Digital Investments in Healthcare Through COVID-19 and Beyond

Digital Investments in Healthcare Through COVID-19 and Beyond

Competitive Intensity Heightens Prioritization of CX

RELEASE DATE
23-Jul-2021
REGION
Global
Deliverable Type
Market Research
Research Code: K62F-01-00-00-00
SKU: IT04361-GL-MT_25610
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Digital Investments in Healthcare Through COVID-19 and Beyond
Published on: 23-Jul-2021 | SKU: IT04361-GL-MT_25610

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With 99% of healthcare organizations in some stage of digital transformation, it’s clear that stakeholders understand the value of IT solutions. Digital health solutions offer great promise for new care delivery models, expanded access, better patient outcomes, and improved operational efficiency. Advanced technologies can help them deal with a myriad of problems that are common around the world. These include an aging population, the rising prevalence of chronic diseases, anticipated medical staff shortages, long wait times (for appointments and in crowded offices), quality-of-care concerns, and the need for a common technology platform.

Leveraging cloud-based information technology (IT) has become a priority to capitalize on the vast new resources of clinical, financial, socioeconomic, and other data generated across the health ecosystem and captured by electronic health records (EHR), connected medical devices, smartphones, and wearables. Robust data sets can be used to develop new insights, which help improve the quality and efficiency of healthcare and deliver new, innovative IT solutions that engage consumers.

Composed primarily of revenue associated with billing systems and services, this market is increasingly incorporating advanced and specialty technologies such as analytics, cybersecurity, and telemedicine.

Needless to say, COVID-19 has had a tremendous impact on this industry. It continues to relentlessly test healthcare organizations around the globe, causing swift changes to regulations, methods of care, and technology usage.

The overall research objective of this study is to measure the current use and future decision making behavior toward information technology (IT) within the healthcare sector, specifically: smart phones, tablets, mobile apps, unified communications and collaboration, Internet of Things and machine-to-machine (M2M) communications, social media management and marketing tools, infrastructure and data centers, big data and analytics, digital marketing, customer experience management, cybersecurity, and ERP/supply chain management/HR Management.


Research Highlights

  • Understand the IT-related challenges organizations face today
  • Monitor the status of digital transformation 
  • Assess the current and future use of business communications technologies
  • Evaluate factors that drive investments in communications technologies
  • Gauge IT and communications trends
  • Appraise available IT budgets
  • Discover opportunities in different regions, verticals, and business size

Privacy and security are the primary concerns of using AI. Fears on losing the human touch with co-workers, patients, and partners are valid. Each organization must find its own optimal balance of the human vs. AI equation and invest in the solutions that help the company achieve its top goals.

Delivering a holistic customer journey is top of mind among healthcare organizations . Delivering solutions that allow for seamless integration of channels and achieve CX goals across departments will be advantageous for vendors.

Telehealth and virtual care are here to stay for the long run. This creates great opportunity for unified communications and collaboration and contact center solution providers because connecting patients with agents, nurses, physicians, technicians, pharmacies, health supplies, and medical device manufacturers, among others, is critical to improving patient care and customer satisfaction.

Ensuring customer trust is a top CX priority when making purchase decisions for healthcare organizations. CX solutions that help these organizations gain customer trust will be the winners.

COVID-19 shut the entire world down in a matter of days. It continues to impact economies around the globe as lives are lost, and staying healthy trumps every other need. The pandemic's most significant insights are that a disaster recovery plan is essential, and being an agile organization enables swift organizational changes to meet customers' urgent needs. Thus, companies that invest in automation and self-service tools that boost, not hurt CX, will thrive.

Author: Alpa Shah

Digital Trends in Global Healthcare—State of the Industry in 2020

The Quadruple Aim and the Shifting Role of Healthcare Companies to Fit into a New Paradigm

The Impact of the Top Three Strategic Imperatives on Digital Health Industry

Covid-19 Impact on the Healthcare Industry

Impact of the Covid-19 Outbreak on the Global Telehealth Market

Growth Opportunities from Covid-19 Impact

Growth Opportunities in the Hospital Industry

Growth Opportunities in the Digital Health Industry

Growth Opportunities for Telehealth Suppliers to Battle Covid-19

Growth Opportunities in Medical Technologies

Research Objectives and Methodology

Research Objectives

Respondent Profile – Decision-making Authority

Respondent Profile – Decision-making Authority (continued)

Respondent Profile – Familiarity With IT Budget

Respondent Profile – Involvement in IT-related Purchases

Organization Profile – Size of Organization

Organization Revenue in 2019

Percent of Revenue Allocated to IT/Telecom Budgets in 2020

Percent of Revenue Allocated to IT/Telecom Budgets in 2020 (continued)

Estimated Change in Organization Revenue from 2019 to 2020

Estimated Change in Organization Revenue from 2019 to 2020 (continued)

Covid-19 Impact on Revenue in 2020

Covid-19 Impact on Revenue in 2020 (continued)

Estimated Change in IT/Telecom Budgets in 2021

Estimated Change in IT/Telecom Budgets in 2021 (continued)

Key Findings

Key Findings (continued)

Top IT Challenges Faced by Organizations

Organization Profile – Top IT-related Challenges

Key Business Goals

Key Business Goals by Organization Type

Current Stage of Digital Transformation

Current Stage of Digital Transformation by Organization Type

Hurdles To Purchasing Transformative Technologies

Hurdles To Purchasing Transformative Technologies By Organization Type

Top Departments to Procure Digital Transformation Budgets

Top Departments to Procure Digital Transformation Budgets by Organization Type

How Companies Measure Digital Transformation Success

How Companies Measure Digital Transformation Success By Organization Type

Departments Driving the Adoption of Digital Solutions

Impact of Covid-19 on the Organization

Impact of Covid-19 on the Organization by Type

Top IT Challenges to Support Remote Work

Covid-19 Impact on Digital Transformation Strategy and Investments

Covid-19 Impact On Digital Transformation Strategy And Investments By Organization Type

