Survey reveals attendees are postponing AI and IT initiatives as budget constraints shift focus to internal system challenges, with unproven AI tech viewed as a high-risk purchase before 2026
LAS VEGAS, October 20, 2024 (Ecnetnews.com)
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In anticipation of HLTH 2024, a recent survey conducted by Black Book Research indicates that many attendees, primarily health system and payer executives, are focusing on evaluation rather than immediate purchasing decisions.
Among the nearly 300 attendee respondents who self-identified as potential buyers, many characterized their attendance as primarily “window shopping” or “tire kicking,” aiming to assess generative AI, emerging machine learning technologies, cybersecurity, and post-acute care innovations for potential purchases in 2026 or later. Notably, 244 out of 295 respondents confirmed that their organizations do not have firm plans to make direct investments in broad scale AI or to replace currently ineffective solutions including EHRs or Revenue Cycle software before mid year 2026.
“This trend underscores the industry’s cautious approach to adoption, as decision-makers emphasize thorough due diligence and careful evaluation while navigating the fast-evolving healthcare technology landscape, with new breakthroughs in AI and large language models emerging monthly,” said Doug Brown, Founder of Black Book Research.
With the conference audience focused on exploration and collaboration, a significant majority of attendees have confirmed they are seeking to engage in strategic learning and decision-making (38%), evaluate vendors and their solutions to deepen their understanding of market options (71%), and explore a wide range of innovations (85%) that could drive their organizations’ digital transformation in healthcare, while identifying potential partners in this pursuit.
“This presents a fantastic opportunity for HLTH exhibitors and presenters to showcase their cutting-edge solutions and insights, capturing the attention of a motivated audience ready to embrace advancements that can enhance healthcare delivery,” said Brown. “The atmosphere at HLTH is poised to be one of curiosity and inspiration, fostering meaningful conversations that can drive the industry forward.”
Key findings from those polled prior to arriving in Las Vegas this week highlight the top three most sought-after solutions and speakers:
Verifying Genuine Generative AI and Large Language Model Solutions
At HLTH 2024, AI will take center stage as attendees eagerly explore its potential to enhance healthcare delivery—though many are not ready to commit to immediate implementation. The conversations will likely focus on practical applications of AI that streamline workflows, improve care coordination, and expand patient access, all while addressing concerns around the transparency and accuracy of large language models. Attendees will be keen to “kick the tires” of various AI vendors, looking for innovative solutions that can transform care management and support a proactive approach to health rather than a reactive one. While the excitement around cutting-edge technologies is palpable, many will be focused on understanding how these advancements can lead to tangible outcomes, driving efficiency and improving patient experiences without rushing into decisions. This environment fosters meaningful exploration, allowing healthcare leaders to gather insights and evaluate potential solutions for their organizations.
“Special attention will be given to voice transcription AI services and LLM AI, particularly those fine-tuned on clinical data,” adds Brown. “This also underscores the lack of transparent vendor evaluation services in this area, commonly referred to as LLM evaluation criteria.”
Cybersecurity Resurgence
In light of recent cybersecurity breaches in the healthcare sector, including incidents involving Change Healthcare and CrowdStrike, 77% of attendees at HLTH 2024 state they will prioritize identifying solutions to combat ongoing threats to cybersecurity and patient privacy. “A significant theme will be the importance of redundancy in health technology, which involves duplicating essential system components to maintain functionality during failures,” said Brown. As technology supports every aspect of care—from Electronic Health Records (EHRs) to ePrescribing networks—system outages can disrupt patient care and compromise clinical outcomes. Thus, redundancy is crucial for the reliability of health information systems. Providers and payers must recognize that neglecting backup measures exposes them and their patients to risks like data loss and cyberattacks.
By integrating redundant systems with advanced cybersecurity protocols, healthcare organizations can ensure continuity of care and protect sensitive personal health information. “At HLTH 2024, attendees seek discussions will focus on how to incorporate redundancy into IT infrastructures while adopting comprehensive cybersecurity strategies, especially as the industry embraces digital health solutions, remote patient monitoring, and AI technologies that rely on secure information systems,” said Brown.
Maximizing the Potential of Clinical Data
At HLTH 2024, attendees anticipate a strong emphasis on the urgent need for hospitals and payers to adapt and transform their approaches to leverage structured clinical data for greater value across the healthcare industry. “Payers are beginning to shift away from exclusive reliance on claims data, recognizing the necessity of utilizing clinical data to enhance risk adjustment, streamline prior authorization, improve care management, and strengthen payment integrity,” adds Brown. “However, many healthcare organizations still grapple with significant challenges, such as poorly integrated EHRs and a lack of interoperability.”
This transformation is largely driven by advanced AI technologies that extract actionable insights from the vast amounts of unstructured data within EHRs—an estimated 80% of clinical data. This shift is significant, as it marks a turning point in realizing the full potential of previously underutilized clinical data. By harnessing AI and machine learning, both payers and providers can make smarter decisions that enhance outcomes, reduce inefficiencies, and ultimately improve patient care.
As the industry confronts challenges such as cyber threats, system failures, and fragmented data systems, integrating redundancy and robust data management strategies becomes imperative to maintain secure and operational healthcare systems under pressure. This holistic approach will facilitate more effective healthcare delivery and a seamless patient experience.
“HLTH 2024 presents a pivotal opportunity for healthcare leaders to engage in thoughtful exploration of the latest technological advancements while emphasizing the importance of strategic decision-making. As attendees focus on evaluating generative AI, enhancing cybersecurity measures, and maximizing the potential of clinical data, they are also confronting the challenges that have hindered progress in the past,” adds Brown. “With a collective emphasis on collaboration and innovation, hospitals and payers are encouraged to rethink their strategies, prioritize redundancy and interoperability, and invest in solutions that can lead to improved patient outcomes. As the healthcare landscape continues to evolve, the insights gained at HLTH 2024 will be instrumental in guiding organizations toward a more resilient and effective future.”
About Black Book
Black Book™ maintains an objective and unbiased stance in its vendor satisfaction surveys, as neither its founder, management, nor staff have any financial interests in the vendors being evaluated. Results from these satisfaction and client experience rankings are published and shared with the media before notifying the vendors, ensuring transparency. Importantly, Black Book does not charge vendors for participation, reviews, or any form of collaboration, relying solely on direct polling of clients.
Since 2010, Black Book has surveyed over two million users in the healthcare software and services sector globally. Its reputation for independent, unbiased crowd-sourced surveying has expanded to encompass various professionals, including IT, clinical, operational, and financial staff, as well as physician practice administrators and hospital IT managers.
About HLTH 2024
HLTH 2024, taking place from October 20 to 23 in Las Vegas, promises to be a significant event in the healthcare technology landscape. HLTH 2024 will introduce new elements like the AI Pavilion and various specialty summits. Attendees can expect immersive experiences, enhanced networking opportunities, and discussions aimed at tackling key healthcare challenges and innovations. For more details, you can visit the official HLTH website.
Source: Black Book Research
