New independently conducted research reveals urgent need for health systems and physician groups to make data actionable in drive toward patient-centered and value-based care
INDEPENDENCE, OH / ACCESSWIRE / May 21, 2024 / MediQuant, a leader in enterprise active archiving solutions for hospitals and health systems, commissioned a new independent industry report, The State of Healthcare Data Archiving 2024: A Paradox of Innovation and Legacy Infrastructure.
The new research includes a survey of leaders at 100 hospitals and 86 physician groups and ambulatory surgery centers (ASCs) conducted by healthcare growth, strategy, and marketing firm Sage Growth Partners.
Among the surprising survey results is that approximately half of organizations are still relying on in-house data archiving, EHRs and cloud-based options, even though such solutions are failing to deliver the significant return and expertise that is critical for the next 1-3 years.
As a result, hospitals, physician groups and ASC's are facing an archiving paradox wherein new technologies are emerging to fuel innovations that advance patient-centered and value-based care, but the organizations still need to manage data in legacy systems.
Key survey findings highlighted in the report include:
- 50% of health systems and nearly 30% of physician groups and ASCs will have to archive an additional 7 or more disparate systems, in addition to what they archive today, in the next 1-3 years
- Nearly half (46%) still use in-house resources for archival needs
- 67% of hospitals and 76% of physician groups and ASCs that are currently working with cloud hosts, EHR platforms, or other HIT vendors for archiving say they would like to replace or augment the vendor they currently use
- 97% of hospitals and 93% of physician groups and ASCs say an enterprise active archiving and long-term data management solution would be "very" or "moderately" valuable
"The state of data archiving is evolving as healthcare organizations need to decommission a growing number of systems, driven by emerging technologies, brisk M&A activity, and the need to reduce the security risk of unsupported applications," said Jim Jacobs, President & CEO, MediQuant. "Enterprise archiving and data management play a pivotal role in ensuring continuity of care, regulatory compliance, and access to historical patient records. These are fundamental elements in delivering quality patient care."
To keep pace with advancements and meet new market challenges, hospitals, physician groups, and ASCs need more robust enterprise active archiving solutions. Survey respondents, in fact, rank the top five advantages of enterprise active archiving solutions as: expertise and support, outsourced maintenance, scalability and updates, rapid deployment, and the option of a subscription-based model.
"As healthcare leaders continue investing in digital solutions to augment clinical and administrative functions and workflows, the complexity of their data access and protection requirements change," said Dan D'Orazio, CEO, Sage Growth Partners. "The ongoing challenge remains that healthcare organizations need to archive more and more systems in the immediate future and in manner that enables them to strategically leverage historical data to build more effective and affordable healthcare in the future."
View a complete copy of the report and survey findings here.
About MediQuant
Founded in 1999, MediQuant is the leader in enterprise active archiving solutions for hospitals and health systems. The Company's flagship product, DataArk®, assists hospitals in retiring legacy clinical, patient accounting and ERP platforms while maintaining access to critical data via a cloud-based software platform. MediQuant's entire suite of core platform applications offer access to a common data repository that is secure, intuitive, and scalable, providing an active view of patient records from within your current systems. Rigorous operational requirements ranging from business intelligence and analytics to interoperability demands, compliant medical records access, accounting tasks and clinical access, are met effortlessly through the MediQuant platform. With decades of experience successfully executing data conversions, migrations and archives across virtually all major EMR, EHR, ERP and Patient Accounting software vendors, MediQuant serves 250+ individual health systems, which represent more than 1,100 hospital and physician practice customers. For more information, visit www.mediquant.com
About Sage Growth Partners
Sage Growth Partners is a healthcare growth strategy and marketing firm with deep expertise in market research, go-to market strategy, and marketing communications. Founded in 2005, the company's extensive domain experience ensures that healthcare organizations thrive amid the complexities of a rapidly changing marketplace. Sage Growth Partners serves clients across the full healthcare spectrum, including GE Healthcare, Medecision, ProgenyHealth, Kyruus; Best Buy Health, New Jersey Brain and Spine, the National Minority Health Association, and Philips Healthcare. For more information, visit sage-growth.com.
###
Press contact information:
Tom Testa on behalf of MediQuant
617-872-0184
tom@andersoni.com
John Gonda
616-309-4888
jgonda@sage-growth.com
SOURCE: MediQuant
View the original press release on accesswire.com
