New Report Forecasts 'Churn Activity' for Many Digital and Health IT Solutions Acquired During the Pandemic

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Jun 13, 2023, 08:51 ET

With many expiring contracts on the horizon,
report reveals which digital health solutions hospitals are most likely to re-evaluate

ATLANTA, June 13, 2023 /PRNewswire/ -- Panda Health, an organization dedicated to helping hospitals successfully navigate the digital health market, has announced the release of a new market report assessing hospital leaders' level of satisfaction with the digital health solutions acquired during the pandemic, and the likelihood that they will renew their existing contracts or seek out new vendor partners.

The Great Shakeup report, based on a national survey of hospital C-Suite executives conducted in March 2023 by healthcare consultancy Sage Growth Partners, predicts a significant amount of churn in hospitals' digital health solution vendor usage between now and 2024.

While the digital health solution market was already growing prior to 2020, the pandemic significantly accelerated market growth, as well as technology adoption by hospitals. Hospital leaders who were facing unprecedented challenges, also worked with unprecedented speed to evaluate, select, contract for, and implement new solutions.

Now that hospitals have adjusted to this new post-pandemic state, and as their contract terms for many of these solutions approach expiration, hospital leaders are closely evaluating the impact and results of these implementations.

"At a time when every second mattered, hospitals deployed new solutions quickly in order to support the health of both their patients and their teams. They didn't have the luxury of spending months evaluating options," said Ryan Bengtson, MHSA, President and COO, Panda Health. "Now time is on their side. With more knowledge about what they want, what they need, and what they can expect from digital solutions, the industry should brace for a significant amount of churn."

The report provides exclusive insight and assessments on the levels of satisfaction, rate of renewals, and predicted potential impact of 11 digital health solutions:

Telemedicine/E-visit Solutions
Remote Patient Monitoring Solutions
Digital Care Navigators/Website Chatbots
Digital Care Coordination/Care Journey Tools
Patient Engagement Solutions
Self-Service Patient Scheduling Solutions
Hospital at Home Solutions
Data Lakes and Data Fabric Solutions
Patient Acquisition and Activation Solutions
Digital Patient Intake Solutions
Patient and Employee Wellness Solutions

The Great Shakeup Report is available for download on the panda.health website.

To learn how Panda can help your hospital quickly, confidently, and safely adopt best-in-class digital health solutions like these, contact [email protected]. For more information on Panda Health, or their ability to provide easier, safer, and smarter digital health solution decision making for health systems, visit Panda.health.

About Panda Health
Panda Health transforms how health systems connect with, explore, and adopt leading digital health technologies that improve the lives of patients and providers. Panda's deep market intelligence and personalized guidance de-risks the digital health procurement process. Panda was founded in 2020 through a partnership between CentraCare, Gundersen Health System, and ThedaCare, with the development and investment firm Fitzroy Health.

For More Information
John Gonda
(616)-309-4888
[email protected]

SOURCE Panda Health