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IT growth strong in ACO startups

October 01, 2012
Uncategorized By LW Consulting Inc.

The healthcare industry is regularly impacted by the increasing amount of technology available to hospitals, physicians and insurers. With many in the medical field looking to create accountable care organizations (ACOs), executives have embraced the changes with open arms.

A recent survey released by market research company Black Book found that 96 percent of ACOs are acquiring new technology and startups are predicting $500 million worth of expenditures within the first year.

Some things included in these implementations are electronic health record systems (EHRs), e-prescription software, data security systems and clinical decision support, according to an article from Healthcare IT News.

"The rapid adoption of HIE, bundled revenue cycle management, business intelligence and clinical decision support systems are clearly driven by accountable care implementation, meaningful use implementations, the need for care coordination, outcome based reimbursement challenges, available funding and opportunities for regional stakeholder participation," Black Book's senior partner, Doug Brown, said to the source.

Although, the report went on to say that less than 7 percent of ACOs indicated that they are executing a synchronized stakeholder strategy for information technology. This is due in large part to a lack of available funds and/or expertise. As such, 88 percent of ACO leaders said that they plan on working with a healthcare consultant to properly identify technology needs and make the right system selections.

The Black Book survey also found that 39 percent of ACO respondents are planning on making most technology purchasing decisions as quickly as possible, before the third quarter in 2013.

With so many technologies becoming more readily available, medical facilities should work with a hospital consultant who is well-versed in healthcare IT consulting. Additionally, this will benefit employees at all levels, ensuring that the organization stays HIPAA compliant and that patient safety is always a top priority.