Five Budgetary Brackets for Healthcare IT Spending

  1. healthcare-IT

Healthcare organizations face ongoing needs to deploy a diverse range of applications for 24/7 use. Healthcare IT spending and budget allocation should, therefore, match those needs as the healthcare vertical welcomes an IT-enabled future. Leaders at healthcare organizations must be conscious of investment trends in the healthcare IT solutions segment. Consider creating budgetary brackets for five key areas of IT spending within a healthcare organization.

1. Core Clinical Systems

Modern healthcare practices are increasingly data-driven. The rising data deluge and the need to access healthcare information from anywhere, anytime and from any device necessitate strong network connectivity and infrastructure resources.

2. New Clinical Service Apps

Innovation in the healthcare industry is critical to improve patient outcomes and reduce costs. The healthcare IT industry is pushing the boundaries in developing new apps and services that empower healthcare providers to reach these goals. This area should receive a majority share of the budget.

3. Back-Office Applications

These include the tools needed just to get the job done. Great organizations do the basics right. Allocate enough budget to ensure the basic IT services such as Office365 remain up and running.

4. Interoperability in Healthcare IT

Widespread adoption of Electronic Health Record (EHR) systems has forced healthcare organizations to establish strong means of collaboration. Interoperability among disparate IT systems forms the foundation of effective collaboration. Doctors should be able to share and access data conveniently without running into performance and functionality concerns, prompting adequate investments in data management, network performance, connectivity, service uptime and availability.

5. Compliance and Security

Personally identifiable healthcare information is one of the most valued targets for cybercriminals with financial motivations to compromise user data. That’s because the personal healthcare information data set includes complete and holistic information about individuals. Patient data allows cybercriminal to file made up claims and buy equipment or drugs to resell. Additionally, it takes years to detect this type of attack versus credit card fraud detection timelines. Failure to protect this information leads healthcare institutions to high-profile lawsuits and damaged brand reputation. Rising threats to data security and network should force IT leaders to invest in security and maintain compliance to the best possible standards. Consider the pricing of user information in the cybercrime black market – healthcare data sells for 10 times as much as the financial information.

Download our white paper, Meeting Healthcare IT Challenges Head On, to learn more about how healthcare organizations can leverage the true value of technology.

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