Business operations in Healthcare and Medical Technology firms are faced with a dire need for financial, operational and clinical performance improvement and optimization. The most successful way to analyze business performance and plan for improvement is by considering 3 essential components: people, process, and technology. Combining and optimizing these 3 components improves financial, operational and clinical performance. Many of the existing processes are not suitable for today’s fast paced and technology centric environments. New businesses, regulatory and partnership models tend to cause a lack of alignment between the process and technology components. Understanding and optimizing these can allow enterprises to enable its employees with new tools to achieve the following 3 major performance goals for every organization.
- People – Successful change is dependent on people, and specifically on the support of those people most affected by the potential changes. In the case of financial and clinical performance improvement many professional disciplines are involved, each with a history of training and experience which is the basis of how work is performed.
- Process – Process design/re-design can be the most neglected component in the day to day operations or for a technology deployment strategy. A complete understanding of how work is currently accomplished and a clear vision on how work should be accomplished in the future is essential. Without this understanding and a definition of the system capabilities supporting the future, the performance improvement effort is placed in jeopardy.
- Technology – For healthcare or medical technology organizations, the decisions surrounding the choice of technology and its deployment are a critical foundation for success. Designing of the application or solution so that it meshes well with the people and processes is a key element for successful product adoption.
Business strategies for the Healthcare and Medical Technology space
In addition to well defined and proven sales and marketing strategies, Netspective provides expert advice and support for its clients in preparing them for legislative, regulatory, technology and market changes. Our experienced team has been involved in several advisory and consulting roles with legislative and regulatory organizations, providing valuable insights.
From the new government initiatives, ACA and HITECH, on healthcare, new regulatory compliance from FDA, reimbursement changes from CMS and insurance to planning for electronic health records (EHR) adoption and connecting with HIE and ACO, Netspective can assist in defining specific goals, objectives and strategies for your organization. Our business strategy services also focuses on changing market demands, competition and areas of novel and revenue generating opportunities.
We can review your current business models, recommend new models and help you redefine your core competency so as to facilitate operating your business more effectively and efficiently. We help analyze financial and clinical performance and offer insights related to process improvement, technology enablement, improved revenue and practice management. We also provide valuable input on sales, marketing and corporate strategies allowing for marked improvements in profits and growth. Netspective also ensures that all business strategies that we provide are executable and measurable strategies, bringing a sustainable model for long term business impacts.