Vinit Singh’s Post

According to a new survey conducted by Bain and Klas Research, healthcare providers are boosting their investments in IT and software. Explore what providers have to say about technological advancements moving forward in the healthcare sector. https://lnkd.in/gH9bAJ2E

A recent Dive Brief from Healthcare Dive’s Emily Olsen: ➡ Healthcare providers are boosting their investments in IT and software, with nearly 80% of executives reporting they materially increased spending over the past year, according to a new survey from consultancies Bain & Company and KLAS Research. Around three-quarters of executives expect growth in technology and software spending to continue over the next year.   ➡ Thirty-five percent of leaders said technological advancements and the availability of new tools were top drivers for new IT investments, while 16% cited labor shortages and 8% reported incentives driven by other financial pressures. ➡ Revenue cycle management and clinical workflow optimization tools are top priorities for spending as providers lean on technologies that offer clear and immediate returns on investment. Read the full brief here: https://bit.ly/3rSQjua | #ClinicalWorkflow #WorkflowOptimization #TechInvestments #HealthTech

Recent survey results indicate healthcare providers are boosting their investments in #HealthIT. According to the data, 80% of executives reported increased spending over the past year. Further, around three questers of executives expect growth in technology and software spending to continue over the next year. As providers expand health IT spending, it’s noted that respondents would prefer simplicity and fewer vendors, 89% citing they’d look to their health records vendor first. Learn more about the survey results and how providers aim to incorporate technology into their strategies in Healthcare Dive: https://bit.ly/3ZpKPTY #TechInvestment

The 2023 Healthcare IT Provider Report by Bain & Company, in collaboration with KLAS Research, highlights the growing importance of technology, including artificial intelligence, within health systems' strategic goals. A few key takeaways from the survey of over 200 healthcare executives: 🟣 Around 70% of health system respondents indicate that they believe AI will have a greater impact on their organization going forward 🟣 Due to financial challenges and shrinking margins, investments in areas with clear, near-term return on investment (ROI), such as revenue cycle management (RCM) and clinical workflow optimization software, are now high on the agenda. 🟣 Nearly 80% of respondents in the survey increased IT and software spending materially over the past year, spurred by emerging technologies, labor shortages, and cost pressures. Read more here: https://lnkd.in/gh4jJ4Fy

Clinical workflow optimization enabled by AI is here to stay and will allow hospital leadership to restructure and rebalance our shrinking clinical workforce with the ever growing patient demand. See how Clew Medical https://clewmed.com is quickly improving the collaboration between virtual and bedside care teams by predicting patient degradation and helping prioritize patient care.

The 2023 Healthcare IT Provider Report by Bain & Company, in collaboration with KLAS Research, highlights the growing importance of technology, including artificial intelligence, within health systems' strategic goals. A few key takeaways from the survey of over 200 healthcare executives: 🟣 Around 70% of health system respondents indicate that they believe AI will have a greater impact on their organization going forward, moving AI strategies from the IT department to the C-suite. 🟣 Due to financial challenges and shrinking margins, investments in areas with clear, near-term return on investment (ROI), such as revenue cycle management (RCM) and clinical workflow optimization software, are now high on the agenda. 🟣 Nearly 80% of respondents in the survey increased IT and software spending materially over the past year, spurred by emerging technologies, labor shortages, and cost pressures. Read more here: https://lnkd.in/gh4jJ4Fy

This informative report by Sage Growth Partners highlights the strategic priorities of healthcare C-suite executives: growing revenue, addressing workforce shortages, utilizing digital health IT tools, and integrating AI with clinical workflows to address challenges within the healthcare ecosystem. #Biotechtrends #csuite #perspectivegrp https://lnkd.in/gR6yFVBr

Interoperability plays a pivotal role, serving as the bridge that connects disparate systems and enables them to communicate effectively. Do you agree? 💡 Interoperability in healthcare refers to the ability of different healthcare IT systems and applications to exchange, interpret, and use data seamlessly, regardless of the vendor, platform, or technology used. At its core, interoperability facilitates the flow of information between systems, enabling healthcare providers to access a comprehensive view of patient data, make informed decisions, and coordinate care across multiple settings and disciplines. 3 main Benefits of interoperability: - Enhanced patient care
Interoperability enables healthcare providers to access a complete and up-to-date view of patient information, including medical history, test results, medications, and treatment plans, regardless of where the data originates - Improved operational efficiency
By streamlining data exchange and eliminating manual processes, interoperability improves workflow efficiency and reduces administrative burden for healthcare providers. This allows clinicians to spend more time delivering patient care and less time navigating disparate systems and duplicative tasks, resulting in cost savings and increased productivity - Facilitated research and innovation
Interoperability enables researchers and public health agencies to access and analyze large-scale datasets from diverse sources, facilitating population health management, epidemiological studies, and clinical research 
At the same time, there are some challenges - Main Challenges of Interoperability: Despite its potential benefits, achieving interoperability in healthcare remains a complex and multifaceted challenge. Technical barriers, such as incompatible data formats, standards, and protocols, as well as legal and regulatory issues, such as data privacy and security concerns, pose significant hurdles to seamless data exchange. Additionally, cultural and organizational factors, such as resistance to change and lack of collaboration, can impede progress towards interoperability. Interoperability serves as the foundation for a connected and collaborative healthcare ecosystem, enabling seamless integration of systems, data, and workflows

Are you looking for a tech team to boost your healthcare product? Contact us - mailto:[email protected] 📈

For those interested in healthcare purchasing trends, Bain/KLAS's new research shows that healthcare organizations keep upping their IT spend and budget. "Hospital and health system leaders boosted tech spending to keep up with emerging technologies, ease labor shortages and help with cost pressures in other areas [...] The top three IT spending priorities for hospitals and health systems are revenue cycle management (39 percent), clinical workflow optimization (34 percent) and patient engagement (29 percent)." We saw a lot of data from our research that showed that HCOs need a clear deployment plan, and clear ROI statements to play ball with new technologies, and that much of the spend they have is dedicated to working on provider burnout and other very known problems. This data seems to reflect that. Given that, it's honestly not too shocking to me was the fact that AI only makes up 6% of the spend, with that % investment likely grow 10x in the next few years. Of that 6%, top tier focuses of AI being: clinical decision support tools (29 percent), predictive analytics and risk stratification (25 percent), and clinical workflow optimization and automation (23 percent). If you're in AI, and you solve one of the key tiers of problems HCOs are spending money on right now.. my eyes are on you! 👀 👀 https://lnkd.in/dTrTm56r

New guide for taking tech forward in systems. NHS Confederation have worked in partnership with Google Health to produce a short guide for members on how best to take forward the advances in technology in healthcare and best use the systems they already have in place to further the NHS’s technology agenda. This follows on from the joint report we published last year: https://bit.ly/3Ntees8 The guide explores five key components for unlocking the future of patient-facing technology in healthcare and includes a number of useful examples. This guide is aimed at ICS digital leads and strategy and transformation leads across the health and care system.