The HCIT market saw tremendous change in 2025, driven by a new federal budget, new healthcare policies from CMS and broader macroeconomic forces. Changes include 1) a surge of investment into Artificial Intelligence, from both venture capital and corporate communities, 2) Big Tech’s partnership with healthcare companies, 3) share price pressure on public HCIT companies and 4) M&A reshaping the competitive landscape. The report dives into these drivers of change and resulting changes across HCIT in 2025.