An IDC Health Insights report in 2016 examined the results of the 2015-2016 Healthcare Provider Technology Spend Survey, which revealed that 40% of providers reported that their IT budgets are expanding. The survey specifically examined technology spending and planned technology spending by U.S. acute care hospitals with more than 200 beds.
Key findings from the report include:
- Across all of the technologies examined in the survey, providers are taking advantage of more cloud implementations and leveraging mobile and analytics capabilities in the cloud. While 50% of software spending growth is still directed towards on-premise investments, survey respondents reported that 18% of new software spend is going into software as a service (SaaS) and 24% is going into projects that leverage managed hosting by a third party.
- Comfort levels with the cloud are growing. Across all hospitals, 30% of the respondents said they were comfortable with the cloud in 2014, while an additional 41.5% of respondents said they were more comfortable with cloud in 2015 than they were in 2014.
- Analytics spending continues to grow and big data is here to stay. Analytics continues to be one of the fastest-growing segments of the provider IT budget in 2016, as it has been for several years. Hot areas of new analytics investment include provider and care team performance analytics, as well as other financial analytics areas.
Both Questica Performance and Questica Budget represent proven COTS (commercial off-the-shelf) software solutions that are available as cloud-based platforms. In a cloud deployment, the Questica solutions are installed at the Questica data center and Questica assumes full responsibility for all aspects of the environment including the hardware, the operating system, the SQL Server database and Questica software subscriptions.
Questica Performance allows hospitals to establish and manage objectives, leveraging financial and statistical data from any number of sources to effectively measure performance. Simply put, Questica Performance will improve a hospital’s efficiency and effectiveness. Scorecards are a built-in method for the ongoing monitoring of measures, making use of the green/yellow/red thresholds via at-a-glance Dashboard displays.
Questica Budget is a web-based budgeting tool that provides a controlled environment for budget input, review, approval and maintenance. Questica Budget offers one point of data entry and seamless integration with a hospital’s financial system.
Questica currently manages over $55 billion in annual public sector budgets. If your hospital is considering cloud deployment for your finance-focused applications or is planning an investment in performance analytics or other financial analytics areas, take a step further and request a demo of the Questica solutions.