High Vendor Churn May Be On the Horizon in Healthcare

During the COVID-19 pandemic, dozens of technologies were rapidly acquired and deployed by healthcare organizations like telehealth, remote patient monitoring and digital patient intake. According to a new report from Panda Health, now that the pandemic has subsided, organizations are revisiting those purchase decisions. Seven solution categories were identified as likely to experience moderate to high levels of churn in the next two years. Healthcare IT Today sat down with Ryan Bengtson, President and COO at Panda Health to dive deeper in to their Great Shakeup Report. Pandemic Drove Rapid Health IT Adoption According to Bengtson, healthcare organizations were rushed into deploying Health IT solutions to meet their needs during the pandemic. Most organizations did not have the time or resources to do the appropriate level of process redesign, change management or technical integration that they would typically do when adopting these types of solutions. “Some may now feel that they chose the wrong solution in a hurried fashion and may reconsider their choice as those contracts expire,” explained Bengtson. “In other cases, they may feel they chose the right solution, but did not necessarily deploy it in the best manner. Those organizations can now go back and make adjustments.” High Churn Expected The Great Shakeup Report identified eleven solution categories that experienced a high level of acquisition during the pandemic. Of those, seven categories are now expected t...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: Ambulatory Healthcare IT Hospital - Health System Revenue Cycle Management Telemedicine and Remote Monitoring Health IT churn healthcare vendor consolidation Panda Health Ryan Bengtson Telehealth The Great Shakeup Report vendor churn Source Type: blogs