On-Demand Webinar Resources: Redefining ROI in Healthcare Sales

Porter Research and Maestro Strategies recently co-hosted the webinar “Using ROI to Build Trust and Differentiate in Today’s Healthcare Marketplace.”

Cynthia Porter (President, Porter Research) and Susan Irby (Business Intelligence Practice Leader, Maestro Strategies), who collectively boast more than fifty years of experience serving and consulting in the healthcare industry, addressed the ways healthcare vendors and suppliers are redefining their ROI positioning to better demonstrate the far-reaching value of increasingly complex healthcare solutions to potential provider and payer buyers.

Guest speaker and HealthEdge Vice President of Marketing Brian Bogie shared details on his experience working with Porter and Maestro to quantify the value of HealthEdge solution components that may have a huge impact on healthcare organizations without the benefit of being quantified financially, and to validate those perceived benefits through objective client research.

Hear more about Brian’s success developing an ROI took kit to help his company articulate full solution value and build trust with healthcare buyers by accessing the webinar event recording here. Slides from the presentation are also included below.

If you would like to learn more about developing an ROI tool kit for your company, conducting benefit validation research with your clients, or procuring health market data to help facilitate engagement, contact Porter Research.

Education, Funding on HIT Industry Stakeholders’ Minds at First Annual Georgia HIT Day

Georgia CapitolGeorgia Lieutenant Governor Casey Cagle proclaimed February 24th as “Georgia HIT Day” at a state capitol gathering held earlier this week where local officials and healthcare technology firms convened to discuss the economic impact healthcare IT is having in the region.

Tag Health, in partnership with Georgia HIMSS and the Metro Atlanta Chamber, hosted speakers from local HIT companies McKesson Technology Solutions, HealthPort Technologies, and Navicure, Inc. for a panel discussion primarily focused on job opportunity the HIT market has brought to Georgia.

Recent HIT market research from the Institute for Healthcare Information Technology (IHIT) suggests that more than 4,700 healthcare IT jobs are available in the state of Georgia, but research participants report difficulties filling positions. Georgia HIT Day panelists pointed to a need for more individuals with cross-industry experience (i.e. provider, health plan, pharmacy, technology) to help build a qualified HIT workforce.

A noticeable portion of event attendees appeared to be professional students in local HIT continuing education programs interested in filling that workforce deficit, and actively seeking employment.

Porter Research President Cynthia Porter, who was involved in fielding the recent Georgia HIT workforce research and was in attendance at the event, observed an emphasis on HIT education needs. Porter elaborates: “There is some concern that job candidates in the region may be tempted to migrate to more fertile markets if Georgia’s academic push for HIT advancement isn’t coupled with increased business investment in the area.”

GA Capitol

State officials and organizational representatives addressed the need to better brand the city’s strengths in healthcare IT (including an educated workforce) to attract more venture funding to the Atlanta market. The city was presented with the HIStalk.com Reader’s Choice Award for recently being voted the “Nation’s Capital of Health IT” at Tuesday’s event.

Porter Research Information Services Director David Himes, also on hand at the event, found promise in the state’s collective approach to promoting Georgia HIT, observing that “As the state maneuvers to coordinate the education efforts to staff these jobs, a forum that brings healthcare IT firms, healthcare staffing and recruiting companies, and the Board of Regents to the table could yield promising results.”

Local healthcare providers and HIT end-users were also in attendance and some aired concerns regarding HIT’s impact on provider productivity. Other provider attendees championed patient safety as HIT’s primary objective, while others voiced the need to bring a wider variety of HIT end-users (i.e. nurses) to the product development table.

To date, roughly two-thirds of Georgia hospitals have received funds for successfully demonstrating meaningful use of an Electronic Health Record (EHR) system as part of CMS’s Medicare EHR Incentive Program. You can read more about Georgia healthcare benchmarks here.

Navicure Survey Reveals ICD-10 Optimism despite Minimal Preparation

Navicure, a provider of cloud-based healthcare billing and payment solutions, today announced key findings from its third ICD-10 readiness survey, deployed in January 2015 in conjunction with Porter Research. The findings revealed physician practices are generally optimistic about being ready for the October 1, 2015, transition date, although only 21 percent feel they are currently on track with preparation efforts.

