Modern Healthcare May 18, 2019
Health systems spent millions on digital innovation in 2018, according to Modern Healthcare’s most recent Power Panel survey of top CEOs.
More than a third of the 26 CEOs responding to the survey said they spent between $5 million and $19.9 million on digital innovation last year. About 30% spent up to $4.9 million on those types of projects. Only two CEOs said their health systems had spent $100 million or more.
Digital innovation is undoubtedly expensive. Electronic health record systems alone—which many systems treat as the foundation to new technology programs, given the hefty amount of data they hold—can cost millions of dollars, when taking into account all of the expenses, such as purchasing the software and training personnel.
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