While hospitals and health systems project a decline in capital expenditure budgets, healthcare IT spending seems to be growing, according to a new survey. Premier’s latest Economic Outlook, which is based on a survey of 617 healthcare executives, shows that 41% of the respondents project their capital spending to increase compared with last year.
Even though this is down from 46% last year, and 74% of this year’s respondents cited a reduction in reimbursements as a leading trend impacting their organization and driving the budget cuts, 43% listed HIT and telecommunications as the area in which they expect to invest the most capital over the next twelve months. Nearly a quarter (24%) anticipate a decrease in patient admissions for the same time period.
Reducing the number of vendors used, by standardizing, was cited by almost a third of respondents as the area to which most resources are being directed in order to make their supply chains more efficient. Using full-suite systems which combine Electronic Medical Records software with medical billing software, such as Medisoft Clinical or Lytec MD, is an excellent way to consolidate, and Microwize Technology is here to help. Contact a healthcare IT consultant today!