March 26, 2023

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.

CHICAGO , Aug. 4, 2022 /PRNewswire/ — The particular Chartis Team, 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 associated with digital transformation in the next five years, with 44% reporting plans in order to partner along with competitors to personalize care delivery. To thrive in the new era of care, organizations must execute on plans now in order to establish a market-leading position, according to the particular Chartis Future of Healthcare research report,   out today.

Other key findings include:

  • The competitive landscape is broadening beyond peer hospitals and wellness systems , and non-traditional rivals pose growing competing threats. Health care executives expect their biggest competition within 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 associated with hospitals plus health systems said they’re planning to partner with competitors in the personalization of digital offerings, signaling that will partnerships are emerging as a key strategic avenue to accelerate speed to market for their digital treatment experiences.
  • Many private hospitals and health systems strategy to implement a suite of digital services products in the particular next 5 years, which includes remote patient monitoring (55%), digitally enabled contact/service center (50%), electronic specialty care initiatives (49%), digital first primary care (49%), digital front door (47%), and hospital at home (39%), signaling a shift from simple point solutions to a holistic, digitally allowed care journey.

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

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

In order to win the race, traditional providers may consider partnering with their own new rivals to quickly come to market with tailored digital experiences that unlock new access points, expand patient segments, and ultimately deliver a lot more efficient plus effective affected person care.

The Chartis Group released proprietary research into the particular future of health systems’ digital change 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 associated with the wellness ecosystem through information plus technology. Survey respondents represented a mix of geographies; most were from urban and suburban areas, stand-alone community private hospitals, or regional health techniques, with $500 million in order to $5 billion in revenue.

About The particular Chartis Team

The Chartis Group® (Chartis) will be a top healthcare advisory services firm serving healthcare providers, payers, service companies, and investors. Different simply by design, Chartis brings an unparalleled breadth and depth of expertise in strategy, performance modification, digital and technology, clinical quality plus patient safety, workforce, and strategic communications. Learn how Chartis is usually helping to build a healthier world at .

About HIMSS Trust Partnership

The HIMSS Trust partnership is the consortium of leaders from across the health care and technology space who are collecting, analyzing, plus reporting on in-depth, data-driven market intelligence. Insights gathered by the particular Trust will certainly unveil trends and challenges to help the industry prepare and predict for the particular next three to 5 years.

SOURCE The Chartis Group

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