Most providers are focused on trying to survive, much less thrive. DeWitt helps CIO's and CEO's solve this problem in highly competitive markets. Many times, we are asked to engage because larger firms that were there before us could not get the job done. With over 20 years of experience, DeWitt has become a safe bet in an industry known for failure.
We have been able to identify 3 leading root causes of healthcare technology failure.
1. An inability of companies to leverage technology.
Often, when we do our proprietary assessment, we find that technology gets stalled because:
- existing technology is reliable, but not being used effectively to combat rising costs and cut down on repetitive low-value tasks; or
- the technology was purchased but not tied to optimization and adding value to the organization.
Leadership fails to paint a clear picture of how the technology ties into overall company performance and is unable to secure an ample budget. As a result, the organization is unwilling to invest in technology because they don't see a clear ROI or value despite the need.
These issues are easy to correct when everyone gets on the same page.
2. Understanding what future technology to invest in to stay competitive.
Executives are facing staffing shortages, decreasing reimbursements, growing competition, and pressures to seek M&A alternatives.
These issues, combined with the advancement of telemedicine, digital therapeutics, artificial intelligence, and robotic process automation, muddy the future roadmap.
3. The ability to retrain and enhance workers' skillsets to keep pace with new technology.
A recent report from PWC stated that 45% of executives say their workforce's capabilities are a significant barrier to organizational change.
Any technology advancement requires the organization to update their skillsets needed to make the change and is why many technology enhancements die on the vine without ROI on the investment.
Historically, companies that solve these three issues thrive in today's challenging environment. Conversely, companies that fail to address these issues result in bankruptcy or are on life support.