The key takeaway of BCG’s services, however, is the integration of healthcare providers’ resulting insights with their processes to bring about a full business transformation. Taking capabilities a notch higher, the company efficiently identifies high-potential ROI patients for the clients’ care management teams, and accordingly adds the newly developed priority patients’ data in the enrollment process. With a steadfast team of data scientists and software engineers working collaboratively with business leaders and the clients’ technical staff, both internal and outsources, BCG ensures healthcare organizations turn necessary data assets into profits.

Into the AI era

By tapping into the adoption of AI-driven innovations kicking off in the healthcare market, BCG helps clients effectively manage a range of critical healthcare data such as genomics, electronic medical records, and information from monitoring devices. These advances will be the critical drivers for optimum patient outcomes at the lowest possible cost—or simply known as value-based health care (VBHC). With deep-level expertise in AI, BCG draws on the mix of top-notch AI tools and virtual agents to provide remote prevention and care outside the doctor’s office or local hospitals. The company additionally performs diagnostic support to meticulously identify breast cancer, brain injury, and heart diseases in patients using FDA-approved medical devices. But the application of AI does not stop there.

BCG goes the extra mile in simplifying the analysis of retinal images and diagnosis of retinopathy with improved patient outcomes with advanced AI tools and algorithms. Robustness of patient care aside, healthcare professionals can use these AI tools to construct individualized VBHC-supported treatment plans to cut down operational costs, and risk of medical errors.

BCG also leverages AI to bolster a significant stream in the biopharma space—drug discovery and development—by screening relevant clinical data and results to help companies analyze, develop, and launch promising drugs in the market. “Although AI is paramount to accelerating trial design and recruitment of a drug, it will certainly not be a silver bullet against the declining R&D activities across industry,” says Davis. The healthcare organizations need to manage their data infrastructures and capitalize their industry partnerships to make considerable headway in the drug discovery and development space.

Organize for Impact

As healthcare companies tend to get caught up in predicaments of organizing their infrastructures and capabilities to maximize profits and deliver value to their customers, BCG offers the perfect solution. With a blend of natural language processes (NLP) and advanced data analytics implemented as a robust management model, BCG assists clients to efficiently organize their data infrastructures, and automate writing and reviewing of healthcare records. This model induces major implications for healthcare providers and payers while effectively streamlining their operations and global supply chains. The model involves a central management group housing the clients’ team members located in various business units and functions, making it easy to share the best practices and establish an insulated culture for analytics talent. BCG’s model accommodates the diversity of business unit tasks via adept scaling and specialization of analytic capabilities.

These capabilities are meticulously organized under the control of a C-level executive, typically the CFO or CIO, with dedicated resources, ensuring priority treatment of analytics and integrated insights to achieve desirable results. According to Davis, “Our management model has immensely benefitted numerous healthcare payers with distributed analytic capabilities across their organizations.” BCG management model ring-fences a centralized advanced-analytics team to drive scalability, efficiency, and reliability throughout a patient care process. In today’s modern work environments characterized by complex tasks and sometimes conflicting performance requirements, BCG embeds the principle of ‘smart simplicity’ in an effort to maximize performance and encourage autonomy. This empowers the clients with clear-cut goals, optimal controls, and the freedom to exercise their judgment during an operation while eradicating unnecessary tasks.

Going Beyond Autonomy

However, no individual or group will possess all the answers in a complex work environment, and autonomy alone does not suffice. Set against that backdrop, BCG binds different business units together within a healthcare organization and deploys as a service of coordination and cooperation with each other. “Cooperation and coordination may sound like it delivers self-evident value to an enterprise, but in reality, it is a complex social process that is hard to create and easy to destroy,” Davis states. The company effectively delivers a solution to this predicament in the form of designing an organizational objective and a rational operational strategy for the workforce. BCG’s principle of smart simplicity seamlessly blends autonomy, cooperation, and coordination to adequately manage complex tasks and eliminate complicatedness between different business units.