Healthcare providers are doubling down on software investments as they emerge from the pandemic, focusing on revenue cycle management, patient intake and cybersecurity, according to an Oct. 17 report from KLAS Research and Bain & Co.
Here are seven other things to know from the report:
1. Forty-five percent of providers accelerated software investment over the past year, compared to only 10 percent who went the other direction.
2. Health IT is a top-three strategic priority for nearly 40 percent of providers, and a top-five priority for almost 4 out of 5.
3. A third of providers plan to make "significant" investments in software over the next year.
4. Revenue cycle, security and privacy, patient intake/flow, clinical systems, and telehealth are the top five software solution spending priorities, respectively.
5. Security and privacy are the top investment priorities for both regional health systems and local health systems/freestanding hospitals.
6. Fifty-two percent of providers say vendor proliferation is the top challenge in the current software landscape.
7. Interoperability with other solutions is the top provider pain point with existing third-party tech stacks.