Healthcare providers are prioritizing value-based payment models in 2018 IT budgets and data analytics is the category most likely to see an increase in spending, according to a survey from healthcare advisory firm Damo Consulting.
According to the study, the biggest drivers of technology spending in the healthcare sector are value-based care initiatives (60.5 percent), patient engagement and care management (57.9 percent), enterprise digital transformation (47.4 percent), and considered cybersecurity and ransomware (39 percent).
The study also asked respondents which technology areas they think will see increased spending in 2018. Data analytics was the single biggest area identified, with 76.3 percent. Nearly half (47.4 percent) believe that AI and cognitive spending will increase in 2018, followed by digital health (44.7 percent).
When questioned about the biggest obstacles for growth in healthcare IT spending, a majority (60.5 percent) of respondents cited a lack of enterprise readiness for new technologies. Fifty percent of respondents believe interoperability challenges to be the second biggest obstacle and 47.4 percent indicated insufficient/unproven ROI on new IT solutions.
Among the other findings is that the CIO remains the most important decision maker (23.7 percent) for technology solutions and services in their client organization. However, other titles are gaining importance, such as CFO, CTO and CMIO.
Damo sought input from 38 individuals at global technology firms, population health management companies, digital health organizations and more. To read more, download the survey here.
At LUMEDX, we know that analytics and value-based care go hand in hand. Actionable insights from your data are key for health organizations making the transition from a fee-for-service payment model. For more information about how our HealthView Analytics offering can help you, visit lumedx.com/healthview-analytics or email firstname.lastname@example.org.