According to a survey by Atomik Research, 96% of healthcare executives believe that investing in healthcare technology is worthwhile. However, the majority of respondents, 71%, 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.
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 recognizing the potential for cost reduction, 70% of executives have not yet seen a return on investment from digital health offerings.
Despite this, 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 survey took place between Sept. 26 and Oct. 6 last year, with a margin of error of +/-10% and a confidence level of 95%.
The COVID-19 pandemic has highlighted the importance of digital health technology and led 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 over short-term gains or hype around emerging technologies.