- One Mnet Health introduces Cancellation Prediction, an AI-powered solution to forecast and prevent surgical case cancellations.
- Patient cancellations pose significant challenges for healthcare providers, impacting schedules, productivity, patient care, and revenue.
- Cancellation Prediction™ utilizes AI and machine learning to proactively identify cases at risk of cancellation, categorizing them by schedule, risk level, and surgeon.
- One Mnet Health’s rich data assets enable personalized insights into patient-specific risk factors, facilitating tailored intervention strategies.
- The solution categorizes cases into high, medium, and low-risk tiers, enabling targeted focus and optimized resource allocation.
- Cancellation Prediction™ promises to revolutionize healthcare operations by reducing cancellations, enhancing efficiency, and minimizing revenue loss.
Main AI News:
In a groundbreaking move, One Mnet Health, a frontrunner in pioneering clinical software and financial services for ambulatory surgery centers (ASC), hospitals, and other healthcare providers, has unveiled a cutting-edge solution aimed at empowering providers to foresee and mitigate surgical case cancellations.
The menace of patient cancellations looms large over healthcare providers nationwide, wreaking havoc on schedules, productivity, patient care, and ultimately, revenue streams. With over 20% of cases scheduled in ambulatory surgery centers resulting in cancellations on average, the financial toll is staggering, with each unfilled slot potentially translating to a loss of $3,000 or more. Even marginal reductions in cancellation rates or improvements in backfill success could yield substantial savings, reaching six figures for most ASCs.
One Mnet Health emerges as a trailblazer in equipping surgeons to enhance the efficiency of their operating rooms by pioneering distinctive capabilities that revolutionize the approach to patient cancellations. Their groundbreaking product, Cancellation Prediction™, harnesses the prowess of AI and machine learning technologies alongside a proprietary algorithm to proactively identify cases at risk of cancellation, categorizing them by schedule, risk level, and surgeon for streamlined tracking and management by nursing teams.
What sets One Mnet Health apart in addressing this challenge is their unparalleled access to extensive data assets, encompassing millions of records distilled into a potent normalized dataset that fuels predictive analytics. By seamlessly integrating clinical, financial, and operational data, One Mnet Health’s machine learning algorithm not only forecasts cancellations with over 85% accuracy but also furnishes personalized insights on how facilities can tailor support for individual patients to avert cancellations altogether.
This wealth of data underpins One Mnet Health’s proprietary algorithm, enabling it to scrutinize over 40 distinct patient attributes, facilitating healthcare teams in swiftly grasping and visualizing the specific risk factors pertinent to each case. Gone are the days of assessing cancellation risk solely based on procedure; now, care teams can delve into correlations spanning barriers to access, financial concerns, social determinants of health, and more.
Armed with granular insights into the primary drivers of cancellations at a patient level, providers can devise personalized intervention strategies for each potential cancellation, enabling intelligent outreach and engagement with patients through tailored messages or recommended discussion topics during calls. This level of granularity empowers providers to preempt cancellations or determine the necessity for backfilling with unprecedented precision.
Traditionally, facilities adhere to standard pre-op protocols that treat each patient and case uniformly, overlooking specific patient needs and underlying risks. This results in unnecessary time expenditure on cases with minimal cancellation likelihood.
Enter Cancellation Prediction™: a game-changer that empowers care teams to categorize cases into high, medium, and low-risk tiers, enabling targeted focus on cases with the highest jeopardy and tightest timelines. The outcomes are manifold: optimized utilization of operating room block time, streamlined collaboration among staff to mitigate risks, reduced cancellations, enhanced capacity to manage case volumes efficiently, and a substantial reduction in revenue loss.
“We are delighted to introduce this paradigm-shifting solution that tackles one of the most pressing challenges confronting healthcare providers today,” remarked Derek Smith, CEO of One Mnet Health. “By harnessing the capabilities of AI and machine learning, Cancellation Prediction™ is charting a new course for providers in addressing case cancellations.“
Conclusion:
One Mnet Health’s innovative solution signals a significant shift in how healthcare providers address the challenge of surgical case cancellations. By leveraging AI and machine learning technologies to proactively identify and mitigate cancellation risks, providers can streamline operations, optimize resource allocation, and enhance patient care delivery. This not only improves operational efficiency but also holds the potential to drive substantial cost savings and revenue growth for healthcare facilities, thereby shaping a more resilient and sustainable healthcare market landscape.
