Dive Brief:
- Investment in health IT is a top priority for a majority of providers and payers, though executives are seeking solutions for specific use cases that provide measurable results, a new survey from Bain & Company and KLAS Research shows.
- Tools that target revenue cycle management, patient engagement and clinical workflows are attracting attention — and investment dollars — from providers. Payers are focused on utilization management, care navigation and claims processing.
- Executives are especially emphasizing measurable return on investment when it comes to AI, with some seeking returns of 3x to 3.9x their original investment, according to the survey.
Dive Insight:
In an increasingly digitized healthcare landscape, nearly 95% of providers and payers said health IT software and technology were a top strategic priority that they planned to invest in.
The survey, which polled over 300 healthcare executives, found that nearly half of acute care providers (43%) cited RCM as a top investment priority, while 40% named patient access and engagement tools. Independent physician groups said patient access and engagement and RCM tools were their top IT investment areas. Notably, providers prefer technology solutions inside electronic health records over third-party options.
The survey shows that, when it comes to clinical tasks, over half of providers would prefer an EHR-native tool with basic or partial functionality to third-party solutions. On the flip side, providers would rather have advanced third-party solutions for governance, risk and compliance.
Among payers, member care coordination and utilization management, care navigation, and claims processing and payment were the top investment priorities. For AI, about 60% of payer executives said the technology is meeting or exceeding their ROI expectations, including in benefits verification and member enrollment.
Most providers (75%) also expressed optimism about AI's potential, particularly in ambient documentation and chart summarization. AI-driven ambient documentation is starting to show clear ROI, the report said.
That ROI piece is vital as independent research reveals not all digital health tools live up to their financial promises, even the popular AI ones. While many providers and payers have yet to establish formal ROI thresholds, those that do have high expectations — about three to four times the original investment.
“Much early adoption has been based on intuition and optimism, but as AI enters its next stage of maturity, there is a growing sense that the bill is coming due: ROI will become increasingly important to sustain investment,” the report authors wrote.
