A recent survey conducted by Atomik Research found that 96% of healthcare executives believe that investing in healthcare technology is worth the cost. However, despite this belief, 71% of executives expressed that overall hospital expenses have not decreased with the implementation of digital tools. The survey was commissioned by Ernst & Young and included the participation of 101 payer and provider executives in the U.S.
One notable finding of the survey was that nine in 10 executives stated that utilizing digital systems has allowed their departments to allocate more time to the needs of providers by shifting administrative tasks to a digital platform. Additionally, 93% of respondents noted that emerging technology has positively improved operational efficiency for providers.
Even though 86% of executives recognize the potential for cost reduction through digital health offerings, 70% have yet to see a return on investment. Despite this, 90% of healthcare executives plan to continue investing in staffing digital health technology teams, and 94% believe that newer technologies help to enhance providers’ credibility.
The survey, which took place from September 26th to October 6th, 2020, had a margin of error of +/-10% with a confidence level of 95%.
The COVID-19 pandemic has led to an increased focus on digital health technology, with substantial investments made in the early stages of the pandemic. While some executives anticipate an increase in investment in 2024, investors are now prioritizing technology with a proven track record for effectiveness and scalability.