DHC

Accelerate your product development, economically

Team Innovaccer
Fri 11 March 2022
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Accelerating the time to market for healthcare products sounds exciting, but it can also elicit skepticism. Don’t forget what's involved in getting your innovations to consumers—recurring and non-recurring development costs, the time it takes to scale to manufacturing, additional resources, and production costs followed by a lot of chaos around quality maintenance. Indeed, reducing time to market to sell solutions faster is critical in the success of your innovation, but it’s also a significant undertaking.

Wouldn't it be great if there were a repeatable and scalable solution that would not only optimize time to market with efficient resource management but also make the sales cycle 10 times faster?

A ready-to-use enterprise data integration platform offers an effective, simple solution by facilitating seamless data integration to enable data exchange between systems at the back end. This, in turn, caters to diverse integration needs and automation, freeing up time while streamlining the entire selling sales cycle as a digital health company.

The result? Healthcare IT (HIT) companies can skip the integration phase to extend their customer and partner platform capabilities while reducing their development costs without interfering with their existing internal roadmap.

Addressing the real need for speed

With complex value-based business models networked in the healthcare ecosystem, the ratio between development costs, development time, actual market launch, and new product sales warrants a scalable solution. HIT companies can shorten their cycle times and expedite their product sales to market by moving to Innovaccer’s prebuilt, unified, and FHIR-enabled Data Activation Platform (DAP).

Moving away from legacy healthcare interfaces saves you from the API coordination nightmare and facilitates faster time to market. Moreover, access to a pre built interface product that can deploy more than 200 connectors in various file formats is a huge cost-saving opportunity.

Key features of the DAP include:

  • A ready-to-use integrated healthcare platform that supports APIs in real-time to keep data moving, facilitating robust data governance across product solutions
  • Data integration tools that streamline the integration of clinical, financial, and operational data, enabling software programs to go live faster in the market
  • Prebuilt connectors for quick data ingestion, processing data from multiple sources to deliver actionable insights to meet future healthcare challenges

Interestingly, the PaaS-based enterprise data activation platform is a ready-to-use platform that can address the broken process of clinical and administrative data exchange between system interfaces. The integrated Data Activation Platform (DAP) helps to maximize interoperability while activating personalized engagement, thereby, reducing customer churn rate. What's more, as your organization grows, an interconnected, scalable data model enables your organization to perform more customized installations through an expanded offering of apps with tons of functionality. The potential is endless.

However, it’s not just about integrating data. The DAP is a robust data architecture built to scale when used with the right set of technology tools. Organizations must be able to integrate their entire architecture seamlessly with any third-party application, so they can deliver the right service at the right time to their customers.

The DAP can be applied in many ways to power data interoperability. Below given are some of the best use cases in digital health:

  • Telehealth visit scheduling and encounter data
  • Patient acquisition, engagement, education and marketing efforts
  • Patient 360-degree view
  • Care team activities, and care plans
  • Patient access, patient-reported & patient-collected information
  • Remote patient monitoring
  • Fitness activity tracking
  • Patient access
  • Billing information
  • Entities (providers/facilities)
  • Insurance authorization/eligibility
  • Inventory management
  • Prescription management
  • Clinical decision support (CDS)

Key considerations for building an in-house solution

So, you are all set to launch a fully interoperable information-centric strategy by integrating third-party data into your platform. Great! But, is it worth the investment? HITs must determine what to prioritize—build a new infrastructure from scratch by hiring multiple resources to implement a custom configuration or shift the entire resource burden to a third-party vendor (PaaS) that can free up IT resources to focus on other strategic initiatives.

Typically, in-house models cost more, take longer, and deliver a less tailored experience for customers. Building a solution involves high capital investment and infrastructure costs, as well as long lead times before any value is delivered. According to a study of nearly 1,500 IT projects, one in six-faced an average cost overrun of 200% and a schedule overrun of almost 70%. The study also suggested that an unusually large proportion of IT change initiatives incur significant cost overages.

An interview published by McKinsey highlighted that nearly 70% of digital transformations fell short of their objectives, even as companies around the globe invested approximately $1 trillion in digital transformation. Another study states that these odds could be improved from 30% to 80% by teaming with the right PaaS partner and addressing key issues in the change management process.

