The majority of technology vendors––75 percent––believe advanced analytics and AI will be among the top areas of focus for healthcare companies in 2019, according to a survey by Damo Consulting.
The findings point to a changing tide within the healthcare industry as many executives begin to focus and spend more on AI, the report noted. Within the next several years alone, the AI in healthcare market is expected to grow from $2.1 billion to $36.1 billion.
Along with AI and analytics, technology vendors believe top priorities for healthcare companies in 2019 will include:
- Enterprise digital transformation
- Electronic health record (EHR) system optimization
- Cybersecurity and ransomware
- Mergers and acquisition (M&A) integration
The findings also showed that 79 percent of healthcare executives named digital health initiatives as a top spending priority for 2019. Other top spending priorities included: advanced analytics and AI capabilities; modernizing IT infrastructure; and optimizing EHR systems.
Healthcare executives also expect enterprise digital transformation, advanced analytics and AI and EHR system optimization to be the biggest drivers of healthcare spending in 2019.
While more than 70 percent of technology executives said advanced analytics, AI and enterprise digital transformation will be the focus areas in 2019, more than 65 percent of healthcare executives said they’re confused by the buzz around AI and digital in the marketplace.
Despite the confusion, a total of 71 percent of healthcare executives believe spending for healthcare IT will grow in 2019, with 29 percent saying it will increase by more than 20 percent. Just 21 percent said spending will remain the same, while 8 percent said it would decline
The third annual survey from Damo Consulting focused on changes with the healthcare IT environment, with insights from 64 technology and service providers and healthcare enterprise executives.
Danielle covers Clinical Innovation & Technology as a senior news writer for TriMed Media. Previously, she worked as a news reporter in northeast Missouri and earned a journalism degree from the University of Illinois at Urbana-Champaign. She's also a huge fan of the Chicago Cubs, Bears and Bulls.