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FALL 2025 Innovators Summit
2025-12-02 - 2025-12-04    
10:45 am
NYC
What To Expect FALL 2025 Innovators Summit Panel discussions and keynote speeches from prominent digital health leaders Top-tier exhibitors showcasing cutting-edge digital health solutions, innovations, [...]
Events on 2025-12-02
Articles

3 Ways Medical Providers Can Reduce Costs

We live in a world of elaborate technologies that are bringing about many advances in healthcare. Yet we still experience errors and other issues that lead to a loss of revenue. A study that found that 30% of malpractice cases between 2009-2013 were a direct result of this lack of communication. This can occur due to inaccurate medical reporting and lack of proper updating of medical records, or improper communication between patient and doctor. Ultimately these issues costs the patient more time and resources as they struggle to find treatment for their illness. The importance of making use of technology for increased patient safety and less medical errors, thus reducing the costs of malpractice lawsuits, should be a priority in healthcare.

Creating Transparency

A concerning statistic found that 81% of consumers are dissatisfied when it comes to their healthcare experience. What’s worse is that those patients who are satisfied are those who interact with their healthcare system the least. Customer satisfaction is important in any business but it is even more so important in the world of healthcare management, and just like with any other business, a key to happiness is transparency. Transparency allows for effective communication between patient and medical provider. For example, allowing patients easy access to electronic medical records (EMRs) will empower the patient to make proper medical decisions.

Only 25% of U.S. patients state that they trust their medical professionals, which is a drastic 75% decrease from 1966. Transparency not only accuracy even further verified, it also ensures that patients are connecting with the right services. Studies show that among individuals with chronic illnesses who visit the ER, an alarming total of 30% are potentially unnecessary. These unnecessary visits for ailments that can be treated by a primary care doctor or specialist results in an additional 8.3 billion dollars each year.

Health Clouds and Real-Time Updates

A great way to allow patients and other providers access to EMRs is by making use of health clouds. A single-access health cloud will offer providers with information that patients may otherwise forget about. This will help prevent medical mistakes and malpractice issues. In fact,  PatientPop reports that 59% of Generation Y patients state that they would switch doctors for better online access and features. Therefore, it is vital for providers to have a patient-centered platform that allows practitioners to communicate effectively, allow for transparency, and create a mutual accountability between patient and provider. Unfortunately, not all providers have systems with these functionalities.

More important than a user-friendly health cloud, medical records need to be able to be updated in real-time, by means such as oracle cdc — a technology that provides real-time updates to systems and tracks changes as they occur.

Communication is Key

It’s easy for providers to experience burnout and just go through the motions as carefully as possible. No matter how careful a doctor or provider may be, there are still questions and concerns that need to be addressed, even when they seem unlikely. Patients at times may feel hesitant to share certain symptoms and it’s this very fact that creates misdiagnosed conditions or allows for conditions to go undiagnosed. This is especially true with reproductive symptoms, which can be indicative of a serious illness, such as cancer. Create a comfortable environment and allow patients to freely express themselves and their concerns and communicate yours as well. Just like with any business, returning customers do so when they have a positive experience.

Regardless of the provider’s particular approach, by including these aspects they will see a reduction in medical errors, increase patient satisfaction, and thus reduce costs and increase revenue. The solution to multiple problems within the industry, such as misdiagnosis, malpractice cases, and additional costs, is by making patients the focus of each encounter. This begins in the doctor’s office, over the phone, through administrative work, and just as importantly the time in between appointments. By doing so, providers can create a happier, more satisfied consumer with offering transparency, access to medical records, clear communication, and a personalized one-on-one experience.