Digital Health Technology Report: Accelerating Adoption in 2024 with Extraordinary Solution Selection Challenges
The digital health landscape is rapidly evolving, with a recent report indicating that the adoption of digital health solutions will accelerate in 2024. However, hospital and health system leaders are facing extraordinary challenges when it comes to selecting the right solutions for their organizations.
According to the third annual Digital Health Technology Report released by Panda Health, a digital health intelligence platform, and marketplace, hospital leaders are increasingly prioritizing digital transformation initiatives as economic pressures begin to ease. The report, based on a survey of 100 hospital leaders conducted in December 2023, reveals that 67% of respondents expect their digital health technology budget to increase this year.
Despite the growing recognition of the benefits of digital transformation, hospital leaders are also grappling with unprecedented levels of risk and complexity in selecting the right solutions. The oversaturated vendor market, combined with the recent failures of well-known companies, has made decision-making challenging for C-suite executives.
The report’s key findings highlight the urgency for hospital leaders to navigate the digital health market with caution. While 95% of leaders consider digital transformation a priority, 75% express concerns about finding unbiased market intelligence and struggle with the lengthy process of identifying, evaluating, and implementing new digital solutions.
Dan D’Orazio, CEO of Sage Growth Partners, emphasized the importance of additional support and unbiased information for hospital leaders to make optimal investment decisions in the digital health space. As the demand for digital health solutions continues to grow, organizations like Panda Health are playing a crucial role in connecting hospitals and digital health companies for safer and more effective decision-making.
For more information on the 2024 Digital Health Technology Report and how Panda Health is supporting hospitals in their digital transformation journey, interested parties can contact [email protected] or visit Panda.health. With the healthcare landscape rapidly evolving, the need for informed and strategic digital health investments has never been more critical.