Change Healthcare-HCEG Research: COVID-19 Reshuffles Healthcare Executives’ Priorities
Executives are accelerating digital and payment transformation, increasing focus on consumer-centric and value-based care, and boosting healthcare IT investments as a reaction to the coronavirus pandemic, according to a new study from
The Industry Pulse COVID-19 Flash Report, published today, reveals how healthcare leaders are accelerating digital and payment transformation, with an emphasis on the consumer experience, telehealth, and interoperability. As a result, stakeholders are increasing investment in healthcare IT and fast-tracking initiatives to help prepare for the pandemic’s aftermath and future pandemics. One priority which did not change: privacy/security, which remains front and center for C-suite survey respondents, especially as the industry migrates towards a digital future.
Researchers presented 288 healthcare leaders with the 2020 HCEG Top Ten, a list of priorities compiled by the
“Healthcare executives are re-thinking everything––from how and where care is being delivered to how it is being reimbursed,” said
Among the key findings from the Industry Pulse COVID-19 Flash Report are:
- Consumer-centricity is now front and center. Consumer Experience is now the #1 priority, with Accessible Points of Care (telehealth, mHealth, wearables, retail clinics, etc.), Healthcare Policy, and Social Determinants of Health all moving up the list. Both payer (64%) and provider (53%) majorities indicate a stronger interest in and accelerated adoption of consumer-centric healthcare.
- COVID-19 is driving increased interest in payment transformation. Nearly half of respondents (49%) said the pandemic has increased interest in adopting value-based care. While payers show slightly more interest (52%) than providers (47%), they are very closely aligned overall. This is amplified in the C-suite with 47% of payer and a striking 67% of provider C-suite executives indicating COVID-19 has increased their interest in value-based models.
- Respondents are bullish on increasing IT budgets to support re-prioritization. The majority of payers (67%), providers (57%), and consultants/vendors (78%) said the pandemic has caused them to increase their outlook for investment in healthcare IT. Only 6% of payers, 14% of providers, and 14% of consultants/vendors reported likely IT budget reductions due to the coronavirus pandemic.
- Payers and providers believe new CMS and ONC rules will have a positive impact on preparedness for a future pandemic. The majority of payers (58%) and providers (53%) believe the CMS Interoperability and Patient Access final rule and the ONC Information Blocking rule for providers, both planned for 2021, will make it easier for the industry to respond effectively to a future pandemic.
Comparing the Industry Pulse COVID-19 Flash Report’s results to the 2020 HCEG Top Ten list, one item of concern stands out: Privacy/Security remained unchanged in its ranking, holding its lower Top 10 position in both the original 2020 HCEG Top Ten and the new Flash report.
“We have seen more change in 10 weeks than we have in the last 10 years, but privacy and security didn’t budge on the list, which indicates it is still not being taken as seriously as it should be,” said
To compile the report, InsightDynamo researchers surveyed 288 stakeholders from healthcare providers, health plans, technology vendors, consultants, and other organizations between June and
The full Change Healthcare-HCEG Industry Pulse COVID-19 Flash Report can be accessed at https://inspire.changehealthcare.com/Industry-Pulse-Results-2020.
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