Navigating Digital Transformation in Healthcare with a Platform-based Approach

The healthcare industry is in the midst of a digital revolution driven by an explosion of data. Today, the healthcare sector generates approximately 30% of the world’s data volume. This figure is set to skyrocket, with the compound annual growth rate of data for healthcare projected to reach 36% by 2025. The exponential growth emphasizes the urgent need for the healthcare industry to actively leverage advanced technologies and harness the power of data analytics.

Digital transformation in the healthcare industry cannot be overlooked. Despite significant investments in digital transformation, healthcare organizations are still in the intermediate stages of digital maturity and enterprise connectivity. The primary obstacle is the insufficient leverage of data, which results in a lack of a comprehensive patient view and trust. Thus, it’s clear that we need to address these challenges to move forward.

Challenges of digital transformation in healthcare

EdgeVerve commissioned Forrester Consulting to conduct a custom study with 105 business and IT decision-makers from healthcare firms to understand the effectiveness of digital transformation initiatives and the adoption of platform-based strategies.

33% of healthcare decision-makers strongly believe their digital transformation efforts have been successful in achieving desired business outcomes.

Read the Industry Report

Digital transformation success remains elusive due to the lack of a data-driven culture, data rigor, and process inefficiencies.

Here are a few challenges:

Healthcare firms should thus prioritize leveraging advanced technologies and data analytics to overcome the challenges in their transformation journey.

Unleashing the transformative power of AI in healthcare

The custom study also indicates that 84% of organizations highlighted the critical need to harness emerging technologies to create customer and business value. Still, healthcare firms cannot fully leverage AI capabilities due to insufficient data readiness, skillsets, and understanding of technology.

How can healthcare companies improve healthcare experiences amidst legacy technologies, looming recessions, legacy technologies, and workforce shortages?

Through the utilization of AI, healthcare providers can not only analyze and store vast amounts of data but also derive invaluable insights for enhanced decision-making. This continuous testing, iteration, and optimization of digital assets can empower healthcare organizations to outperform their competitors. The value of data is pivotal in overcoming challenges such as data inaccuracy and biases, incorrect diagnoses, misinformation, and inadequate care recommendations, paving the way for a more efficient healthcare system.

It’s also crucial to recognize the hurdles that healthcare firms encounter in scaling AI usage, from the difficulty of operationalizing AI models at scale to the growing data security threats. These challenges, while substantial, can be overcome with the right strategies and technologies in place.

Therefore, to maintain a competitive edge, healthcare firms must prioritize data analysis and integration by leveraging emerging technologies to enhance the overall patient experience. The correlation is clear: Healthcare firms that have successfully embarked on digital transformation journeys have witnessed a significant increase in the adoption of AI and automation capabilities, highlighting the urgency and importance of this transition.

Digital transformation use cases for healthcare firms

According to the study, 88% of healthcare organizations are looking to improve customer experience—a top driver for digital transformation efforts. However, 69% have yet to witness customer impact, and 64% face poor CX due to process inefficiencies. The reasons for low CX are siloed processes and limited AI adoption. For example, AI can be used to automate appointment scheduling, thus reducing wait times and improving patient satisfaction.

Below are a few digital transformation use cases that drive CX, operational visibility, and efficiency.

The way ahead: Accelerate digital efforts with a platform-based strategy

72% of healthcare decision-makers believe that embracing a platform-based strategy that unifies and orchestrates business and technology will drive business growth, enhance customer delight, and unlock efficiencies at scale. Furthermore, 75% are looking to leverage data insights to help build a connected ecosystem across the organization internally and externally to:

Given the current priority for healthcare providers and vendors to adopt a human-centered technology approach that supports patients and workers, there is an urgent need to embrace an AI-driven, platform-based approach. This approach not only aligns with the industry’s current focus but also paves the way for future advancements.