Technology tops the list of leading hospital expenditures in 2015, according to 72.2 percent of C-suite executives polled in Premier’s Fall 2015 Economic Outlook survey.
The survey, which is published each year in the spring and again in the fall, surveys C-suite executives about changing spending habits and priorities. More than 60 percent of respondents reported an increase in capital budgets for 2015, with the greatest increases associated with technology.
“Investments in HIT, data analytics and modern clinical infrastructure are foundational for providers to seamlessly deliver population health services across their inpatient, outpatient and alternative care sites,” said Premier’s Chief Operating Officer, Michael J. Alkire, in a press statement.
Within the realm of technology, budget increases reflect an increased focus on healthcare providers’ needs to improve patient engagement. More than half — almost 55 percent — of respondents reported goals of increasing these capabilities over the next three years. Data analytics budgeting is also on the rise, with nearly half of all respondents saying they plan to expand budgets to focus on improving healthcare data analysis.
Fall 2015 healthcare technology spending breakdown:
- Patient Engagement Tools (54.7% reported)
- Wellness Programs (51.9% reported)
- Patient Outreach and Reminders (47.2% reported)
- Advanced Analytics ( 46.3% reported)
Alkire attributes these changes, at least in part, to the Affordable Care Act.
“The shift requires that health systems make new investments in infrastructure and high-value care networks to deliver better outcomes, as well as manage risk-based contracts and less reimbursement,” he explains.
Interested in reducing costs and improving your hospital’s ability to capture operational data? Contact us to learn how BedWatch technology tools can help improve performance, reduce waste, and provide comprehensive metrics around patient flow at your hospital.