Investing in Healthcare Technology: Key Considerations

Technology has the potential to improve the way we deliver care, increase efficiency, and enhance the patient experience. However, simply adopting the latest “shiny object” without considering its impact on the organization’s overall strategy can lead to disaster. That’s why it’s essential for organizations to invest in healthcare technology that aligns with their goals and objectives.

Focus on transformation rather than digital.
To determine if a technology is worth pursuing, the first step is to focus on the transformation rather than the digital. Healthcare organizations need to have sturdy goals that can sustain a transformative technology while also resisting the temptation to adopt an irrelevant one. For example, a healthcare system that wants to become a provider of care and an insurer leveraging both to advance care quality and efficiency, as well as providing a world-class service and care experience for their patients, can use these goals to assess whether a digital technology is worth pursuing. The technology should deliver better care and lower costs while also offering personalization to keep patients from feeling like they’re getting cookie-cutter care.

Understand the Essential Contribution of Technology
The second step is to understand why a particular technology is an essential tool. Healthcare organizations should be able to identify the core potential contribution of a technology in just one or two sentences. For example, AI can analyze electronic-health-records data to identify differences in the effectiveness of various treatments, or AI-based bots can recognize emotions and cultural expressions to provide a richer call-center experience for patients who have questions about their health or bills.

Investing in the Right Technology is Crucial
Investing in healthcare technology is a must-have for organizations that want to remain competitive and provide high-quality care to their patients. But it’s crucial to invest in the right technologies that align with the organization’s goals and objectives. Otherwise, it can lead to a waste of money and time, divert the organization from its goals, and allow more disciplined competitors to take advantage of better technology choices and implementation.

In conclusion, investing in healthcare technology is essential for organizations to remain competitive in today’s healthcare landscape. However, it’s essential to identify the right technologies that align with the organization’s goals and objectives to avoid wasted investments and potential disruptions. Organizations need to focus on the transformation rather than the digital and understand the core potential contribution of a technology to their overall strategy. By following these steps, healthcare organizations can invest in the right technologies that help them deliver better care, increase efficiency, and enhance the patient experience.