64 percent of healthcare executives say EHRs have failed to deliver better PHM tools, and about half claim they would be willing to switch EHRs to get these capabilities, according to new data from Sage Growth Partners (SGP).
The EHR market is maturing at the same time that value-based care has grown more permanent roots. As the inpatient EHR market begins to consolidate, SGP conducted an online survey of 100 healthcare executives (87% C-suite) to understand their perspectives about what EHRs can – and can’t – do well to give them what they need in today’s environment.
Other key findings from the survey include:
The EHR market is maturing
70% of providers have had an EHR for at least three years and roughly half also have third-party PHM solutions
General EHR satisfaction is greater than satisfaction with EHRs’ ability to deliver the capabilities executives need to succeed in VBC
VBC needs are not being met
64% of providers believe EHRs have failed to deliver many critical VBC tools
Less than 25% of providers believe their EHRs can deliver on core KLAS criteria for VBC
60-75% of providers are seeking third-party solutions outside their EHR for VBC solutions
EHRs have traction; the PHM market is unsettled
65% are somewhat/highly unlikely to replace their EHR in three years
50% or respondents are somewhat/highly likely to switch out their PHM vendor in three years
VBC ROI attributed to PHM, though budgets are modest
Compared to the significant investment in EHRs, investments in PHM tools are modest; 31% have a PHM budget of less than $100,000
76% have realized ROI with VBC and 46% of these respondents believe that a third-party PHM solution beyond the EHR was critical to success