Founder, Creator @ Hospitalogy | Breaking down the business of healthcare strategy, M&A, finance, innovation, and partnerships | Building a community across healthcare siloes
This graphic from McKinsey & Company is a nice high-level lookback at health system investment priorities as of mid 2023. (Note the glaringly obvious hole here post-Change Healthcare - no cybersecurity investments are included on the list). I'd bet cybersecurity makes the list in an updated survey, but you never know. Apart from that omission, you can see the primary focus for health systems in transformation land sits squarely on telehealth / virtual care capabilities, RCM and back-office automation, and digital front door investments. Stated differently, health system execs want: • Patient acquisition & engagement; • Better collections & financial throughput; and • Finding ways to free up clinicians by shifting lower acuity stuff to telehealth Plus health system execs are extremely optimistic about the potential for AI. P.S. - for more visuals and breakdowns like these on the business of healthcare, subscribe to Hospitalogy here! https://lnkd.in/gniNmHvz
It will also be interesting to see how new policies that impact cybersecurity also impacts the amount of RCM that is being done offshore. This hasn't been done from a quality perspective as much as a cost management perspective. I think we will also see variations in clinical roles change as we continue to see operational costs among clinicians soar.
i am curious how prevention and early detection filter into some of these bars.. i can see the opportunity in the impact bars: virtual, front door, ML
Very informative
I bet you are right... cyber security will be jumping up their list!
Wait what
Healthcare | Strategy Consulting, Digital Health, and Value-Based Care
2dWould be curious as to what data you’re looking at re: healthcare & cybersecurity because not sure that there’s a ton of evidence that the Change Healthcare breach actually moved the needle much on that front 😬 Healthcare leaders consistently de-prioritize cybersecurity, more than any other industry, despite it being the industry with (by far) the most costly data breaches 😳 https://www.modernhealthcare.com/digital-health/change-breach-cybersecurity-spending#