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The traditional business model involves hospitals purchasing patient monitoring systems and maintaining, upgrading, and training users. The pace of innovation in patient monitoring technology creates a substantial burden for hospitals to keep up. With time, disconnected systems often result—in different monitors, vendors, and software revision levels—requiring constant attention to maintain.
Fremont, CA: Rapid technological advancements pose a significant challenge for healthcare leaders. At the same time, disjointed systems and processes divert staff attention from patient care. By enhancing data integration and technology, as-a-service models offer healthcare providers access to the latest capabilities, improving patient and staff experience. In the healthcare sector, there is a shift from purchasing medical equipment, software, and infrastructure separately to seeking integrated solutions that address their requirements. Additionally, they seek service-based solutions to support their clinical, operational, and financial objectives without the added burden of equipment management.
It is nowhere more evident than in patient monitoring. Patient monitoring systems are the second most impactful IT investment in healthcare (behind EMRs). In light of the COVID-19 pandemic, increased flexibility and scalability are essential. Monitoring as a service enables this transformation. The following are some reasons healthcare leaders are considering it:
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Streamlining patient monitoring technology
The traditional business model involves hospitals purchasing patient monitoring systems and maintaining, upgrading, and training users. The pace of innovation in patient monitoring technology creates a substantial burden for hospitals to keep up. With time, disconnected systems often result—in different monitors, vendors, and software revision levels—requiring constant attention to maintain.
Monitoring as a service reduces this burden. With new patient monitoring systems and healthcare informatics solutions, healthcare providers can standardize patient monitoring across all settings and acuities. A flexible level of service and support can also include ongoing software updates, system maintenance, and security patching. It is also much easier to train new and existing employees on using monitoring technology when interfaces and workflows are standard.
Healthcare leaders can move from a reactive to a proactive mode, allowing them to shape and control how technology is used to improve patient care.
Expenses based on volume
Monitoring as a service also has significant financial benefits. For many hospitals, budgets are outpacing technology changes, and the cost of replacing or updating patient monitoring systems can be substantial.
A second challenge is that healthcare leaders often lack the data to understand what they're paying for, what value it provides, or what staff use (and don't use). In this challenging economic climate, healthcare leaders seek alternatives to keeping their systems up to date.
Healthcare leaders no longer worry about financing a significant upfront capital expenditure for a clinical system. Instead, they pay a predictable fee based on patient volume each month. With an as-a-service model, they can gain greater insight into how technology is used by staff and how it impacts patient care.
Adaptability to fluctuating patient needs
From the COVID-19 pandemic, hospitals have learned the need for increased flexibility in meeting unpredictable fluctuations in patient demand. Providers can quickly scale up or down patient monitoring capabilities with as-a-service models.
After the pandemic, hospitals will continue to benefit from this adaptability. As a result, they can respond more quickly to a local traumatic event. By utilizing as-a-service models, hospitals can scale solutions across units, departments, and networks more easily - enabling them to be available whenever and wherever needed.
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