Digital Transformation

Organizations must execute plans to establish leading position

New study finds that competitive threats—particularly from nontraditional rivals—will grow, and healthcare organizations must find ways to meaningfully personalize care, including forging innovative partnerships, to thrive.

The Chartis Group, a leading healthcare advisory and analytics firm, found that despite ongoing financial concerns, nearly half (46%) of health systems plan to move into the implementation phase of digital transformation in the next five years, with 44% reporting plans to partner with competitors to personalize care delivery. To thrive in the new era of care, organizations must execute on plans now to establish a market-leading position, according to the Chartis Future of Healthcare research report, out today.Other key findings include:

  • The competitive landscape is broadening beyond peer hospitals and health systems, and non-traditional rivals pose growing competitive threats. Healthcare executives expect their biggest competition in digital services and technologies over the next five years to include virtual health companies (48%), payers (45%), retail care providers (41%), and large tech companies (41%).
  • Forty-four percent of hospitals and health systems said they’re planning to partner with competitors in the personalization of digital offerings, signaling that partnerships are emerging as a key strategic avenue to accelerate speed to market for their digital care experiences.
  • Many hospitals and health systems plan to implement a suite of digital services offerings in the next five years, including remote patient monitoring (55%), digitally enabled contact/service center (50%), digital specialty care initiatives (49%), digitalfirst primary care (49%), digital front door (47%), and hospital at home (39%), signaling a shift from simple point solutions to a holistic, digitally enabled care journey.

“Speed, focus, and an enterprise-wide transformation process driven by ROI will be essential as healthcare providers transition their leadership position in the historical context into a differentiated and enduring leadership position in the digitally transformed—and personalized—future state of healthcare delivery,” said Tom Kiesau, Chief Innovation Officer and Digital Transformation Leader at The Chartis Group.

Ninety-eight percent of health systems indicated they expect to be planning or executing on their efforts to personalize care in the next five years. As trusted stewards of patient data, hospitals and health systems have a unique opportunity to translate their caches of information into meaningful insights that create more impactful interactions between the patient and provider. However, emerging and deep-pocketed rivals will continue to bring innovative infrastructure options to market faster than many legacy healthcare organizations can.

To win the race, traditional providers may consider partnering with their new competitors to quickly come to market with tailored digital experiences that unlock new access points, expand patient segments, and ultimately deliver more efficient and effective patient care.

The Chartis Group released proprietary research into the future of health systems’ digital transformation as part of the HIMSS Trust partnership. Healthcare Information and Management Systems Society, Inc. (HIMSS) is a global advisor and thought leader supporting the transformation of the health ecosystem through information and technology. Survey respondents represented a mix of geographies; most were from urban and suburban areas, stand-alone community hospitals, or regional health systems, with $500 million to $5 billion in revenue.

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