{"id":12582,"date":"2014-11-26T08:20:24","date_gmt":"2014-11-26T13:20:24","guid":{"rendered":"http:\/\/n2value.com\/blog\/?p=12582"},"modified":"2014-11-10T09:43:00","modified_gmt":"2014-11-10T14:43:00","slug":"skeptical-about-competing-algorithms","status":"publish","type":"post","link":"https:\/\/n2value.com\/blog\/skeptical-about-competing-algorithms\/","title":{"rendered":"Skeptical about competing algorithms?"},"content":{"rendered":"<p>Someone commented to me that the concept of <a title=\"Some thoughts on Revenue Cycle Management, predictive analytics, and competing algorithms\" href=\"http:\/\/n2value.com\/blog\/some-thoughts-on-revenue-cycle-management-predictive-analytics-and-competing-algorithms\/\">competing algorithms was very science-fictiony<\/a> and hard to take at face value outside of the specific application of high frequency trading on Wall Street. \u00a0I can understand how that could be argued, at first glance.<\/p>\n<p>However, consider that <b>systems are algorithms<\/b> (you may want to re-read <a href=\"http:\/\/wp.me\/p4mtfP-3gT\">Part 6 of the What Medicine can learn from Wall Street series<\/a>). \u00a0We have entire systems (in some cases, departments) set up in medicine to handle the process of insurance billing and accounts receivable. \u00a0Just when our billing departments seem to get very good at running claims, the insurers implement a new system or rule set which increases our denials. \u00a0Our billers then adapt to that change to return to their earlier baseline of low denials.<\/p>\n<p>Are you still sure that there are no competing algorithms in healthcare? \u00a0They are hard-coded in people and processes not soft-coded in algorithms &amp; software.<\/p>\n<p>If you are still not sure, consider legacy retailers who are selling commodity goods. \u00a0If everyone is selling the same item at the same price, you can only beat your competition by successful internal processes that give you increased profitability over your competitors, allowing you to out-compete them. \u00a0You win because you have better algorithms.<\/p>\n<p><b>Systems are algorithms. \u00a0And algorithms compete.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Someone commented to me that the concept of competing algorithms was very science-fictiony and hard to take at face value outside of the specific application of high frequency trading on Wall Street. \u00a0I can understand how that could be argued, at first glance. However, consider that systems are algorithms (you may want to re-read Part [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"New N2value post: Skeptical about competing algorithms? http:\/\/wp.me\/p4mtfP-3gW #hitsm","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false},"version":2}},"categories":[2,3,6,5],"tags":[],"class_list":["post-12582","post","type-post","status-publish","format-standard","hentry","category-healthcare","category-physician-executives","category-process-analytics","category-workflow"],"jetpack_publicize_connections":[],"aioseo_notices":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p4mtfP-3gW","jetpack_sharing_enabled":true,"jetpack_likes_enabled":true,"_links":{"self":[{"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/posts\/12582","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/comments?post=12582"}],"version-history":[{"count":2,"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/posts\/12582\/revisions"}],"predecessor-version":[{"id":12584,"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/posts\/12582\/revisions\/12584"}],"wp:attachment":[{"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/media?parent=12582"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/categories?post=12582"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/n2value.com\/blog\/wp-json\/wp\/v2\/tags?post=12582"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}