Healthcare providers are increasingly focusing on digital tools to improve patient engagement, streamline care navigation, and enhance the overall quality and cost of care. This report evaluates and prioritizes 8 key technology markets for healthcare providers to consider for their digital front door initiatives.
The report uses an MVP Technology Framework to score technologies based on market momentum (number of startups, funding activity, etc.) and industry leader activity (CVC investment, M&A, etc.). The 8 technology markets evaluated are:
- Prioritize (Invest against today): Price estimation & transparency, Remote monitoring
- Vet (Evaluate over the next 1–3 years): Virtual care, CRM, PRM, & messaging, Patient payments, Patient-directed scheduling & navigation
- Monitor (Roadmap for the next 3–5 years): Insurance & benefits discovery, Engagement & education
Key findings and recommendations for each market:
- Price estimation & transparency: With CMS price transparency rules in effect, healthcare organizations should prioritize investing in platforms that provide accurate cost information to patients. Vendors should ensure compliance with the Hospital Price Transparency rule and integrate seamlessly with existing systems.
- Remote monitoring: This market has significant potential to improve patient health and reduce costs. Leaders should prioritize investment, focusing on vendors with proven clinical effectiveness and strong integration capabilities.
- Virtual care: While telehealth is widely adopted, asynchronous virtual care solutions offer opportunities to further engage patients and reduce provider burden. Organizations should carefully evaluate these solutions for clinical value, integration needs, and AI/ML transparency.
- CRM, PRM, & messaging: These tools can enhance patient relationships and improve outcomes. However, many functions are already available in EHRs, so buyers should look for significant additional value and automation features.
- Patient payments: Platforms in this space can improve payment rates and collection. Organizations should carefully evaluate options, considering integration with scheduling, engagement, and insurance tools, and assess the underlying algorithms for propensity-to-pay models.
- Patient-directed scheduling & navigation: These platforms improve efficiency and patient experience. Legacy systems have added functionality in this area, so organizations should first assess their existing options before considering new purchases.
- Insurance & benefits discovery: Real-time eligibility checkers can reduce denials and improve revenue. While some functionality is available in legacy platforms, organizations should monitor startups for innovative solutions and prioritize integration with the EHR.
- Engagement & education: These platforms are crucial for long-term patient loyalty and chronic care management. Many chronic care solutions already incorporate engagement and education tools, so organizations should first assess their existing portfolio before exploring new options.
The report emphasizes the importance of careful evaluation and integration when adopting new technologies. Healthcare organizations should consider their specific needs, existing infrastructure, and desired outcomes when making investment decisions.