As labor costs continue to rise and patient volumes continue to decrease, hospitals and health systems are operating with tighter margins than ever, which is leading them to buy less technology.
“What a hospital or health system is willing to buy is a pretty narrow set of products,” Rebecca Springer, senior health analyst at Pitchbook told Politico.
But, Ms. Springer said tech spending in areas such as staffing, digital therapeutics and chronic conditions is still strong.
This comes after Pitchbook released a report on March 10 detailing that venture capital investments for digital health in 2022 was down to $7 billion, a 55 percent decrease from 2021 when investments totaled $15.6 billion.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.