Will VIVE25 Have The Same Theme As JPM25?
Healthcare finances have been steady in the past few months, and many healthcare provider's primary focus is getting back to basics and improving core health service offerings while decreasing expenses. JPM25 did not have any new surprises, and I wonder if the VIVE25 event will have the same themes and discussion below.
Health System Expansion
Expansion is still on the radar as organizations expand their market share, have a bigger pool of patients for value-based care, and extend their reach. Capital investment to build out outpatient access is substantial. The expansion may include ASCs, urgent care centers, outpatient imaging centers, and physical therapy clinics to provide community members with quality services on demand. By building a robust ambulatory network and proprietary physician networks, health systems can reduce patient leakage and improve the patient experience.
For example, Sutter Health plans to invest $800M in two new outpatient medical campuses, which will allow CIOs to upgrade legacy technology and enhance patient experiences with self-service features.
Technology leaders should avoid traditional connectivity while using 5G/6G technology in the infrastructure. New construction allows healthcare CIOs to get it right from the start, eliminating the constant need to catch up and improve outdated infrastructures.
Application Rationalization
Large health systems are consolidating their technology stacks to create a unified operational standard. Application rationalization is a hot theme. For example, CommonSpirit Health is consolidating disparate EMR and ERP into a single platform. The organization focuses on its technology and national programs—advancing these initiatives systemwide with a nursing residency program, a virtually integrated care model, patient connection centers, virtual patient monitoring centers, and a digital consumer experience platform.
Like 2024, healthcare CIOs will still be deeply involved in enterprise system implementation. Over the next few years, they will focus on cloud ERP upgrades or system conversions, as many health systems face decisions about aging ERP systems. CIOs must choose between upgrading to a modern cloud ERP or transitioning to a different ERP cloud vendor. Consolidating applications while transitioning to a new enterprise system is a big focus for healthcare CIOs, along with other priorities.
AI Partnership 2.0
We will not have a healthcare conference in 2025 without bringing up AI solutions and AI integration. Health systems are investing in AI ambient solutions to reduce physician documentation time. A recent report by Rock Health reveals that AI solutions will continue to dominate investor and enterprise attention in 2024. AI-enabled digital health startups secured 37% of the year's total sector funding through 191 deals. However, a study by NEJM suggests that the tool did not make clinicians as a group more efficient. As I have shared, will AI show a positive ROI, or is it a shiny object?
The insights from VIVE25 heighten the crucial role of a strong CIO in guiding healthcare organizations as they navigate an increasingly technology-driven landscape. With the growing reliance on innovative solutions, successful healthcare CIOs must focus on adopting new technologies and staying aware of market trends in healthcare. Balancing these responsibilities is key to leveraging technology for a competitive advantage.