The HIMSS Global Health Conference and Exhibition (HIMSS) has long been a hub for forward-thinking discussions and innovations in healthcare technology. This year, Milliman MedInsight was thrilled to return to HIMSS for the second year in a row. HIMSS stands out as a premier event in healthcare technology, drawing over 28,000 healthcare leaders from 88 countries. The conference buzzed with energy, offering more than 600 educational sessions, interactive forums, and an impressive lineup of 950 exhibitors showcasing the latest tech advancements.
The event provided invaluable insights into harnessing technology to enhance financial performance, optimize care delivery, and build resilient organizations. Milliman MedInsight dove right in, sharing our expertise and engaging in meaningful conversations that are shaping the future of healthcare. This year, a few key themes took center stage: a widespread sense of uncertainty in federal funding, interoperability, artificial intelligence (AI), and cybersecurity. For Chief Financial Officers (CFOs) and healthcare leaders navigating these changes, one thing is certain: having strong, reliable data is essential.
Let’s dive into the key themes of HIMSS25:
1. The challenge of uncertainty in public policies
Concerns over federal funding were raised frequently in panel discussions and informal conversations throughout the conference. With Congress still deliberating on the federal spending plan, the exact amount of funding available for hospitals, universities, academic medical centers, and Medicare and Medicaid remains uncertain.
This uncertainty only highlights the growing importance of data in the healthcare industry. In a time of potential financial constraints, data becomes a crucial tool for making informed decisions. Here’s why data is more vital than ever:
- Budget optimization: With fluctuating funding, healthcare organizations need to stretch their budgets while maintaining high quality care. Data analytics can reveal areas to cut costs without compromising patient outcomes. For example, analyzing patient flow and resource utilization can identify inefficiencies that, once fixed, save money.
- Strategic investment: Deciding where to allocate limited resources is tough. Data offers valuable insights into which technologies and projects will yield the best returns. For instance, understanding how interoperability and AI impact patient outcomes and efficiency helps CFOs make informed investment decisions.
- Compliance and reporting: New regulations often bring additional reporting demands. Robust data systems ensure organizations stay compliant and submit accurate reports, safeguarding funding and avoiding penalties.
- Risk management: In uncertain times, data helps identify and manage risks. Predictive analytics can foresee financial gaps or operational issues, enabling organizations to proactively address them.
2. Interoperability & AI
In the current healthcare environment, many health systems are facing the challenge of maintaining modest operating margins. This financial pressure is influencing decision-making processes, particularly when it comes to investing in new technologies like AI and other digital tools that support interoperability.
Interoperability in healthcare is crucial for enhancing care coordination and outcomes, yet organizations face significant challenges in unifying and trusting their data and how to implement AI responsibly.
This cautious approach is driven by several key factors:
- Financial constraints: Health systems often have tight budgets, making investments in new technologies a significant decision. Any technology with substantial upfront costs needs to clearly demonstrate financial benefits to be considered worthwhile.
- Operational efficiency: AI and similar tools promise to boost operational efficiency, but healthcare providers need to see concrete evidence of how these technologies can streamline processes, reduce administrative burdens, and free up resources for better patient care.
- Vendor credibility: Vendors must build trust by providing transparent and reliable data on the performance of their solutions, including real-world examples and testimonials from other healthcare organizations.
“AI isn’t the most important asset; it’s the data you possess and the value your organization offers. We empower our clients and partners to manage and optimize their data effectively. Once data is organized, you can better leverage AI,” said Chas Busenburg, MedInsight Senior Manager of Data and AI. AI and analytics initiatives in healthcare often fail due to poor data quality. The issue isn’t data abundance, but reliability, as organizations struggle with fragmented and siloed records. Successful AI and digital transformation depend on clean, integrated data.
3. Cybersecurity in healthcare
The dual narrative of excitement and concern surrounding AI in healthcare reflects the sector’s dynamic and rapidly evolving landscape. On one hand, healthcare leaders are enthusiastic about AI’s transformative potential to revolutionize patient care, streamline operations, and enhance decision-making processes. AI technologies promise improvement in diagnostic accuracy, personalized treatment plans, and optimized resource allocation, offering a glimpse into a more efficient and effective healthcare system.
