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U.S. Healthcare Industry Races Toward Digital Future

$III #DigitalHealthcare--Healthcare companies in the U.S. are sharply focused on digital transformation and adoption of digital health tools, according to a new research report published today by Info...

Business Wire

Healthcare providers and insurers look to digital records and tools to boost quality and efficiency, with GenAI emerging as next major trend, ISG Provider Lens™ report says

STAMFORD, Conn.: $III #DigitalHealthcare--Healthcare companies in the U.S. are sharply focused on digital transformation and adoption of digital health tools, according to a new research report published today by Information Services Group (ISG) (Nasdaq: III), a leading global technology research and advisory firm.

The 2023 ISG Provider Lens™ Healthcare Digital Services report for the U.S. finds that healthcare providers and health insurance companies are increasing their use of digital health tools to enhance the efficiency, accessibility and quality of care. Through integrated electronic health records (EHRs) and patient-facing apps, organizations are monitoring patients more closely, streamlining data-sharing among providers and delivering personalized wellness information to patients.

“A powerful wave of modernization is transforming the U.S. healthcare industry,” said Bob Krohn, partner, Healthcare, for ISG. “As knowledge grows about the social determinants of health, companies are using technology to improve health equity and focus more closely on outcomes.”

Providers and insurance companies are working together to identify the most vulnerable individuals and engaging with communities, homes and workplaces to promote behavioral changes that can improve overall health, the report says. EHRs, machine learning and predictive analytics play critical roles in this process.

Using advanced data models and algorithms, combined with social determinants of health, providers are taking a more holistic and personalized approach to care, including earlier diagnoses and better prevention, ISG says.

A growing number of providers and insurance companies in the U.S. are partnering to provide more cost-effective services, especially under Medicare, the report says. In value-based care focused on outcomes, health systems play a more active role in risk management and incentives to prioritize quality over quantity. This approach is helping providers gain a competitive edge and pursue growth opportunities.

Generative AI (GenAI) is emerging as the next major wave of technology to be adopted in the industry, with many providers committing to major investments in the next five years to develop GenAI solutions, ISG says. These could include GenAI copilots to reduce workloads and ease clinician burnout.

“In the next two years, ISG expects GenAI to have such a broad impact on healthcare technology and economics that every active project will be re-assessed,” said Jan Erik Aase, partner and global leader, ISG Provider Lens Research. “Technology service providers are preparing to help enterprises navigate these changes.”

The report also explores other healthcare technology trends in the U.S., including the rise of integrated health platforms and growing demand for electronic medical record migration services.

For more insights into the challenges facing U.S. healthcare enterprises, including talent shortages and integration of new and existing technologies, plus advice on how to address them, see the ISG Provider Lens™ Focal Points briefing here.

The 2023 ISG Provider Lens™ Healthcare Digital Services report for the U.S. evaluates the capabilities of 39 providers across three quadrants: Payer Digital Transformation Services, Provider Digital Transformation Services and Healthcare Platform Implementation Services.

The report names Accenture, Cognizant, HCLTech, Infosys, NTT DATA, Optum, TCS and Wipro as Leaders in all three quadrants. It names Deloitte and EXL as Leaders in two quadrants each. Atos, Firstsource, IBM, LTIMindtree, Tech Mahindra and UST are named as Leaders in one quadrant each.

In addition, CitiusTech and Persistent Systems are named as Rising Stars — companies with a “promising portfolio” and “high future potential” by ISG’s definition — in one quadrant each.

A customized version of the report is available from EXL.

The 2023 ISG Provider Lens™ Healthcare Digital Services report for the U.S. is available to subscribers or for one-time purchase on this webpage.

About ISG Provider Lens™ Research

The ISG Provider Lens™ Quadrant research series is the only service provider evaluation of its kind to combine empirical, data-driven research and market analysis with the real-world experience and observations of ISG's global advisory team. Enterprises will find a wealth of detailed data and market analysis to help guide their selection of appropriate sourcing partners, while ISG advisors use the reports to validate their own market knowledge and make recommendations to ISG's enterprise clients. The research currently covers providers offering their services globally, across Europe, as well as in the U.S., Canada, Brazil, the U.K., France, Benelux, Germany, Switzerland, the Nordics, Australia and Singapore/Malaysia, with additional markets to be added in the future. For more information about ISG Provider Lens research, please visit this webpage.

A companion research series, the ISG Provider Lens Archetype reports, offer a first-of-its-kind evaluation of providers from the perspective of specific buyer types.

About ISG

ISG (Information Services Group) (Nasdaq: III) is a leading global technology research and advisory firm. A trusted business partner to more than 900 clients, including more than 75 of the world’s top 100 enterprises, ISG is committed to helping corporations, public sector organizations, and service and technology providers achieve operational excellence and faster growth. The firm specializes in digital transformation services, including automation, cloud and data analytics; sourcing advisory; managed governance and risk services; network carrier services; strategy and operations design; change management; market intelligence and technology research and analysis. Founded in 2006, and based in Stamford, Conn., ISG employs more than 1,600 digital-ready professionals operating in more than 20 countries—a global team known for its innovative thinking, market influence, deep industry and technology expertise, and world-class research and analytical capabilities based on the industry’s most comprehensive marketplace data. For more information, visit www.isg-one.com.

Fonte: Business Wire

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