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5 strategies to help healthcare executives succeed in the digital transformation
Health systems must consider these five points before choosing a healthcare technology vendor.
The healthcare information technology (HIT) industry is booming at a staggering rate. There are many new entrants on the market — some of them still very much in the nascent stage when it comes to perfecting and proving their platform’s effectiveness and ROI. As a result, it can be difficult for healthcare executives to cut through the clutter of superlatives and make smart decisions about technologies that can benefit their organization.
The North American HIT market is expected to hit $104.3 billion by 2020, growing at more than 13 percent, alongside nearly 9 percent growth in HIT budgets this year alone. With such a tremendous amount of money being poured into healthcare informatics, the stakes are extremely high. In the perfect storm of increasing patient demand, skyrocketing medical costs and the drive toward value-based care, organizations don’t have time and energy to waste in choosing the wrong technology solutions. They need proven solutions with quantifiable results at an ROI that makes sense.
As your organization attempts to select an HIT investment, here are some tips that can help you evaluate the options and make the best decisions for today and down the road.
With so much money and the urgent need for efficiency riding on HIT investment decisions, it’s easy to see how choosing the right platform can be daunting. But by evaluating prospective solutions carefully and realistically, healthcare executives and providers can confidently make the right decision for both their patients and their organization to secure a more productive and fiscally sound future.
With more than 20 years of leadership and experience in healthcare, Steve Whitehurst has successfully built, scaled and launched technology businesses of varying size and maturity. His success lies in his ability to assess and find partners to support growth, fill in gaps and create better operational scale. As CEO at Health Fidelity, Steve is focused on building a great team that is strongly aligned with their mission and purpose. He holds a bachelor’s degree in political science from St. Mary’s College. He sits on a number of boards and acts as a mentor for the healthcare startup community.
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