• Sat. Mar 2nd, 2024

Survey Reveals Healthcare Executives Value Digital Health Technology, But Struggle to See Tangible Cost Savings

ByEditor

Feb 13, 2024
Healthcare executives are embracing digital health technology despite lack of return on investment

According to a survey conducted by Atomik Research, 96% of healthcare executives believe that investing in healthcare technology is worthwhile. However, 71% of respondents stated that hospital expenses have not decreased with the implementation of digital tools. The survey, commissioned by Ernst & Young, included 101 payer and provider executives in the U.S.

Despite recognizing the potential for cost reduction, 70% of executives have not yet seen a return on investment from digital health offerings. Nevertheless, 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 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.

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 this, only 71% of respondents stated that hospital expenses have not decreased with the implementation of digital tools.

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%. Overall, the results suggest that while healthcare executives recognize the value of investing in digital health technology teams and newer technologies like artificial intelligence (AI), they are still struggling to see tangible cost savings from these investments.

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