ICD-10 and population health management are more than just buzzwords for healthcare providers in 2015. More healthcare systems are projected to invest in those two areas than in any others, according to a survey conducted by peer60. The polled group represents 25% of the American hospital market, and four-fifths of the respondents were C-suite hospital executives.
Nearly 60% of hospitals are going to spend money on ICD-10 preparations in the remainder of this year, and more than half will make purchases to support population health management. Patient engagement will be the third most common area of investment for providers in 2015, coming in at just under 50%. Revenue cycle management was the only other business segment that greater than 30% of respondents indicated they would fund this year.
Healthcare spending in 2015 will vary depending on the size of the facility. For hospitals with 250 or fewer beds, ICD-10 migration expenses were the most recurrent survey answer. Representatives from larger hospitals most frequently mentioned their organizations would allocate some funds toward population health management.
The peer60 survey report also separated EHR market share according to the size of participating hospitals. Computer Programs and Systems, Inc. and eClinicalWorks, LLC lead the less-than-100-bed market, with each in business with 20% of such facilities. Meditech, Inc. is tops in the 100-to-250-bed range with 40% of the market there.
EHR vendors looking to do business with midsized hospitals are chasing McKesson Corp. and Siemens AG, as those two companies lead the competition in the 251-to-500- and 501-to-1,000-beds sectors. Epic Systems Corp. and Cerner Corp. are neck and neck for the biggest market share among hospitals with more than 1,000 beds — with each holding 30% of that group.