By Andrew Boland – Director of National Healthcare Financing, Popular Bank

For many of us, 2023 became the year when we got to experience the practical power of Artificial Intelligence (AI) firsthand. From interacting with customer service chat bots to using applications such as ChatGPT, Bard and Copilot, we’ve seen how useful and rapidly changing this technology can be.

Recently, we have also seen some global regulatory movement around AI. In May 2024, the European Union (EU) passed the world’s first comprehensive legal framework for AI. In the US, there is currently no federal AI legislation, but in October 2023, the White House issued an Executive Order that established new standards for AI safety and security. However, overall, AI in the US remains largely unregulated, and companies must exercise extra caution in its implementation.

Skilled Nursing is one of the most highly regulated industries, with many of its programs governed by the U.S. Department of Health and Centers for Medicare and Medicaid Services. While AI activation may still be in the early stages, there are ways that skilled nursing facilities can take advantage of the new technologies to better capture and analyze health data, keep track of patient progress and optimize staffing.

1. Enhancing patient experience

Generative AI’s ability to respond to prompts and analyze data are some of its best-known features. Facilities can leverage that ability in their communication platforms and messaging apps to provide updates to patients, family members and healthcare providers. Staffing shortages can put a strain on the facility’s ability to be in constant contact with each patient’s family and medical team. With the help of AI in healthcare, it can be done efficiently and help ensure optimal patient care.

Some of our customers have implemented an AI-driven intake process. Simplifying the intake process by making it more interactive, conversational, and engaging can enhance customer experience. Patients tend to provide better responses and skip fewer questions which results in a more accurate data set. AI also helps minimize human errors during intake, saving time on future corrections and inconsistencies across patient information platforms.

2. Improving quality of care

Integrating AI into monitoring blood pressure, heart rate, oxygen levels and other vitals can help providers get a more accurate real-time health picture for each patient. Analyzing present health data against the patient’s existing historical data can assist in developing personalized treatment plans, taking into account individual needs and preferences as well as any previously recorded adverse reactions.

For patients who are unable to visit the facility regularly, AI can provide remote patient monitoring, allowing the healthcare team to have access to real-time data and to track the progress of the patient.

We’ve also seen customers use AI to schedule and keep track of administering medication, especially useful in larger facilities serving a higher number of patients. Such technology can track side effects and assess efficacy of each treatment plan, providing data to help improve patient outcomes.   

3. Optimizing staff management

Facility staffing shortages are a known pain point of the industry, especially in more remote and rural areas. Leveraging AI can help optimize staff schedules to improve efficiency and reduce workload without impacting the quality of care in the nursing practice.

One of the more frequent AI use cases we have seen from our customers has been focused on staff training and education. The technology can deliver personalized programs to help upskill and develop the staff to ensure compliance and optimal quality of care at your facility.

Getting ready for artificial intelligence in nursing.

AI and other modern technologies are likely to play a role in skilled nursing. As facilities explore options to improve operational efficiency, recruit, train, and retain staff, and continue to help patients, AI can help expedite routine tasks and provide a more comprehensive data analysis.

As more regulation around AI materializes, it is also important for skilled nursing facilities to have an AI strategy in place. While technology cannot replace face-to-face human interaction and, for now, AI lacks the nuances necessary to build a truly holistic care plan, this modern technology is expected to transform many industries, including healthcare.

How Popular Bank’s Healthcare Financing can help you leverage AI.

Popular Bank offers healthcare banking solutions that can help nursing practices finance equipment and staff, and AI systems. We work with your healthcare institution to offer customized solutions to help your nursing practice grow, improve patient care, and be technology future-proofed.