Top 10 Predicted First Time Solution Investments by U.S. Hospitals in 2018: Pharmacy Workflow and CRM
What technologies will we see the most first-time investment growth from U.S. hospitals and health systems in 2018? We continue our countdown of the Top 10 Predicted First Time Solution Investments by U.S. Hospitals, looking at the 8th and 7th ranked technologies.
The predictions are based on installation data for 51 technologies from HIMSS Analytics LOGIC and LOGIC Predict, the predictive analytics engine within the platform. The base was the current footprint of 5,495 U.S. hospitals, 100% of the hospitals in the U.S.
This time around we set our sights on Pharmacy Workflow Systems and Customer Relationship Management (CRM) Systems.
#8 – Pharmacy Workflow Systems
The solution with the 8th most first-time solution investment by hospitals in 2018 is Pharmacy Workflow Systems. Based on our predictions, we expect to see 145 U.S. hospitals buy this technology for the first time in 2018, resulting in a 2.6% increase in adoption. In LOGIC, Pharmacy Workflow Systems are defined as: “…automation that supports the dose preparation process including routing, preparation, inspection tracking and reporting. The intent of these systems is to improve patient safety and increase efficiencies while decreasing waste.”
Other notable information relevant to this Pharmacy Workflow Systems
Pharmacy departments are doing more and more to integrate with other departments as well as collaborate with other pharmacists to deliver better outcomes for patients and stronger bottom lines for their organizations. One such collaboration, the Pharmacy Health Information Technology Collaborative, notes:
Under formal and informal collaborative practice agreements, pharmacists work in collaboration with physicians and primary care providers to help patients, particularly those institutionalized in hospitals, long-term care facilities, as well as ambulatory care patients with chronic conditions, manage their medication regimens in the following ways:
- Performing patient assessments and developing therapeutic plans
- Using their authority to initiate, adjust, or discontinue medications
- Ordering, interpreting, and monitoring appropriate laboratory tests
- Providing care coordination and other health care services for wellness and prevention
- Developing partnerships with patients for ongoing and follow-up care
#7 – Customer Relationship Management (CRM) Systems
The solution with the 7th most first-time solution investments by hospitals in 2018 is Customer Relationship Management. Based on our predictions, we expect to see 149 U.S. hospitals buy this technology for the first time in 2018, resulting in a 2.7% increase in adoption. In LOGIC, CRM is defined as “Customer relationship management software deals with customer lifecycle management, and provides functionality to enterprises in sales, marketing, and customer service through operational, collaborative, and analytical components.”
Other notable information relevant to this Customer Relationship Management (CRM) Systems
- In 2018, 62% of all CRM systems are predicted to be cloud based as opposed to on-premise, according to Forbes.
- Specific to the healthcare market, a Deloitte study predicts that by 2020, global Customer Relationship Management (CRM) infrastructure and understanding of physician preferences will allow tailoring of multi-channel information that will be meaningful to clinicians.
A Forrester study polling 2,000 employees using a CRM system found that:
- 50% of teams improved productivity
- Consultation time was reduced by 10%
- Revenue increased by 2%
- Customer service labor cost was reduced by 40%
- Labor costs overall decreased by 20%