Technology is critical for leading health system (LHS) strategy, but busy executives face a sea of vendors competing for their mindshare and dollars. Your tech has advanced capabilities and delivers value but how can you break through all the noise to secure deals? We surveyed over 30 health systems’ IT decision makers to better understand what they want from industry partners and developed six recommendations. Here are the first three:
The majority of LHS projected near-term technology investments will be targeting the system-wide strategic priorities of consumerism, virtual care transformation, and economic sustainability.
If you can articulate how your solution supports digital front door efforts, virtual care models, and enhanced revenue cycle performance, you may have an advantage.
The majority of LHS projected near-term technology investments will be targeting the system-wide strategic priorities of consumerism, virtual care transformation, and economic sustainability.
If you can articulate how your solution supports digital front door efforts, virtual care models, and enhanced revenue cycle performance, you may have an advantage.
Top Four Areas for RFPs/RFIs
Please indicate which areas your health system plans to issue RFPs/RFIs for within the next year.
Percentage of IT executives
LHS Information Technology Executives remain skeptical of the scalability of more advanced, complex AI applications, especially in clinical settings. If you are pitching an AI-enabled solution, come prepared with concrete case studies that demonstrate clear ROI and scalability beyond pilot phase in other health systems.
Cost and Capacity Remain Primary Barriers to AI Strategy
When asked what the most significant barriers were to deploying advanced, AI-based solutions…
LHS Information Technology Executives remain skeptical of the scalability of more advanced, complex AI applications, especially in clinical settings. If you are pitching an AI-enabled solution, come prepared with concrete case studies that demonstrate clear ROI and scalability beyond pilot phase in other health systems.
Technology investment decisionmaker involvement varies by use case, but areas with the largest growth potential are nested mostly outside of central IT’s budget. Identify your relevant strategy, finance, operations, and clinical stakeholders and secure their buy-in early.
Academy IQ Strategic Account Reviews can help identify key leaders to engage and what messages might be most compelling to them.
Technology investment decisionmaker involvement varies by use case, but areas with the largest growth potential are nested mostly outside of central IT’s budget. Identify your relevant strategy, finance, operations, and clinical stakeholders and secure their buy-in early.
Academy IQ Strategic Account Reviews can help identify key leaders to engage and what messages might be most compelling to them.
Ranking of Tech Categories by How Much They’re Budgeted Within Central IT
What proportion of total spending is budgeted through your system’s central IT/technology budget vs. other budgets?
“After providing a list of priority health systems that we have interest in, you identify key CXOs to influence along with specific priorities to help craft a message that gets that second call. As a result, CXOs are impressed with our alignment and want to learn more.”
The Health Management Academy’s Academy IQ provides critical health system intelligence and commercial guidance. Our team provides timely market insights, strategic account planning, and tailored guidance for engaging health system executives, resulting in efficient sales cycles and accelerated revenue growth. Achieve commercial success with Leading Health Systems by partnering with AIQ.
A tech investment involves putting your money into technology-related assets, such as stocks, startups, or digital currencies. Tech investments can offer significant potential for growth and innovation, making them attractive for investors seeking higher returns. They are also a way to participate in the digital transformation of various industries.
Tech investments can be highly rewarding but also come with risks. These risks may include market volatility, regulatory changes, competition, and technological advancements that can render existing technologies obsolete. Additionally, startup investments carry a higher risk of failure compared to established tech companies.
Research is crucial when considering tech investments. Start by analyzing the financial health, growth potential, and competitive landscape of the company or technology you’re interested in. Stay updated on industry trends and news. Consider consulting with financial advisors or utilizing online resources and investment platforms to make informed decisions.
Yes, there can be tax implications related to tech investments. Capital gains tax, income tax on dividends, and tax reporting requirements may apply. It’s advisable to consult with a tax professional or financial advisor to understand the specific tax rules and strategies for your tech investments. Some investors may use tax-advantaged accounts like IRAs or 401(k)s to reduce tax liabilities associated with their investments.
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