A survey by Atomik Research found that 96% of healthcare executives believe that investing in healthcare technology is worthwhile. However, despite the implementation of digital tools, only 71% of respondents stated that hospital expenses have decreased. The survey, commissioned by Ernst & Young, included 101 payer and provider executives in the U.S.
Of those surveyed, 90% indicated that digital systems have freed up time for healthcare providers by automating administrative tasks. Additionally, 93% said that emerging technology has had a positive impact on operational efficiency. Despite recognizing the potential for cost reduction, 70% of executives have not yet seen a return on investment from digital health offerings.
Despite this, 90% of healthcare executives plan to continue investing in digital health technology teams, and 94% believe that newer technologies help to increase providers’ credibility. The survey took place between Sept. 26 and Oct. 6 last year, with a margin of error of +/-10% and a confidence level of 95%.
The COVID-19 pandemic highlighted the importance of digital health technology, leading to significant investments in the field. While some executives expect increased investment in 2024, investors now prioritize technology with a proven track record for effectiveness and scalability.
In conclusion, while most healthcare executives recognize the value of investing in digital health technology teams and new technologies that increase provider credibility, they are still waiting to see a return on investment before fully committing to these initiatives. However, with the ongoing pandemic highlighting the importance of digital health technology and investors looking for proven solutions with scalability and effectiveness, it is likely that we will continue to see increased investments in this field in the future.