Healthcare Technology: Why its important to document and demonstrate value.
We can share insights on downtime impacts in areas such as:
- Patient Outcomes
- Delivery of Care
- Supply Costs
- Lost Charges
- Risk Management
Support organizations serving the healthcare industry face a challenging renewal sales environment. Customers are increasingly sophisticated and demanding.At the same time they have begun turning to renegotiating contracts and prices as a primary lever to reduce IT operating expenditures.
To be in a position to defend price, and thereby gain a fair return on the value your support organization delivers, you must be able to persuasively document that value in monetary terms. Simply put, suppliers must learn to translate everything they do for customers into the language that decision-makers are most interested in – the language of dollars & cents.
Documenting and demonstrating value is challenging because it involves uantifying the benefit claims you want to make (e.g. reduced downtime) – claims that touch on complex care-delivery and administrative processes. But meeting this challenge is what ultimately allows your company to defend, and possibly improve, your price and bottom line.
We can help clients understand the challenges of building a quantitative business case and how to systematically overcome them. Participants learn industry issues and “pain points”, get introduced to AG’s value quantification methodology, refined over dozens of consulting projects, and apply this approach to their specific support offerings in the health care context.
Common Sales Challenges include:
- Understanding what ROI is and how to quantify and measure it
- Using other common financial metrics (NPV, IRR)
- Integrating a value-based approach into the renewal sales cycle
- Linking support metrics to health care business issues
- Getting customer cooperation and buy-in
- Avoiding exaggerated claims that undermine the credibility of your value case