It's no secret that rising costs have hit every industry, including healthcare. As many individuals and families worry about paying more for essential needs, such as food, clothing, and utilities, they tend to cut back on spending wherever else they can. Unfortunately, this means that many delay medical treatment and routine checkups. This could cause long-term challenges for the individual. While patient care is the most important factor, the lack of visits also may mean reduced revenue for healthcare providers.

Meanwhile, most healthcare organizations also continue to experience labor shortages and higher supply costs. A recent report in Newsweek warns there are no easy answers and no “magic bullet” solutions to this scenario. However, there's one thing healthcare providers shouldn't do, and that's reduce their technology spending, according to Gartner research. A better response would be to review and optimize IT costs in order to adopt new technologies that help improve efficiency, while reducing unnecessary costs.

In other words, it's time for healthcare businesses to shift from volume to value.

Here are some ways healthcare organizations can work toward greater efficiency:

Improve Telehealth Services
Telehealth continues to transform healthcare delivery. Recent updates show that telehealth services have expanded significantly, with the market projected to grow from $161 billion in 2024 to nearly $800 billion by 2032, at a compound annual growth rate (CAGR) of 22%. Telehealth not only reduces gas emissions from commutes but also saves patients on travel and out-of-pocket costs. By innovating and updating telehealth technology, medical organizations can appeal to and assist more customers, increasing their revenue. An efficient telehealth system also reduces clinical staff costs and clinical burnout.

Build Analytics Competency
Analyzing big data allows healthcare institutions to discover meaningful insights that empower them to optimize care, set future goals, improve their marketing, and offer more value to patients in a shorter amount of time. For example, electronic health records (EHRs) continue to play a pivotal role in reducing costs by eliminating unnecessary tests and reducing errors per patient. By advancing their analytics capabilities, healthcare entities can better anticipate future outcomes and accommodate them.

Boost Cloud Technology
Cloud computing remains a cornerstone of healthcare innovation. By 2034, the healthcare cloud computing market is expected to grow from $519.23 billion in 2024 to $1.77 trillion, driven by its ability to enhance patient outcomes, streamline operations, and enable advanced data analytics. Cloud technology provides secure, scalable solutions for managing big data, making it an essential tool for modern healthcare organizations.

Partners can easily build thriving and resilient healthcare solutions with help from ScanSource. Interested in learning about new, updated, or even additional technology solutions that can benefit your healthcare business? Reach out to your ScanSource representative today to learn more.