Hospitals know they need digital solutions, but don’t know the best way forward
A report from Panda Health found that hospitals face extensive challenges in selecting new digital health solutions and that these delays hurt physicians. Hospital Digital Health Technology Report 2023: The Cost of Confusion concludes that hospitals are struggling to realize the full potential of their available digital health solutions, which comes at a significant cost to their staff and bottom line.
The report is based off a survey of 100 hospital executives, conducted by healthcare consultancy Sage Growth Partners. The independent survey found that while most hospital leaders agree that digital health solutions are crucial to meeting their top objectives and easing their biggest pain points, many organizations are struggling to find optimal solutions and maximize impact.
"We have found that hospital leaders recognize the high value of digital health, technology, and automation solutions, but there continues to be many disappointments, noise and missteps in an oversaturated market," said David Harvey, CEO, Panda Health, in a statement. "Challenging market dynamics, and complex internal acquisition processes are contributing to a significant delay in acquiring these solutions for hospitals."
The report found that 67% of hospital executives say their organizations will implement at least one or two new digital health solutions this year, while 29% will implement three to five solutions.
Of those surveyed, 72% said digital health solution adoption among hospitals will increase over the next three years, and nearly half of those respondents predict it will increase significantly. However, confusion is slowing the process down, with 68% describing the digital health solution market as challenging and 62% said it is difficult to navigate.
The results aren’t always great either, with more than half of respondents saying digital health solutions don’t work out as desired.
Respondents also cited top consequences of poor solution selections, which included a waste of investment dollars, operational inefficiencies, and burnout. During a time when staff shortages and burnout are facing an all-time high, hospitals cannot afford to make missteps, the report states.
"With mounting pressure to deploy new digital solutions, it is important for hospitals to consider their best approach and de-risk their selection process," said Harvey. "In today's environment, the cost of implementing a wrong solution can be significant. In addition to wasted time and resources, physicians and staff are greatly impacted, which can affect the quality of patient care that is delivered."
According to the report, the tension between the need to act with speed and the need to make sound solution decisions exposes the critical need for resources to evaluate, implement, and optimize new technologies.