As with Navicure’s first two surveys, the majority of participants (57 percent) were practice administrators or billing managers from practices with one to 10 providers. The next largest group was billers and coders who made up 14 percent, followed by practice executives (13 percent).

The survey found physician practices’ state of ICD-10 preparedness varies widely. The majority (81 percent) are still optimistic they will be ready when the transition happens, and overall optimism toward ICD-10 readiness generally remained high. The findings were centralized around the themes of timing, readiness and challenges, including:

  • Physician practices don’t think ICD-10 will be delayed again. The majority of respondents (67 percent) believe the ICD-10 transition will take place on the October 1, 2015, implementation deadline.
  • Potential impact on revenue and cash flow is the greatest concern. Fifty-nine percent of respondents noted cash flow was a concern, while 12 percent indicated their greatest concern is staff productivity, followed by 11 percent who are most concerned the transition will be delayed again.
  • Respondents feel the biggest challenge will be dealing with unprepared payers. Forty-one percent of respondents cite lack of payer readiness as the most challenging aspect of the transition. End-to-end testing with payers remains a priority for practices, though the percent of those opting out of testing opportunities is increasing.

“Since 2013, Navicure has been conducting ICD-10 readiness surveys, which have allowed us to gain broad perspective on how we can best help healthcare organizations prepare for the transition,” said Jim Denny, founder and CEO of Navicure. “We remain committed to providing ICD-10 education and training resources for both clients and prospective clients, and we are eager to help them through a successful transition so they can maintain healthy revenue cycles and efficient workflows.”

This survey was a follow up to surveys conducted in April and November 2013. Navicure will sponsor additional surveys in 2015 to continue monitoring changes in attitudes and transition activities as the implementation deadline draws near. To view the complete, current survey results and analysis, visit www.navicure.com/surveythree.

About Navicure
Navicure’s cloud-based healthcare billing and payment solutions help healthcare organizations of all sizes increase revenue, accelerate cash flow, and reduce the cost of managing insurance claims and patient payments. Serving more than 50,000 healthcare providers nationwide, Navicure’s technology solutions automate account receivables processes, including claims management; patient eligibility verification; remittance and denial management, including automated secondary claims filing, appeals, and posting; reporting and analysis; and patient payment collections at and near the time of service. Navicure’s solutions are supported by its unique 3-Ring® Client Service which guarantees that a client service representative will answer every client call in three rings or less, even during times of transition such as 5010 and ICD-10.

Navicure is the exclusive billing and payment solution of the MGMA AdminiServe® Partner Network and an MGMA Executive Partner. In the past seven years, Navicure has been included among the top three clearinghouses in a field of more than a dozen solutions ranked by KLAS® (www.klasresearch.com), winning “Best in KLAS” distinctions in 2008, 2010 and 2012. Navicure also received the 2013 Gold Stevie Award for Healthcare Customer Service Team of the Year as part of the 2013 Stevie Awards for Sales and Customer Service. Navicure continues to be ranked among the fastest growing companies nationally in the Inc. 5000 and Deloitte Fast 500 rankings. For more information, please visit www.navicure.com.

About Porter Research
Porter Research – a Billian Inc. company – has for over 20 years worked diligently to understand and assess each client’s unique needs and to build a customized business-to business research program to achieve desired goals.

The company has worked with over 300 healthcare IT companies, providing many with Goto-Market Strategies based on its unparalleled experience, proven methodologies and knowledge-based analysis. Porter Research enables its clients to operate in a fast-changing market of new, emerging technologies and health reform issues such as ICD-10. It provides the unbiased results that healthcare clients need to make informed, strategic business decisions.

For more information, visit www.PorterResearch.com, follow @PorterResearch on Twitter, or call 678-282-1033.

Not Just Another Vertical Market: Developing a Healthcare Voice in a Multi-Vertical Company

There has been no short supply of companies who serve multiple markets focusing their attention on the healthcare portion of their business portfolio in recent years. Porter Research recently spoke with Brad Dodge, founder and CEO of Dodge Communications, about why companies with multiple verticals need an agency that specializes in healthcare to help them reach the traditionally closed-circuit market. Dodge, who has helped more than 200 organizations sell products and services to the healthcare industry, offered us a glimpse into his experience helping these companies gain better traction in the more complex market of healthcare.

