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Healthcare: Retooling for a Digital Future

In its 2021 Future of Healthcare Report, HIMSS (the Healthcare Information and Management Systems Society) found that 80% of health systems surveyed plan to increase their investment levels in digital health over the next five years. And investment amounts are substantial. Nearly 60% anticipate spending at least $10 million annually on digital health programs by 2026.*

The pandemic has clearly accelerated the digitization of healthcare as providers respond to new demands in patient care. Significant digital transformations to the healthcare system include:

• Telehealth: It wasn’t long ago that video calling your physician was not possible. But now Zoom medical visits are commonplace, with most doctors’ offices offering telehealth options for patients who prefer them. Hospitals, too, have seen the establishment of “virtual hospital wards” and “virtual ERs,” where centralized communication infrastructure is used to oversee the treatment of multiple patients in their own homes.

• Electronic Health Records: Accessible, easily organized, cloud-based, online health records are making patient information collection management and storage more efficient while leading to more streamlined workflows in hospitals and doctors’ offices

• Integrated Medical Technologies: The medical IoT is providing a wide range of internet connected implements, wearable devices, monitors, and integrated applications. These enable remote monitoring of patients’ conditions in real time, allowing patients and doctors to manage health conditions more quickly, safely, and conveniently through enhanced, data driven, virtual treatments.

Advanced technologies like these are driving a new age in healthcare. Healthcare providers have responded by exploring and implementing innovative ways to deliver care and create more satisfying patient experiences. As your firm or practice considers investing in its digital future, your Washington Trust Relationship Manager is available to help ensure its success.