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IT investment will reduce costs

Healthcare Strategist Trend Watch, April 13, 2007

Sixty percent of U.S. hospitals will soon see reduced operating costs, according to New York City-based consulting firm PricewaterhouseCoopers, which published a study in March about the relationship between information-technology investments and operating performance at U.S. hospitals. Facilities that will see these cost reductions have made significant investments in information technology in recent years, the study says.

The report is based on more than two years of research at 2,000 U.S. hospitals. It concludes that investment in information technology will improve hospital business performance and that the investment in IT will eventually pay for itself.

Hospitals have long been known to be behind in technology when compared to other businesses, says David Levy, MD, principal at PricewaterhouseCoopers. The real problem, he says, is that hospitals have failed to take full advantage of IT by making significant clinical and operational process changes.

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