In-house vs PaaS managed service solution: A comparative analysis

Factors to consider In-house solution PaaS managed services solution
Evaluating the investment
Design and build-out costs
  • High capital investment 
  • Time-consuming and resource-intensive
  • One in six IT projects averages a cost overrun of 200%.1
  • Minimal upfront expenses for subscription model; no need to build in-house capacity.
  • Pay only for what you need— providers can select from modular solution options.
Cost of attracting top talent
  • Identifying and recruiting qualified talent in areas such as niche coding languages, solution architecting, NLP, data science, and AI/ML can be challenging and expensive.
  • Top talent gravitates toward innovative, technology-focused companies that offer exponential growth opportunities.
Cost of onboarding and training 
  • Building, training, and scaling a team with relevant expertise in areas such as multi-tenancy and data compliance is an additional investment.
  • Maintaining momentum, performance, and morale through multi-year transformation projects can be challenging and resource-intensive.
  • PaaS organizations with managed services models manage solutions with little to no charges.
  • No additional cost of high-quality training.
Cost of upgrades 
  • In an evolving technology landscape with changing business needs, priorities may shift significantly during implementation, requiring additional project investment.
  • Securing a budget for constant upgrades and improvements is challenging.
  • Solutions are installed across the entire organization, allowing for routine upgrades based on requirements.
  • Upgrades are less expensive and have shorter implementation cycles.
Cost of failure 
Accelerating time to value
Time to value 
  • Long implementation timelines delay time to value (usually 12–18 months after kickoff).
  • Implementation delays may lead to negative end-user experiences and result in slower adoption among teams.
  • Shorter implementation timelines of 3–6 months with staggered value delivery enable rapid and continuous value capture.
Internal governance
  • Complex internal governance and processes may be unable to support the speed and complexity of enterprise-level projects.
  • Building consensus often requires significant time and effort, making it difficult to align internal stakeholders on solution design and component sourcing.
  • Projects are shorter and managed end-to-end by the partner with the client’s input and feedback.
  • A history of successful data governance accelerates stakeholder alignment and streamlines the use of resources.
Opportunity costs 
  • Building solutions in-house may significantly impact employees’ ability to focus on solving core business problems.
  • By using minimal in-house resources, the partner enables your internal teams to focus on high-priority business areas.
  • Outsourcing non-core technology build enables business value creation to remain in-house.
Enhancing quality and control
Technical debt
  • Using the latest technology with no additional internal resources, and continuous bug fixes, PaaS partners help maintain legacy code and reduce technical debt.
  • Digital leaders achieve earnings growth that is 1.8 times higher than competitors  while only paying for what their business requires.
Control of solutions and functionalities 
  • Integrating multiple third-party point solutions increases risk.
  • Internal teams that may have limited experience in solution design and implementation.
  • A PaaS business model enables users to customize and contextualize solutions to meet regulations and maintain care quality.
 
  • PaaS managed service partners have an extensive history of successful implementation and delivery.
 

Considerations for choosing a PaaS managed services solution

The following factors should be considered when choosing a PaaS-based platform solution:

To realize cost savings and revenue enhancement opportunities within a HIT infrastructure, healthcare organizations need enterprise data management platform on a health cloud to bring data together and create actionable intelligence.

Partnering with a vendor makes sense, starting with a baseline data repository. Once the necessary data connections and integrations are made, your organization can focus on building unique IPs on top of that foundation, significantly reducing the time to value and accelerating innovation. The biggest perk of such an interoperable data activation platform is that you can craft your digital health offerings, specifically to the pain points or needs of your partners and customers in the market.

When evaluating vendors, consider contacting two or three customers to discover how the implementation went and how the solution fits your organization’s needs. Talk to a longtime customer, a customer with a recent implementation, and a customer currently in the implementation process. This will give you a more complete view of vendor processes—from initial implementation to ongoing maintenance and support.

Buying a PaaS-based enterprise data solution not only ensures minimal involvement of in-house resources and leadership but also allows internal teams to focus on the critical areas that can accelerate value realization and digital transformation.

Utilizing PaaS integrations with the leading healthcare IT systems and vendors, it is possible to clean, standardize, and unify all the data sources in healthcare - clinical, claims, labs, pharmacy, SDoH, etc. Additionally, it facilitates healthcare organizations with a scalable platform for improved collaboration and a future-proofed framework designed for native interoperability and accelerated innovation.

For more information, visit www.innovaccer.com.

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