Digital Transformation Objectives Prioritized due to Covid-19

Digital Transformation Objectives Prioritized Due To COVID-19 By Organization Type

Technologies Deployed to Monitor Employee Safety

Technologies Provided to Remote Employees During the Covid-19 Pandemic

Covid-19 Impact on Physical Office Space and Real Estate

Future Investment Priorities

Future Investment Priorities by Organization Type

Currently Used Digital Solutions

Priority for Investments in Solutions

Competitive Advantages of Solutions

Key Reasons for Investing in IOT

Key Concerns Regarding Implementation of IOT

Key Reasons for Investing in AI

Importance of AI Features/Capabilities For Enterprise Communications and Contact Centers

Key Benefits of AI

Risks Related to AI

Key Features When Purchasing Big Data Analytics

Features Lacking in Big Data Analytics

Customer Experience Priorities

Customer Experience Challenges

Transformative Technologies’ Investment Decision Making Factors

Top CX Priorities By Vertical

Top Challenges to Delivering Excellent CX

Communication & Collaboration Tools Used Today

Key Drivers for Investing in Communication and Collaboration

Frontline Workers

Capabilities that Enhance Frontline Workers’ Performance Ranked in Order of Importance

Organizations’ Perception of their Capability to Empower Frontline Workers

Technologies Used by or Planned for Frontline Workers

Tools Most Often Used by Frontline Workers

Factors Preventing Frontline Workers From Meeting Goals

Factors Preventing Organizations From Empowering Frontline Workers

Growth Opportunities from a CX Perspective

Growth Opportunities Fuel the Growth Pipeline Engine™

Why Is It Increasingly Difficult to Grow?

The Strategic Imperative 8™

List of Exhibits

List of Exhibits (continued)

List of Exhibits (continued)

List of Exhibits (continued)

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With 99% of healthcare organizations in some stage of digital transformation, its clear that stakeholders understand the value of IT solutions. Digital health solutions offer great promise for new care delivery models, expanded access, better patient outcomes, and improved operational efficiency. Advanced technologies can help them deal with a myriad of problems that are common around the world. These include an aging population, the rising prevalence of chronic diseases, anticipated medical staff shortages, long wait times (for appointments and in crowded offices), quality-of-care concerns, and the need for a common technology platform. Leveraging cloud-based information technology (IT) has become a priority to capitalize on the vast new resources of clinical, financial, socioeconomic, and other data generated across the health ecosystem and captured by electronic health records (EHR), connected medical devices, smartphones, and wearables. Robust data sets can be used to develop new insights, which help improve the quality and efficiency of healthcare and deliver new, innovative IT solutions that engage consumers. Composed primarily of revenue associated with billing systems and services, this market is increasingly incorporating advanced and specialty technologies such as analytics, cybersecurity, and telemedicine. Needless to say, COVID-19 has had a tremendous impact on this industry. It continues to relentlessly test healthcare organizations around the globe, causing swift changes to regulations, methods of care, and technology usage. The overall research objective of this study is to measure the current use and future decision making behavior toward information technology (IT) within the healthcare sector, specifically: smart phones, tablets, mobile apps, unified communications and collaboration, Internet of Things and machine-to-machine (M2M) communications, social media management and marketing tools, infrastructure and data centers, big data and analytics, digital marketing, customer experience management, cybersecurity, and ERP/supply chain management/HR Management.--BEGIN PROMO--

Research Highlights

  • Understand the IT-related challenges organizations face today
  • Monitor the status of digital transformation 
  • Assess the current and future use of business communications technologies
  • Evaluate factors that drive investments in communications technologies
  • Gauge IT and communications trends
  • Appraise available IT budgets
  • Discover opportunities in different regions, verticals, and business size

Privacy and security are the primary concerns of using AI. Fears on losing the human touch with co-workers, patients, and partners are valid. Each organization must find its own optimal balance of the human vs. AI equation and invest in the solutions that help the company achieve its top goals.

Delivering a holistic customer journey is top of mind among healthcare organizations . Delivering solutions that allow for seamless integration of channels and achieve CX goals across departments will be advantageous for vendors.

Telehealth and virtual care are here to stay for the long run. This creates great opportunity for unified communications and collaboration and contact center solution providers because connecting patients with agents, nurses, physicians, technicians, pharmacies, health supplies, and medical device manufacturers, among others, is critical to improving patient care and customer satisfaction.

Ensuring customer trust is a top CX priority when making purchase decisions for healthcare organizations. CX solutions that help these organizations gain customer trust will be the winners.

COVID-19 shut the entire world down in a matter of days. It continues to impact economies around the globe as lives are lost, and staying healthy trumps every other need. The pandemic's most significant insights are that a disaster recovery plan is essential, and being an agile organization enables swift organizational changes to meet customers' urgent needs. Thus, companies that invest in automation and self-service tools that boost, not hurt CX, will thrive.

Author: Alpa Shah

More Information
Deliverable Type Market Research
No Index No
Podcast No
Author Alpa Shah
Industries Information Technology
WIP Number K62F-01-00-00-00
Is Prebook No
GPS Codes 9705-C1,9AA5-C1,9AD1-C1,9658,9661,9A3A,9723