Advice and Information for Finance Professionals

New Technologies Improving the Business of Healthcare

Lynne Sampson
Managing Editor

Have you ever heard of the “quadruple aim”?

If you’re a finance or business leader in healthcare, you probably have. It refers to an industry-wide set of goals for U.S. healthcare providers, which can be broadly categorized as:

  1. Enhancing the experience of care for individuals
  2. Improving the health of populations
  3. Reducing the per capita cost of healthcare
  4. Improving the clinician experience

As in every business today, technology plays a critical role in helping healthcare organizations achieve their goals. The Healthcare Information and Management Systems Society (HIMSS) recently undertook a survey to understand how healthcare organizations are making use of new technologies—including cloud, artificial intelligence and machine learning (AI/ML), blockchain, and the Internet of Things (IoT)—to help them with these four strategic priorities.

We’re excited to share some preliminary findings with you, and invite you to attend the HIMMS webcast for a more in-depth look.

5 Key Findings from the HIMSS Survey

1. Hospitals and health systems are managing multiple strategic priorities related to the quadruple aim. Technology can be a key enabler to advancing those goals; yet, for most targeted outcomes, fewer than half of the hospitals and health systems surveyed feel their technology plans are well aligned with their goals.

Q. How well do you feel your organization’s current or planned use of technology solutions is aligned to advance the following goals?

2. A lack of willingness to embrace new technologies may be one barrier to better alignment, with most organizations wanting evidence of success or more mainstream adoption before committing.

3. Despite this, hospitals and health systems are moving forward with technology that is key to driving digital transformation. Cloud enjoys the most widespread adoption, but decision makers also report solid interest in AI/ML and IoT.

Q. Which of the following best describes your organization’s plans with respect to the following technologies?

4. Cloud is a technology hospitals and health systems are increasing their focus on. Three-quarters report interest in a cloud-first approach to managing applications and services, but they cite concerns regarding security, governance, integration, data protection and storage.

Q. Is your organization taking a cloud-first approach to managing its applications and services?

Q. What obstacles must be overcome to enable a cloud-first strategy at your organization?

5. The top use cases cited for AI/ML, IoT and blockchain are:

  • AI/Machine Learning: Clinical decision support & predictive analytics
  • IoT: Remote health monitoring for chronic conditions
  • Blockchain: Securing medical records/patient data

Join HIMSS for the full survey results. Attend the webcast, “HIMSS Media Insights on Technology Disruption in Healthcare.”

You can also learn more about technology options for healthcare organizations in the webcast, “Transformative Financial Analytics for Today’s Modern Healthcare Organizations.” This event will take a deeper dive into the critical role of technology in helping healthcare organizations achieve their strategic goals. The speakers will:

  • Explore trends in strategic financial management, planning, and reporting
  • Review the necessary analytic tools to help manage today’s complex healthcare organizations
  • Discuss how emerging technologies like AI/ML and IoT are becoming important strategic tools for optimizing performance and decision making
  • Share a live demo of strategic financial analytic tools

Register today to attend “Transformative Financial Analytics for Today’s Modern Healthcare Organizations.” 

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