As artificial intelligence and machine learning become increasingly available to all sectors of the U.S. economy, healthcare leaders must understand how new technologies can improve patient care, reduce staff workload and ultimately lead to better financial outcomes for healthcare organizations. Through the Arkansas State University (A-State) online Master of Business Administration (MBA) with a Concentration in Healthcare Management program, students gain insight into the latest technologies transforming healthcare, including the data security, privacy and liability considerations that often come with them.
Benefits of Emerging and Evolving Healthcare Technologies
According to a 2023 research article published in the International Journal of Environmental Research and Public Health, the digital transformation of the healthcare industry benefits patient care and society as a whole. Using artificial intelligence (AI) and electronic health record systems to analyze and maintain patient data can improve recommendations for patient well-being and reduce the cost of data management services.
In addition, digital tools also provide new opportunities for remote telehealth services via online video streaming and virtual training for medical students. The Internet of Things (IoT) — the network of connected devices facilitated by internet access and the cloud that stores mountains of data — has also provided numerous opportunities to collect more patient data via wearable sensor systems.
A 2022 research article published in the Swiss journal Healthcare notes that wearable sensors have gained traction over the past decade as a crucial tool for tracking patients’ health problems and status. For many diseases and disabilities, monitoring patient health over time is crucial for prompt medical intervention, researchers found. In turn, wearable technology has revolutionized real-time tracking of patient health and given patients more insight into their health status.
In addition to patient care and clinical decision-making, digital tools have enabled hospitals and healthcare executives to improve operational efficiency. Healthcare leaders can deploy analytics and AI to predict staffing needs, create schedules for operating rooms and automatically reorder supplies in response to real-time inventory data.
Another example is managing patient flow and using artificial intelligence algorithms to analyze which patients are most likely to require placement in intensive care units. If a patient who needs intensive care does not receive it right away, they are more likely to have longer hospital stays and require readmission in the future, leading to higher costs for the hospital and the patient.
Challenges Surrounding Healthcare Digitization and Advancing Health Tech
The wave of healthcare digitization has also brought about new challenges, especially regarding data security and patient privacy. Because patient health records are protected by law, healthcare leaders must be especially mindful of the risk and liability they encounter when collecting massive amounts of patient information as part of their care regimen.
Medical data leaks have become commonplace, with the average cost of a healthcare data breach being $7.1 million, according to a 2022 ICT Express article. The healthcare sector has faced the most ransomware attacks of any industry in the U.S., with hackers taking advantage of software vulnerabilities and email phishing attacks to access patient information and hold it hostage.
With healthcare workers required to enter more information about patients into online systems, incomplete or incorrect data entry and system malfunctions can lead to misdiagnosis, according to law firm Hodes Milman. Finally, healthcare organizations must also address the high cost of technological investment amid a challenging economic environment.
Learn the Complexities of Modern Healthcare Business Operations in A-State’s Online MBA Program
A-State’s online MBA – Healthcare Management program curriculum includes coursework that prepares students to use contemporary business resources and technologies. For example, the Business Analytics course shows aspiring healthcare leaders how to use data to make informed management decisions, as well as the process for optimization, linear programming, simulation, data mining and more. As a result, graduates develop a stronger understanding of the digital tools that will define modern healthcare business operations and their future careers.
Learn more about Arkansas State University’s online Master of Business Administration with a Concentration in Healthcare Management program.