The call for digital transformation: A strategic priority for healthcare providers
Digital technologies have the potential to markedly enhance not only patient but also healthcare providers’ outcomes. Digital disruption in the healthcare industry is estimated to be an $8.7 trillion opportunity, with digitization saving the industry $300 billion in the US alone. Digital healthcare start-ups are increasingly receiving funding from venture capitalists, primarily due to the rise in both public and provider interest in using innovative approaches to improve health and quality of life.
So far, the healthcare industry has taken a paradoxical approach to technology, embracing innovation in certain areas and lagging in others. While the latest medical equipment is installed in hospitals to provide high quality patient care, providers are slow to upgrade their networked IT systems, and continue to function with legacy systems and disparate processes.
When done right, digital initiatives can help healthcare providers reimagine business processes, drive organizational transformation, enhance competitive advantage, and future-proof their businesses.
This paper discusses the challenges and implications of digital disruption for healthcare providers, and offers a roadmap for implementing digital transformation initiatives.
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