to compete.

The healthcare industry has gone through major transformations in the last few years with digital tools and technologies disrupting typical processes, customer interactions and operations. These days, healthcare companies are more focused on using technology to improve their interactions with patients, reduce costs, streamline operations, and stay updated with the changing industry regulations. However, digital transformation initiatives are usually complex and the many inter-dependencies of the organisation need to be understood to increase the likelihood of success. Thus, it is important that healthcare companies and services consider modernising their IT foundations by moving to digital platforms such as cloud servers or software-as-a-service products. An example of such platform is a business management system.

A business management system has the ability to simulate future operating environments so change can be understood holistically and on a broad scale. It can also show the connections between the processes, responsibilities, control points, and document management. In addition, by providing a comprehensive overview of risk management, compliance and operating procedures, it would ensure companies comply with the changing industry regulations. A business management system also allows every part of the business to be interconnected, while coordinating information, connecting risks, controls and processes, and integrating all of this into one model of how things work.

Nowadays, more healthcare companies are exploring methods to better optimise their processes by reducing physical data storage by migrating their documents to digital platforms. A business management system can achieve this by structuring, updating, and maintaining a consistent and accessible body of knowledge. It can also design business processes, requirements and training material to assist with organisations' business transformations.

For healthcare companies to have successful digital transformation, a new approach to management is required. Companies need to start embracing new developments and technologies to compete with the digital disruption in the industry. Adopting a business management system is a good start to help companies shift from the manual, paper-based models of working to a more agile and integrated view of an organisation. Not only will a business management system increase the reliability and consistency of information, it will also ensure that every part of the organisation is interconnected.