Jun 27

Spotlight on Digital Solutions for Mental Health: The Providence St. Joseph Health Experience

Healthcare Leaders Thought Leaders Vendor Selection Innovation Digital Solutions Mental Health Behavioral Health IT solutions Vendor Partners healthcare innovation healthcare IT vendors Customers Hospitals Healthcare Vendors

Finding Digital Solutions for Mental Health

We work with some pretty incredible innovation teams, and Providence St. Joseph Health (PSJH) is high on our list of favorite partners. Recently, they published an article in Forbes highlighting the impact of digital health initiatives for mental health, and (fun fact!) they used Lucro for their vendor evaluation.

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Apr 06

Shackled to Spreadsheets: The Growing Costs of Healthcare RFPs

Sales Sales Process Customers RFPs Vendor Selection Process Improvement RFP healthcare IT vendors healthcare innovation Decision Making Purchasing Decisions

Healthcare is notorious for long, crawling purchase cycles, and no process better demonstrates that than an “RFP.” Used to compare and evaluate vendor products, this approach was once the gold standard for vendor diligence, but it has come at a price, specifically limiting organizations’ ability to innovate and see faster returns on their purchases.

Speed Up Your RFP Process to Deliver a Solution More Rapidly

Most organizations use a Request for Proposal (RFP) as part of a selection process to solicit vendors for products or services. Historically, this questionnaire format helped organizations manage the complexity of the products evaluated, ensure that a vendor can fulfill its promises, and document the diligence necessary to purchase goods. RFPs assemble needs from various departments into requirements, usually compiled in a spreadsheet, and are sent to Vendors to respond. Vendors document their capability to meet those requirements, from which a project owner or selection committee selects the best solution for their need.

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Dec 07

Lucro Company Update and 2017 Year in Review

Bruce Brandes Decision Making Innovation Purchasing Decisions Sales healthcare innovation RFPs AMA Vendor Selection Vendor Partners Process Improvement Lucro vendor community healthcare IT vendors Thought Leaders Sales Process Healthcare Leaders About Lucro Company Update Healthcare Vendors General Availability Press Release HIMSS Hospitals Partnerships Health 2.0 Health:Further Customers System-ness

As you likely experience every day, uncertainty and cost pressures in healthcare have created unprecedented challenges and opportunity for the industry.

How do healthcare executives, across a group of hospitals and physician practices, really understand the problems they face, get trusted input to find the right solutions, and ensure broad buy-in and support for accelerated implementation?

In a recent blog post, visionary healthcare innovator (and Lucro advisor), Molly Coye poses this industry challenge and describes Lucro as a new operating system to achieve “system-ness” in healthcare.”

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Sep 05

Why Healthcare Organizations Take So Long to Make Buying Decisions and How We Can Fix It (Part 1 of 4) (HIStalk)

Bruce Brandes HISTalk Decision Making Innovation Purchasing Decisions Sales healthcare innovation IT solutions Vendor Selection Customers Sales Process Hospitals Healthcare Leaders Healthcare Vendors

(as seen in HIStalk Reader's Write on August 30, 2017)

The (Current) Healthcare Sales Cycle

Over my 28-year career selling to health systems, the most common “competitor” to which my companies would lose a deal has always been 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.

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Jun 29

100 Project Boards Party: What are the hottest projects in Lucro?

Purchasing Decisions Healthcare Leaders Hospitals Thought Leaders Vendor Selection Customers Sales Process Decision Making Healthcare Vendors It’s the end of Q2 - are you celebrating or panicking? If you’re already celebrating, or just need a pick-me-up, then I invite you to this blog party.  

Wait! Why are we dancing?

We had over 100 project boards created in Lucro - and thematically, there is some revolutionary stuff going on over here.

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Jun 22

The Sales Knowledge Journey

Sales Customer Experience Sales Process Knowledge Journey Customers Marketing funnel

Imagine a future client. They are the most successful and satisfied customer in your company’s history. Now, rewind all the way back to your first conversation, when they knew nothing about your product. Press play and pay attention to how and when your prospect learns about the value of your offering.

How did they learn about you? What did you share to help them make their first step? At what point did they speak with an existing client or ask about price? What greased the wheels to have your contract signed? Most importantly, what did they learn in the sales process that guaranteed success as a customer?

Documenting how your prospect acquires knowledge in your sales cycle improves sales conversions, forecasting, and customer success. Yet, it is among the most overlooked elements of a repeatable sales strategy.

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Jun 15

Sales by Submission: How the Healthcare Decision Maker's Buying Experience is Terrible

Sales UX Marketing Technology Design Thinking Customer Experience Sales Process Vendor Selection healthcare IT vendors Customers User Experience Hospitals Healthcare Leaders Purchasing Decisions Healthcare Vendors

Software companies hire User Experience (UX) pros to obsess over making their products usable and delightful. UXers merge multiple disciplines, including engineering, marketing, graphical design, and product management to meet the exact needs of a customer. They fixate on every path a user might take and compose the software’s appropriate response.

Investing in UX affects a customer’s real and perceived value from the product, as well as customer satisfaction, retention, and their lifetime value to the company. As a result, the profession is expected to double the US job growth rate through 2020 (22.1% vs. 14.3%).

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May 25

An Update of the Themes in Lucro Brainpower: The Types of Providers on the Platform and What Projects They Prioritized

Purchasing Decisions Best Practices Healthcare Leaders Hospitals RFPs Vendor Selection healthcare innovation Customers Decision Making

Six weeks ago, we put together a blog on the Lucro Brainpower to show you what types of health systems made up the Lucro community and aggregated all the projects you were working on. A lot can happen in six weeks: that’s three development sprints, 13 Preds games, and 30 new project boards in Lucro. 

What type of providers are part of the Lucro brainpower?

Here is an overview of our acute health system population. In the past six weeks, we’ve also gained a foothold in the post-acute space, national treatment centers, national ambulatory surgical centers, physician associations, and independent practices.

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Apr 19

Themes in Lucro Brainpower: Types of Providers on the Platform and What Projects They Are Pursuing

Purchasing Decisions Best Practices Healthcare Leaders Hospitals healthcare innovation Innovation Customers About Lucro

We all talk to our friends - for fun, for business, and for sound boarding. In the healthcare sphere, we rely on subject matter experts, fellow mentors, and c-suiters to guide us where they have had similar successes or roadblocks. With more than 20% of the hospital market in the United States represented in Lucro, that’s a whole lot of brainpower I’ve been able to assess and find some common themes.

Who is a part of the Lucro brainpower?

Here is an overview of our health system population. We also have ambulatory surgical centers, payors, physician groups, and treatment centers that contribute to the platform.

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Jan 24

Before Your Sales Kickoff Meeting: The Most Important New Insight for Healthcare Vendors in 2016

Bruce Brandes Healthcare Vendors Sales Process Sales Vendor Partners Customers

From Hyatt Regency ballrooms to eSpaces shared meeting rooms across the country, over the next few weeks, healthcare vendors are meeting to rally their sales teams and develop strategies for closing more business in 2016. Top challenges to address include:

  • Gaining access to and mindshare of decision-makers
  • Managing and accelerating uncertain and elongated sales cycles
  • Understanding competitive differentiation
  • Maximizing current customer relationships

A word of advice to those CEOs and Chief Sales Officers – rethink every sales strategy, tactic, and investment that may have worked for you in the past. You are wasting your time, money and risking the viability of your business. The market will demand this for two key reasons:

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