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New technologies like artificial intelligence, or other software programs, designed to help with workflows or administrative tasks, can make a dramatic difference, and the healthcare industry is finally heeding the message.

A number of recent studies have indicated that healthcare providers are either prioritizing new technologies or actively spending on them. 

One of the latest reports that corroborates this trend indicates that 80% of providers had increased spending on IT and software, with a majority first prioritizing electronic health records. 

In addition, while only 6% of healthcare providers polled currently had a generative-AI system in place, that number was expected to increase tenfold over the next year, as 70% of providers said they expected AI to have an impact on their organization. 

The report, which was produced by consulting firms Bain & Company and KLAS Research, also showed that of healthcare executives queried, over half considered technology upgrade a strategic priority for their company, compared with roughly a third in 2022. 

In particular, companies are looking at improving clinical workflows and revenue cycle management, aspects of a business that can produce clear or objective results. 

Despite the desire for new tech tools, healthcare providers preferred to work with existing vendors, the study found. In addition, there remains some skepticism about the abilities of AI, even as providers are expected to pursue AI solutions.

“As AI moves out from the silos of the IT department and into the C-suite agenda, providers are accelerating their investments in IT and tech solutions,” Bain healthcare & life sciences partner Eric Berger said in a statement. “AI has the power to transform many processes and workflows. However, this shift hinges on the technology’s ability to demonstrate productivity gains in real-world applications without increasing clinical risk.”

This desire for data exchange is why many healthcare tech companies are now talking about interoperability and connected solutions. 

Although there is better understanding about how to move toward industry standards of interoperability, experts predict “slow and steady” progress within the senior care and living industry, McKnight’s reported recently.


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