As you likely experience every day, uncertainty and cost pressures in healthcare have created unprecedented challenges and opportunity for the industry.Read More
Why Healthcare Organizations Take So Long to Make Buying Decisions and How We Can Fix It (Part 4 of 4 - Process) (HIStalk)Blog Bruce Brandes HISTalk Sales Purchasing Decisions Decision Making healthcare innovation Innovation
We have previously discussed the impact of organizational misalignment and lack of trust on slowing the buying cycle in healthcare. Once you decide which projects are worth tackling and you streamline getting the scoop from your trusted network, now you must challenge and simplify the deeply-rooted, legacy workflow to make a decision.
Let’s illustrate two examples of antiquated steps in most every vendor selection process in healthcare and discuss potential solutions.Read More
Why Healthcare Organizations Take So Long to Make Buying Decisions and How We Can Fix It (Part 3 of 4 - Trust) (HIStalk)Blog Bruce Brandes HISTalk Sales Purchasing Decisions Decision Making healthcare innovation Innovation
In Part 2 of this series, we discussed the importance of first clearly defining and aligning regarding the problem a buyer seeks to solve before evaluating products. The next key element is to invite trusted colleagues to contribute insights and experience in the context of that problem and possible solutions.
Below we will share more about the type of buying decisions most impacted by a lack of trust and explore how healthcare buyers can gain more confidence in the choices they must make.Read More
Why Healthcare Organizations Take So Long to Make Buying Decisions and How We Can Fix It (Part 2 of 4 - Misalignment) (HIStalk)Blog Bruce Brandes HISTalk Sales Purchasing Decisions Decision Making healthcare innovation Innovation
As any industry observer knows, health systems continue to consolidate in an attempt to ensure their viability given unprecedented financial and operational pressures. Many organizations struggle to fully leverage their scale post-merger. Most often the difficulty is to align focus, priorities, internal knowledge. and industry experience across the expanded team as they integrate.
Misalignment is usually the main contributor to the length of the sales and purchasing process. Too often people fall in love with a PRODUCT without first clearly defining the PROBLEM they seek to solve. This challenge is exacerbated by complex purchasing decisions that require collaboration across multiple stakeholders to make the right choices.Read More
Why Healthcare Organizations Take So Long to Make Buying Decisions and How We Can Fix It (Part 1 of 4) (HIStalk)Blog Bruce Brandes HISTalk Sales Purchasing Decisions Decision Making healthcare innovation Innovation
Over my 28-year career selling to health systems, the most common “competitor” to which my companies would lose a deal was the same: Do Nothing. For decision-makers across the country, there are many reasons that deferring buying decisions was historically a wise choice.
Rarely was there a compelling reason to make a decision at all. In the past, the economics, competitive pressures, and the underlying business model did not change meaningfully enough to encourage risk-taking. Frequently, if you waited long enough, potential industry changes would often just go away.Read More
At 4:00 PM on Wednesday, February 22, a cheer went up from exhibitors at HIMSS17 upon hearing the announcement, “The Exhibit Hall is now closed.” Sales and marketing executives gathered their supplies and headed for the door, leaving teams of specialists to dismantle the mini-city that had sprung up in the almost mile-long convention hall.
Exhausted attendees, feet aching and shoulders slumped from carrying pounds of giveaways and literature, also made their way out of the hall. Many commented on the sensory overload of the exhibits, signage, noise and smells that had pummeled them for three days.Read More
Who’s ready for HIMSS17 in t-minus two days!? In preparation for the show, we sat down with Bruce Brandes, Lucro CEO and co-founder, to hear his thoughts on emerging trends in hospital purchasing and ask what innovation progress he expects – and hopes – to see at the industry’s largest annual gathering.
In ancient Roman times, gladiators entered the ring to engage in blood-soaked battle, often to the death. Fast forward to 2017, and while it may not be the Roman Coliseum, fearsome battles between vendors for health systems’ purchasing decisions, as well as battles around vendor choices within these health systems, still take place on a regular basis.
The difference in vendor and provider approaches to selling and purchasing, respectively, isn’t productive for either party, resulting in mutual frustration and inefficiency, as well as solutions rife with compromise. Vendors and providers that are open to changing how they approach purchasing conversations can save themselves the “sales battle”, work more efficiently and make better decisions to push toward innovation.
As you consider how this change can impact your organization, keep three benefits of a more collaborative vendor/provider relationship in mind:Read More
The always-quotable Will Rogers once said, "Even if you're on the right track, you'll get run over if you just sit there."
Hospital and healthcare system executives might want to frame that saying and put it where they can see it daily—especially when considering their buying cycles. Organizations that don't innovate with new technology will continue to simply chug down the track as their bullet train brethren speed past.
By adopting an approach that streamlines the purchasing discovery process and supports effective evaluation of vendor partners, healthcare organizations can accelerate the decision-making process and lower their risk.
It's Not You, It's Me
Cost is often a major factor when purchasing an innovative new solution for your organization. But regardless of the price, if it's not needed or isn't appropriately fitted to your initiative, then that new widget is nothing more than an exorbitantly expensive paperweight.
Generally, the problem doesn't lie with the vendor that created the solution, it's with the health system. It's like winning the rights to host a major event (cough, Olympic games, cough) but without the infrastructure, preparation or resources to make it a success.
Three Steps to Embrace—and Realize—Innovation
There are three critical steps healthcare organizations should take to ensure they can accelerate effective purchasing decisions:
“When you first start off trying to solve a problem, the first solutions you come up with are very complex, and most people stop there. But if you keep going, and live with the problem and peel more layers of the onion off, you can sometimes arrive at some very elegant and simple solutions.” – Steve Jobs
Lucro was launched just over a year ago with a big idea and remarkable encouragement and engagement from many of healthcare’s most influential organizations and thought leaders. Over the past several months, our team has been heads down on execution and delivery – having listened, learned, adapted, and focused our efforts to deliver a simple but compelling solution to enable innovation in healthcare.Read More