Next Best Action has been one of the most important approaches for sales in recent years, including for pharmaceuticals. But because selling pharma is significantly different than selling other products, pharma-oriented NBA approaches need to be significantly more sophisticated than NBA for other industries. Pharma sales teams looking to implement NBA need to embrace an updated, data-driven version of this approach, known as NBA 2.0,
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Developing a Robust Data Strategy for Healthcare Organizations
Having a comprehensive data strategy is paramount in the healthcare sector. Data can be both a blessing and a curse for healthcare organizations, depending on how well they manage their data. On one hand, data is the key to unlocking personalized medicine, research breakthroughs, and effective population health management. On the other hand, data can be a major source of risk. Poor data security can compromise sensitive patient information, erode confidence in healthcare institutions, and lead
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7 Digital Transformation Mistakes Made In Healthcare
The digital health market is projected to grow at a compound annual rate of approximately 25% from 2019 to 2025, according to NASDAQ. Needs for digital projects and initiatives have never been higher.
However, investments in the sector, including in digital tech, have remained under tremendous scrutiny since the pandemic. As this trend continues in 2024, it’s more important than ever for digital healthcare professionals to scrutinize their roadmaps and strategies. They must exercise caution
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Prior Authorization and Interoperability – Changing the Dynamics of Medicare
CMS and Medicare are trying to change the dynamics of American healthcare. No need to rehash the well-known issues but what is new is the change in the hotspot. For the last 20 years, Medicare Fee for Service has been the hotspot of spending and value. You’ve heard the mantra (which dates at least as far back as 1906 with George Bernard Shaw’s play, “The Doctor’s Dilemma”). If you pay a set rate the medical establishment has an incentive to increase volume. Now fast forward to today and Medicare
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Netflix for Healthcare: Direct Primary Care & Shared Decision-Making
In an era when healthcare costs continue to soar, a deviation from the status quo is becoming increasingly necessary. Backing this up are recent findings by the Federal Reserve Board, which unearth an uncomfortable truth—that 28% of adults in the U.S. were compelled to forgo medical care in 2022 due to exorbitant costs. Both alarming and disappointing, this statistic underscores the urgent need for a transformative take on healthcare that places patients at the helm of their own unique
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How Physician Groups Can Fight Back Against Private Equity
As a society, we should all be concerned about the increasing rate at which private equity firms are acquiring physician groups. Over the last decade, private equity firms have invested nearly $1 trillion in approximately 8,000 healthcare deals, encompassing a wide spectrum of medical services, from fertility clinics to neonatal care, primary care to cardiology, hospices, and everything in between.
The consequence? Healthcare has shifted towards a profit-driven model where physicians have
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Unlocking Medical Device Potential: Data Integration Drives Better Patient Outcomes
The types of medical devices available and their use in patient care continue to accelerate. The medical devices market is anticipated to surpass $656B by 2032, and it is poised to reach a compound annual growth rate (CAGR) of 3.0% between 2023 and 2032. From monitoring devices, infusion pumps, implanted devices, autoinjectors and diagnostic devices to wearables, the number of devices – and the data they produce – has exploded.
For healthcare organizations, that means a constant barrage
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Why Hospitals & Health Systems are Shifting IT to Managed Services
The two largest technology trends occurring in healthcare delivery – digital transformation and cyberattacks – are understandably driving the adoption of more IT platforms, applications, and other tools within health systems and hospitals. Concurrently, features within electronic health record (EHR) systems continue to proliferate and increase in complexity.
Although these health IT solutions are designed to save time for providers and administrators during their patient care and business
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5 Key Steps to Successful AI-powered Discharge in Hospitals
Every day, hospital teams are facing inpatient flow challenges like excessive emergency department surgical admit boarders. To help overcome these challenges and improve access to urgent care, clinical leaders have focused on improving efficient discharge practices to ensure beds are available for incoming patients.
With a goal to both safely and efficiently discharge patients as soon as clinically ready, many hospitals may be tempted to consider
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Beyond Credentialing: How PDM Drives Quality Care & Revenue
As healthcare costs continue to rise and workforce shortages reach a critical level, hospitals and health systems must rethink their tech stacks and processes to find success in 2024 and beyond. Provider data management (PDM), a function once relegated to the basement of hospitals, today plays a critical role in driving workforce efficiency, revenue, and patient outcomes. By implementing an end-to-end PDM solution, hospitals and health systems can maximize patients’ and clinical providers’ time
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