Value-based payment models continue to gather steam in the healthcare sector overall, but information technology vendors in the behavioral health space aren’t sure that the providers they work with are ready for the shift.
Of the 64 organizations who participated in the annual Behavioral Healthcare IT Vendor Survey this year, 59% believe providers are not prepared to transition from fee-for-service to a value-based payment model. Only 23% believe providers are prepared, while the remaining 18% are unsure.
Whether it’s implementing electronic health records (EHRs) to efficiently share patient information, data analytics tools to measure performance or billing software that cuts through the red tape, technology plays a critical role in a value-based payment model. To that end, IT vendors are placing a high priority internally on developing better products and services. Asked what their biggest priority is for 2017, 45.2% say research and development of new products/services sits atop the list, while 30.6% say they’ll look to upgrade their existing offerings.
Of the vendors surveyed, 96.8% work with outpatient providers, so it’s no surprise, then that 35.1% say outpatient care providers are the most likely service area they’ll look to grow next year.
In this annual survey report—now in its sixth year—we have included snapshots of each of the IT organizations that participated. Our complete database of survey responses, which includes additional information about the participating vendors, their products and services, and their plans moving forward, can be downloaded for FREE below.