CLIFNOTES: Market Insights at MEDITECH
One key to a successful consulting firm is building enduring relationships. HealthNET is no different in this regard, so we often meet with healthcare IT software providers to share insights about current market trends and bounce ideas off of one another.
On a recent visit to MEDITECH’s Foxboro and Canton offices, we shared some lively discussion with their staff on what both of us are seeing in the market. Below are just a few of the observations that we shared with MEDITECH:
The “Secret Sauce” Behind a Successful Implementation
HealthNET’s blend of strategic services combined with our implementation work always go hand in hand. As a READY-Certified firm, this combination becomes even more necessary when paired with MEDITECH’s products, as project management and processes are at the forefront of MEDITECH’s delivery models.
Vendor Selections and the “Big Three” in Healthcare IT
As a vendor agnostic consulting firm, it’s not surprising that HealthNET sees a representation of our clients’ vendors based on the current market share as a whole for single-platform EHR’s, with Epic, Cerner, and MEDITECH.
While EHR RFPs have slowed down in recent years, HealthNET predicts a lot more organizations will be undergoing a system selection soon, for several reasons:
- People have been sitting on making changes based upon the age of their software and the stage of its lifecycle
- In MEDITECH’s case, the widening of their single platform to include the ambulatory solution will help push those health systems who have been on the fence for awhile
- As the dust starts to settle over “merger mania,” vendor decisions will become necessary
Budgets: Setting Realistic Estimates
HealthNET and MEDITECH discussed the pitfalls of inadequate budgeting and I provided some of my top reasons why a project might run over budget:
- Budgets are poorly constructed in the first place and oftentimes miss items such as the cost of the legacy system or “at-the-elbow” support, and the projected costs over time (TCO)
- Higher staffing support for steady than anticipated, and the longer time to get to steady state
- Cost of rebuilding technology
- Time delays are costly due to the rapid “burn rate” of the implementation team
A spinoff of this discussion was a question pertaining to the most common modules that contribute to derailing the management of a project. The top three that come to mind for me are:
- Charge Master
- OR Preference Cards
I can’t stress enough how much knowledge is gleaned by staying in touch with vendors to keep a pulse on the market to ensure we are both meeting the needs of our valued clients.
What are you seeing lately in the healthcare IT market? Feel free reach out to me at email@example.com if you’d like to chat.
About the Author: Clifton Jay founded HealthNET in 1990 and it is his vision that has created the long-term partnerships HealthNET has with many of its clients. With over 30 years of experience in healthcare IT and operations management, Clif helps clients with strategies, tactics and optimizing their use of information technology. Prior to founding HealthNET, Clif held practice director and vice president positions for national healthcare consulting firms and was a vice president for a hospital association consulting subsidiary. In addition to his leadership responsibilities, Clif pursues his other interests as a musician, tennis player, angler, and car enthusiast.
Photo: (Left to right) HealthNET's Clifton Jay (President), Margaret Murphy (Director of Operations), Joann Hoxha (Marketing Manager), and Steve Marchi (VP of Sales, Marketing) at MEDITECH's Canton office.