Opinion: Health leaders are facing a digital transformation

Lacy Martin CommerceHealthcare has released its fifth annual Healthcare Finance Trends report, and its insights range across regulatory, financial, technological and supply chain considerations. The report includes an in-depth analysis of research combined with practice experience and identifies consideration for the industry given multiple intersecting challenges in the year ahead. One trend that will continue to carry importance for health care leaders is the need for a digital transformation. Digital transformation is fundamental to changes in the health care business and care delivery model. IBM’s website succinctly captures the goal: “Digital transformation means adopting digital-first customer, business-partner and employee experiences.” A leading forecaster believes 70% of health care organizations will rely on digital-first strategies by 2027, according to an International Data Corp. report titled Futurescape: Worldwide Healthcare Industry 2023. Transformation efforts need to accelerate. One study by Huron Consulting showed that “digital, technology and analytics strategies exist for nearly all organizations, yet only 30% have begun to execute on those plans.” However, one functional segment ramping up digital transformation is finance. According to a recent survey by Black Book Market Research, 94% of chief financial officers and senior leaders stated that such efforts will be at the forefront of […]

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