How XSOLIS is Revolutionizing the Healthcare Workforce and Simplifying Health Systems
by XSOLIS Insights, on Jun 15, 2023 8:45:48 AM
The Becker's Hospital Review 13th Annual Meeting held in April 2023 brought together healthcare leaders from across the nation to discuss pressing issues and emerging trends in the industry. For four days in Chicago, more than 430 speakers engaged in 11 tracks of discussions, totaling more than 6,800 minutes of conversation about the industry’s toughest problems and how to solve them. Among the key take-away themes identified by Becker’s were the urgent need for solutions to address healthcare workforce shortages and the growing demand for simplicity within health systems. How artificial intelligence (AI) is used in healthcare could play a key role in solving both of these issues – and could even save up to $360 billion a year in the U.S. if AI is adopted more broadly in healthcare, according to a McKinsey report. XSOLIS, a Nashville-based company, is squarely addressing these two critical themes through its AI-driven technology and award-winning services:
Solving Theme 1: Healthcare Workforce Shortages
The shortage of healthcare professionals, including physicians and nurses, has been a growing concern for years. The COVID-19 pandemic has further accelerated the exodus of workers from the industry, exacerbating these shortages. According to projections by the Association of American Medical Colleges, the United States may face a shortage of 37,800 to 124,000 physicians by 2034. Additionally, McKinsey estimates a potential shortage of 200,000 to 450,000 nurses by 2025.
XSOLIS recognizes the urgency of addressing these shortages and the impact they have on healthcare delivery. By leveraging their AI-driven technology platform, CORTEX®, XSOLIS streamlines processes and eliminates administrative work, enabling healthcare professionals to focus on patient care. CORTEX® utilizes real-time predictive analytics to assign an objective medical necessity score and assess the anticipated level of care for every patient – presented to users as a proprietary Care Level Score™. By automating these tasks, XSOLIS reduces the administrative burden on clinicians and empowers them to work more efficiently – a classic use case for how applying AI in the healthcare industry can alleviate operational challenges caused by the workforce shortage.
Furthermore, XSOLIS' connected payer-provider network fosters collaboration between and among healthcare organizations. By breaking down silos and facilitating data-driven decision-making, XSOLIS enhances communication among providers and payers with its real-time, shared data views – completely unique among other vendors in the revenue cycle, utilization review and case management sectors. This collaboration is vital in optimizing the use of available healthcare professionals, while solving for unnecessary payer-provider friction and missed revenue opportunities that come from the historical misalignment between the two groups.
Solving Theme 2: Health Systems' Craving for Simplicity
Health system leaders are increasingly seeking simplicity in their operations, technology, and investments. Financial constraints and workforce shortages have intensified the need for efficient processes and streamlined workflows. XSOLIS understands this desire for simplicity and aims to simplify healthcare operations through its innovative solutions – it’s literally why the company was formed over a decade ago. It was also the first company within the utilization review sector to apply AI, with massive amounts of data modeled on unique use cases over the course of 10 years – two billion predictions’ worth, to be exact! So XSOLIS’ technology is more advanced and prescriptive to solve unique challenges while streamlining and often eliminating unnecessary administrative tasks associated with case management, utilization review, and mid-revenue cycle functions for hospitals and health systems.
This helps providers and payers align from the very beginning on patient status, Medical Necessity and Length of Stay timelines, while improving clinical documentation to mitigate preventable denials. When denials do occur, XSOLIS uses data to objectively work through to resolution – leveraging the shared data views for providers and payers to work with, instead of against, one another.
Data management is therefore another area where XSOLIS brings relief to simplify processes. The company recognizes that disparate data reporting can be operationally burdensome, hindering performance and increasing compliance risk for its customers. XSOLIS' CORTEX® platform helps standardize data reporting across various contracts and measurements, ensuring consistent benchmarks, and takes them to the next level with its predictive analytics while empowering collaboration between user groups, whether internally at a hospital system for example, or externally, between health systems and their health plan partners. This eliminates the confusion caused by inconsistent definitions and enables more accurate measurement of Key Performance Indicators (KPIs).
Moreover, XSOLIS reduces the administrative burden of quality reporting, a time-consuming task that adds to the costs for health systems. By automating data extraction and analysis, XSOLIS' platform enables clinical staff to focus on patient care instead of manual reporting. This not only improves efficiency but also frees up resources that can be redirected to more critical areas within the health system.
In an era of healthcare workforce shortages and the demand for simplicity, XSOLIS' innovative solutions provide a ray of hope. By optimizing the use of available healthcare professionals and simplifying operations, XSOLIS is creating a frictionless healthcare system – playing a vital role in transforming healthcare into a desirable workplace and delivering high-quality care to patients.
If you’re interested in learning more, contact us to request a customized product demonstration and we can connect you with other leaders in the industry who have joined the movement towards smarter healthcare.