Apr 06

Shackled to Spreadsheets: The Growing Costs of Healthcare RFPs

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

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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Feb 07

Digital platform makes it easier to find the right IT solution

Blog Bruce Brandes Sales Purchasing Decisions Decision Making healthcare innovation Innovation physicians AMA IT solutions

(as seen in AMA Wire on February 1, 2018)

Health systems and physician practices have access to a host of digital tools that can enhance patient care. However, identifying the health information technology (IT) that best fits their needs can be a long and arduous process. A new digital platform helps streamline complex purchasing decisions across the health care industry.

The AMA recently began a collaboration with Lucro, a health care technology company in Nashville, to improve physician engagement in purchasing decisions. Lucro’s digital platform simplifies the buying process by connecting physicians and health systems with innovative technology vendors. The collaboration comes in the wake of the release of the AMA Physician Innovation Network (PIN), an online community that connects and matches physicians with digital health companies and entrepreneurs.

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Dec 07

Lucro Company Update and Year in Review

Blog Bruce Brandes HISTalk Sales Purchasing Decisions Decision Making healthcare innovation Innovation

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

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Nov 21

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

(as seen in HIStalk Reader's Write on November 15, 2017)

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.

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Nov 02

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

(as seen in HIStalk Reader's Write on November 1, 2017)

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.

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Sep 28

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 seen in HIStalk Reader's Write on September 27, 2017)

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.

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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)

Blog Bruce Brandes HISTalk Sales Purchasing Decisions Decision Making healthcare innovation Innovation

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

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.

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Aug 02

The Lucro Marketing Channel

Marketing Technology healthcare innovation Marketing Channels Marketing funnel

Let's start at the beginning: What is marketing and how does marketing work?

Marketing is a familiar concept to most of us. Yet surprisingly, most people can’t define it. So what does it mean?

As a career marketer, people usually assume my days are a blend of putting ads in magazines, making logos, tweeting all day, making things ‘look pretty,’ or inside sales. But it’s much bigger than any of those.

(Good) Marketing means that the outside world knows about your products and your company and wants to buy from you or your business. I want to break that down into two distinct components of marketing:

  • People know about you
  • People want to buy what you sell
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Jul 14

Innovative Health IT Companies Who Are Changing Healthcare: A Vendor Community Shout Out

healthcare innovation Lucro vendor community healthcare IT vendors

On a daily basis, I get to discover a lot of the amazing health IT companies who are addressing some of the biggest problems in healthcare and finding innovative solutions for them. As the head of marketing, I want to share with you one of coolest parts of my job here at Lucro. It’s time some of our vendor community gets a shout out for driving innovation in an industry that is usually years (even decades) behind.

In Lucro, health care organizations create projects to advance their strategic priorities. “Boards,” as they are called within the app,  help teams find and decide on the best vendor partners for the project. As I’ve researched vendors for some of the project boards in our platform, I came across several that gave me a renewed excitement about innovations that can change the landscape of how we’ve customarily defined healthcare. Here are just a few of the ones I’ve come across that I think deserve kudos for what they’re doing.*

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