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Decision Insights 2020
National Trends
Author
Taylor Davis
Author
Sam Eaquinto
In 2019, KLAS collected insights regarding 1,202 HIT purchasing decisions. These insights came from 722 healthcare organizations who had recently purchased or who were planning to purchase a software solution. Some of the market segments with increased purchase energy in 2019 include credentialing, internet of medical things, business intelligence, and payer care management.
Decision Insights help healthcare organizations understand which vendors have market energy and why other organizations are considering these vendors.
Decision Insights are not designed to be a comprehensive census or win/loss market share study.
Decision Insights data is currently available online for 30+ software market segments, including the ones listed here. For access to this data, click on the links below:
Acute Care EHR—Global (Non-US)
Automated Dispensing Cabinets
Care Management Solutions (Payer)
Enterprise Resource Planning (ERP)
Healthcare Business Intelligence & Analytics
Internet of Medical Things (IoMT)/Medical Device Security
IV Workflow Management
Patient Accounting & Patient Management
Population Health Management
Practice Management
Smart Pumps
VNA/Image Archive
Increased Purchase Energy in Credentialing, Internet of Medical Things (IoMT), Business Intelligence, and Payer Care Management Solutions
In 2019, KLAS collected insights regarding 1,202 HIT purchasing decisions. These insights came from 722 healthcare organizations who had recently purchased or who were planning to purchase a software solution. Some of the market segments with increased purchase energy in 2019 include credentialing, internet of medical things, business intelligence, and payer care management.
The graphics below show how many times a vendor in each segment was considered, was selected or the likely choice, was being replaced, and was potentially being replaced but also being considered.
Purchasing Drivers by Market Segment
Different factors drive purchasing energy in different markets. The chart below details the most common purchasing drivers in each market segment where KLAS has interviewed at least 20 unique organizations about plans to purchase new software.
Highest-Energy HIT Vendors: Who Satisfies and Keeps Their Customers?
In decisions across the entire HIT software spectrum in 2019, 32 vendors received at least 15 considerations. These vendors with high market energy may or may not be direct competitors with each other. Only 7 of the 32 can also boast both high customer satisfaction (overall performance score above 85) and high customer retention (>90% of current customers on go-forward solution planning to stay).
Integration and Innovation Correlate with Higher Consideration Rates
Most Replacement Decisions Still Hinge on Functionality, Consolidation, and Integration
As healthcare providers seek reliable systems that streamline their workflow, functionality, consolidation, and integration remain the top three most common reasons organizations replace their HIT solutions. Support and cost/price were both mentioned more often this year than last year as major replacement decision factors, but cost/price still remains outside the top 5.
Writer
Amanda Wind Smith
Designer
Natalie Jamison
This material is copyrighted. Any organization gaining unauthorized access to this report will be liable to compensate KLAS for the full retail price. Please see the KLAS DATA USE POLICY for information regarding use of this report. © 2024 KLAS Research, LLC. All Rights Reserved. NOTE: Performance scores may change significantly when including newly interviewed provider organizations, especially when added to a smaller sample size like in emerging markets with a small number of live clients. The findings presented are not meant to be conclusive data for an entire client base.