TAMPA, Fla., Jan. 26, 2021 /PRNewswire/ -- The COVID-19 pandemic is forcing hospitals and physician organizations to extend patient-centered care to alternative sites and consumers' homes, and the need for seamless delivery of integrated records via cooperating technologies has taken center stage.
Black Book's intensive study of data activation platforms and data management systems included the input of technology, clinical and financial leaders in hospitals, physician organizations, health plans, government agencies, ancillaries, payers, and employer groups, and was scored by 1,795 health participants in the crowdsourced survey from April 2020 to January 2021.
Ninety-two percent of healthcare leaders surveyed revealed their organizations are prioritizing data integration planning in 2021 yet less than fifteen percent have allocated funds to address the issue this budget year. In March 2020 at the start of the pandemic, two new rules were mandated to implement interoperability and patient access provisions of the 21st Century Cures Act. The rules promote FHIR as the foundational standard to support data exchange in healthcare putting provider IT users on alert.
According to healthcare leaders surveyed, their need for integration is driven by rising healthcare provider costs including locating and avoiding duplicate and unnecessary procedures (90%), the growing volume of healthcare consumer data (91%), consumer demand on providers for health results (93%), and gaps in clinical device connectivity (95%).
Despite the rising need to reduce healthcare expenditure by using advanced operational technologies, there remains significant concerns related to data privacy hampering global healthcare IT integration market growth according to 88% of technology executives polled.
"There is nothing more critical now to the successful delivery of patient-centered care than secure data delivered through seamless interoperability," said Doug Brown, President of Black Book Research.
Additional impediments to immediate data integration initiative for most providers according to survey respondents are the anticipated high cost of healthcare IT data integration (89%), integration of IT data sets among disparate IT and software companies (76%), and interface issues with core electronic health records and revenue cycle management vendors (30%).
Black Book Research announced that San Francisco-based Innovaccer achieved the top honor for highest user experience and outcomes in the annual customer polls and competitive research of thirty-one data activation platforms, data integration and interoperability solutions. The IT leader achieved top client ratings across thirteen of eighteen key performance indicators including top cybersecurity and data privacy efforts.
"The COVID-19 pandemic has proven how crucial it is that healthcare consumers and patients have access to their integrated medical data when they need it the most and in a way they and their providers can best use it," said Brown.
The healthcare technology integration and data platform arena is expected to reach a global market size of USD 7.0 Billion by 2026 and convey a notably high 12.5% CAGR over the projected period, according to latest surveys by Black Book Research.
About Black Book
Black Book™, its founders, management and staff do not own or hold any financial interest in any of the vendors covered and encompassed in the surveys it conducts. Black Book reports the results of the collected satisfaction and client experience rankings in publication and to media prior to vendor notification of rating results and does not solicit vendor participation fees, review fees, inclusion or briefing charges, and/or vendor collaboration as Black Book polls vendors' clients.
Since 2004, Black Book™ has polled the vendor satisfaction across over 30 industries in the software and services sectors around the globe. Black Book's mission is to improve healthcare delivery by expanding the stakeholder's voice from the front-line employee, IT and financial managers, clinical and nursing staff through the C-Suite and Board, as well as healthcare consumers.
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SOURCE Black Book Research