However, this optimism is tempered by the looming threat of cyberattacks, which increasingly target the healthcare industry. The sensitive nature of healthcare data, coupled with the critical importance of uninterrupted operations, makes the sector an attractive target for cybercriminals. The frequency and sophistication of these attacks are escalating, with hundreds of incidents reported in recent years, each with the potential to disrupt services, compromise patient privacy, and incur significant financial costs.
The persistent threat of cyberattacks serves as a stark reminder of the vulnerabilities that exist within the healthcare sector. Such high-profile incidents can have a devastating impact on both healthcare organizations and the patients they serve, affecting millions and underscoring the urgent need for robust cybersecurity measures. These attacks not only disrupt operations but also highlight the critical importance of safeguarding sensitive information against future threats.
Experts shared strategies to mitigate cyber threat risks across healthcare enterprises, emphasizing the importance of robust cybersecurity measures as the sector undergoes rapid digital transformation. “At MedInsight we prioritize data security and continuously focus on strategies to mitigate potential risks,” said Busenburg. “By carefully segmenting our data, we ensure controlled access and uphold the highest standards of protection.”
With integration of technologies like electronic health records (EHR) and telemedicine, healthcare organizations are increasingly dependent on digital systems to store and manage sensitive patient data. This reliance makes them prime targets for cybercriminals. Therefore, the need for strong cybersecurity protocols has never been greater. They are essential to protect patient privacy, ensure the integrity of medical information, and maintain the operational continuity of healthcare facilities.
At HIMSS25, discussions highlighted the urgency of adopting comprehensive cybersecurity frameworks. Investing in advanced threat detection technologies and developing strategic partnerships were key points of focus. These efforts aim to foster a culture of security and awareness among healthcare professionals, ensuring that the industry can safely navigate its digital future.
Empowering healthcare transformation with MedInsight
Milliman MedInsight is uniquely equipped to guide provider organizations through the complexities of healthcare uncertainty, interoperability, and AI. By leveraging the power of accurate, comprehensive data on our dynamic Health Cloud, we support healthcare providers in the following ways:
- Advanced data analytics: MedInsight’s platform can integrate data from diverse sources, including EHRs, financial systems, and patient feedback. This comprehensive view of the healthcare ecosystem empowers providers to improve outcomes.
- Innovative Value-Based Care (VBC) Platform: The VBC Platform enables organizations to effectively track their progress toward value-based care goals, such as reducing readmission rates, enhancing patient satisfaction, achieving cost savings, and efficiently managing contracts.
- Expertise of Milliman consultants: Milliman consultants bring extensive experience and deep expertise to assist healthcare organizations in navigating regulatory complexities, optimizing operations, and implementing industry best practices. They also offer comprehensive risk management strategies to align with organizational goals and mitigate potential risks.
By utilizing robust data analytics, an advanced VBC Platform, and the expertise of Milliman consultants, healthcare organizations can make informed decisions, streamline operations, and improve patient outcomes, enabling them to thrive in an increasingly complex and uncertain environment. Let MedInsight be your partner in transforming challenges into opportunities, helping you lead the way in healthcare innovation.
Join us at NAACOS Spring 2025 conference
We are excited to engage with healthcare providers, ACO leaders and policymakers to discuss the financial and operational strategies that drive sustainable growth. Connect with our team at the conference:
Amanda Ivanovics (Senior Vice President of Sales, Milliman MedInsight) – View LinkedIn profile
Jason Altieri (Consulting Actuary & Data Scientist, Milliman) – View LinkedIn profile
Noah Champagne (Principal and Consulting Actuary, Milliman) – View LinkedIn profile
Emma Kramer (Principal and Consulting Actuary, Milliman) – View LinkedIn profile
Christopher Smith (Consulting Actuary, Milliman) – View LinkedIn profile
Don’t miss this opportunity to explore how MedInsight can support your organization’s journey. Learn more about the event and schedule a meeting with us today!