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1022245

Digital Investments in Healthcare Through COVID-19 and Beyond

Published: | Frost & Sullivan | 110 Pages | Delivery time: 1-2 business days

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Digital Investments in Healthcare Through COVID-19 and Beyond
Published: July 23, 2021
Frost & Sullivan
Content info: 110 Pages
Delivery time: 1-2 business days
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  • Description
  • Table of Contents
Description

Competitive Intensity Heightens Prioritization of CX

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.

Table of Contents
Product Code: K62F-76

Table of Contents

State of the Healthcare Industry

  • 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

Customer Research Objectives and Methodology

  • Research Objectives and Methodology
  • Research Objectives

Respondent and Organization Profile

  • 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

Company Profile and Telecom Budgets

  • 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
  • Key Findings (continued)
  • Top IT Challenges Faced by Organizations
  • Organization Profile - Top IT-related Challenges

Digital Transformation Strategy

  • 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

Covid-19 Impact

  • 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

Transformative Technologies: Overall

  • Currently Used Digital Solutions
  • Priority for Investments in Solutions
  • Competitive Advantages of Solutions

Transformative Technologies: Internet of Things (IOT)

  • Key Reasons for Investing in IOT
  • Key Concerns Regarding Implementation of IOT

Transformative Technologies: Artificial Intelligence (AI)

  • 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

Transformative Technologies: Big Data Analytics

  • Key Features When Purchasing Big Data Analytics
  • Features Lacking in Big Data Analytics

Transformative Technologies: Customer Experience

  • 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:Overall

  • Communication & Collaboration Tools Used Today
  • Key Drivers for Investing in Communication and Collaboration

Frontline Workers

  • 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

The Last Word, 2021

  • Growth Opportunities from a CX Perspective

Appendix

  • 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)
  • Legal Disclaimer