Healthcare Technology Adoption Is a Top Concern of Leaders

By Fred Donovan

June 10, 2019 - Healthcare technology implementation and adoption is a top concern of 100 healthcare leaders surveyed by Rabin Research Company on behalf of international law firm Proskauer.

Healthcare technology implementation and adoption only ranked behind cutting operating costs, protecting patient privacy and data, and recruiting and retaining top talent as the top concerns for healthcare leaders over the next year.

The top merger and acquisition target for many respondents was a company with artificial intelligence capabilities, according to the survey.

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Proskauer advised healthcare organizations mulling a new technology acquisition to consider the following:

Reasons for buying today: In the long run, is it a better financial decision to license the technology on an ongoing basis or acquire the technology company?
Future technology needs: What are the short- and long-term goals and how does the acquisition target meet those needs? Does it make sense to build such technology in-house (or upgrade legacy systems) or to buy a company to ensure long-term support?
Cybersecurity: How robust are its cybersecurity safeguards? Has the technology suffered a breach before? Where is its information stored?
Organization’s definition of success. Does it impact the bottom line? Is the organization looking to speed up patient waiting times or improve the customer experience? How does the acquisition target support the intended goals?

Better Worker Tech Training Top Change Need for Value-based Care

Close to half of respondents said that improving employee training in technology was the top industry-wide change that needed to happen to better promote value-based care.

Thirty-seven percent of respondents said that incentivizing participation in existing information sharing consortia was the top industry-wide change needed to promote value-based case, and 36 percent said that incentivizing vendors to encourage interoperability between electronic health record systems was the top industry-wide change needed.

Surprisingly, a majority of health care organizations fail to implement the most basic of cybersecurity best practices, the survey found.

Only one-third of health care organizations currently leverage any single cybersecurity best practice, such as implementing an accident response plan or using data encryption.

When respondents were asked to rank the Centers for Medicare and Medicaid Services (CMS) on a scale of one to 10 (with 10 being highly effective) when it comes to fostering innovation, 52 percent gave CMS a score of 8 or higher.

Only 15 percent of respondents cited complying with federal, state and local regulations as a top three most pressing business challenge in the year ahead.

“As the health care industry continues to evolve and new players enter the space, it’s imperative for health care executives to understand where they are thriving, where they are falling short and have a clear plan for the year ahead,” said Richard Zall, partner and chair of Proskauer’s Health Care Group.

“Identifying the core challenges and opportunities executives face allows our clients to be even more successful in navigating the evolving landscape,” Zall concluded.

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Healthcare Technology Adoption Is a Top Concern of Leaders

Healthcare technology implementation and adoption is a top concern of 100 healthcare leaders surveyed by Rabin Research Company on behalf of international law firm Proskauer.

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