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COVER STORY · STATE OF THE INDUSTRY


dreamstime The Healthcare Innovation 2021 State of the


Industry Survey: Complex Horizons Ahead Healthcare Innovation’s Second Annual State of the Industry Survey finds provider leaders moving forward to meet the challenges of the emerging U.S. healthcare system, which will demand that providers demonstrate value By Mark Hagland


E


ven as hospitals, medical groups, and integrated health systems in the United States face unprecedented challenges emerging out of the COVID-19 pandemic, and a cost curve that industry experts, observers and provider leaders alike agree is becoming unsustainable, leaders of provider organizations are moving forward to meet the challenges and seek the opportunities of the future. That is clear in the results of the Healthcare Innovation Second Annual State of the Industry Survey. Approximately 150 healthcare senior


executives, including CEOs, COOs, CIOs, CMIOs, CNIOs, CTOs, CMOs, CNOs, and others, responded to Healthcare Innovation’s survey; they help to lead standalone hospitals, integrated health systems, medical groups, feder- ally qualified health centers (FQHCs), and other provider organizations.


Not surprisingly, survey respondents


see the challenges ahead of them, as they work to evolve forward value- based contracts, increasingly leverage data analytics—including artificial intelligence—to support their popu- lation health management and care management work, and also work to meet the cybersecurity threats facing them every day. Following the compilation of the


survey’s results, Healthcare Innovation interviewed a range of industry leaders to get their perspectives on the current moment in U.S. healthcare—and what comes next.


IT budgets seen increasing to meet needs Among survey respondents, 31 percent said that 0-5 percent of organizational revenues are being expended on IT; 34


8 hcinnovationgroup.com | JANUARY/FEBRUARY 2021


percent said that 5-10 percent of revenues are going to it; and fully 35 percent said that more than more than 10 percent of revenues are being spent on IT. As for trends, fully 67 percent of


respondents said that their IT budget has increased over the past two years, while 26 percent said it’s stayed the same. Only 7.5 percent reported that it’s decreased in that time.


What’s more, when asked what impact the COVID-19 pandemic has had on IT budgets, only 16 percent of respondents reported that the pandemic has decreased their IT budget, while 41 percent reported that the pandemic has increased it; a fur- ther 44 percent said their budget has stayed the same during the pandemic. Referring to the fact that two-thirds of


respondents reported that their budgets have increased, John Kravitz, CIO of the Danville, Pa.-based Geisinger Health


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