The Organisation for Economic Co-operation and Development (OECD) published the 2019 Health Statistics, which showed that healthcare expenditures in the U.S.A. are significantly greater than in other developed countries. According to a 2018 Harvard study, the United States spends the most in healthcare relative to its GDP among the 11 countries analyzed. The U.S. per capita healthcare spending was nearly two times that of other developed countries.
Greater costs aren’t really bad if they yield better patient outcomes. However, that is not the case according to the OECD statistics. The United States had poor patient outcomes, even with high expenditures on healthcare. Lowering the cost of healthcare while improving patient outcomes is a big challenge.
The Trump Administration is determined to lower healthcare costs by means of HHS rulings and executive orders. In November 2018, the government issued the executive order Improving Price and Quality Transparency in American Healthcare to promote healthcare price transparency and boost competition among hospitals and insurance providers and decrease healthcare expenditures.
Another important area where expenditures may be reduced is by avoiding wastage in healthcare. A lot of money is wasted because of inefficiency, for example, the extended use of obsolete communications systems.
The healthcare sector continues to be greatly dependent on communications technology since the 1970s. There are new developments and communications tools, however quite often when purchasing new communications technology, healthcare organizations are unable to attain the complete benefits. Consequently, problems in communications continue.
Communication issues are costing the healthcare sector a lot, which is shouldered by patients. Research reveals communication issues cost one 500-bed hospital approximately $4 million annually. The failure in communication is approximated to be a big factor in 70% of medical error fatalities, based on a study printed in the Journal of Medical Internet Research.
TigerConnect is one company that helps to minimize healthcare costs. TigerConnect has created a sophisticated communication and collaboration solution which enables all care team members to connect and collaborate fast, efficiently, and appropriately. The platform speeds up productivity and reduces wastage, which enables healthcare providers to lessen healthcare costs. The solution has likewise been shown to improve patient outcomes.
The platform has been proven to decrease wait times in emergency units, lower the likelihood of medical errors, lessen the duration of hospital stays, and the platform helps boost staff morale, particularly among doctors. The platform removes phone tag enabling all care team members to access the data needed to make judgments and assures proper patient handoffs so that medical errors do not happen.
The TigerConnect team is determined to resolve prevalent challenges in healthcare communication and create solutions to satisfy the need of healthcare companies. The platform has become popular with healthcare companies and has grown tremendously.
The healthcare communications and collaboration platform of TigerConnect solution is extensively used in the U.S. The company added over 600 new clients in 2019, which include 100 new enterprise clients like Geisinger, Penn State Health, NCH Healthcare System, University of Maryland Medical System, Cooper University Health Care, Einstein Medical Center, and St. Luke’s University Health Network. The platform is being used by over 6,000 healthcare organizations today.
TigerConnect also increased its workforce because of the increasing demand. More than 50 people joined as staff of the company in 2019. New leaders were appointed including Chief Technology Officer Tim Goodwin (former Vacasa CTO), VP of People Allie Hanegan (former Expedia executive) and SVP of Client Success Sarah Shillington (former McKesson consultant).
TigerConnect is currently trying to continue its growth in 2020 with a number of initiatives in the works. Before HIMSS20, TigerConnect is going to start a number of important product and partner projects; strongly market its solution to new clients; and expand its footprint with its present customer base. TigerConnect additionally stated that it is creating a client advisory group and will take advantage of supplemental forums to get responses from users to determine areas for further improvement.