Brad Dodge
Brad Dodge | CEO, Dodge Communications

Many companies are already using a PR or marketing partner to assist with their communications needs. What value have clients you’ve worked with seen in selecting a firm that specializes in only healthcare?
Dodge: It’s interesting because the healthcare industry is so unlike other vertical markets. We find that companies often don’t realize how unique an industry healthcare really is. When we’ve worked with firms like Experian or Comdata or Ricoh that have multiple verticals, they really find a lot of value in the expertise that we bring to their healthcare vertical because there are different pain points, different buying behavior, and different decision makers, and our expertise helps them make inroads to the market quickly.

Healthcare IT is at the forefront of national discussions. How can companies that might not be known for their healthcare offerings shift the conversation in their direction and make sure they’re developing brand recognition and a solid reputation in the space?
Many companies realize the importance of having a healthcare focus. They already have an established business that’s successful in other verticals and they conclude that a healthcare focus is key to their growth. They don’t always recognize how hard it’s going to be to do that. NCR is a good example—they acquired their way into the B2B healthcare space when we were working with them several years ago. It was an eye opener for them to see the differences between healthcare and retail and they had trouble quickly establishing significant brand awareness or thought leadership in healthcare. That’s where we were really able to add some value to what they were trying to do because we understood how to construct and approach healthcare segments and position their messages accordingly. We were really able to infuse a lot of value into their healthcare presence right from the word ‘go,’ more so than a generalized multi-vertical type of agency, or their parent agency would have been able to do from the start.

What strategies can a company use to expand the market’s perception of them and showcase their offerings in other divisions?
I think that it all has to do with messaging, really. The focus today is really on personalizing the message to a unique, individual buyer. It’s similar to the way Amazon or your other favorite retailers operate—they want to customize messages specifically to you. As these companies are able to segment down their market, they need to realize that the motivations and issues that a nurse informatics officer is dealing with are very different and distinct from what a CIO is dealing with. From a messaging perspective, they have to articulate those messages clearly so that you can resonate your message with the particular segment. The further ratcheted down you can do that—the closer to “one” that you can get for your targeted message—the better value you’re going to have with the efforts you’re putting forth in PR and marketing.

How can you simplify the complex messages that are so often present in healthcare IT and help companies clarify what they are trying to say?
These complex messages are complex for a reason, because it’s really tough stuff that these healthcare companies are doing and they’re really complex solutions that they’re bringing to the table. There’s really not a one-size-fits all kind of answer to this question. Companies need to have a number of different communication vehicles, from the heavy duty stuff like a whitepaper or ebook – even their Web content might be heavy, whereas they also need to have simple things like video testimonials, solution overviews, infographics and other visualizations that make it easy for someone to understand. It’s not that a person can’t understand what they’re talking about, but they often can’t understand it quickly because it’s such a complex message. Once you go into it understanding that, you realize that you need different levels of communication in order for people to understand the concept and then go as deep as they need to understand the deep intricacies of the solution that they’re bringing to the table.

Survey Highlights HIPAA Compliance Concerns as Audits Loom

NueMD, in partnership with Porter Research and The Daniel Brown Law Group, announced the results of its recent survey on HIPAA compliance within small medical practices and billing companies, gauging respondents’ knowledge of HIPAA’s Privacy and Security regulations, compliance measures and communication methods.

Survey trends suggest billing companies may be doing better
with compliance compared to medical practices.

The survey of more than 1,100 healthcare professionals found that practices and billing companies are struggling to comply with regulations under the Health Insurance Portability and Accountability Act (HIPAA), revealing several areas of concern:

  • 66% of respondents were unaware of HIPAA audits
  • 35% of respondents said their business has conducted a HIPAA-required risk analysis
  • 34% of owners, managers and administrators reported that they were “very confident” that their electronic devices that contain PHI were HIPAA compliant

With a new round of HIPAA audits looming for both Covered Entities and their Business Associates, NueMD hopes survey findings will help medical practices and billing companies better prepare.

“Understanding HIPAA can be difficult for practices and billing companies, especially if they’re already scrambling to keep up with changes like ICD-10 and Meaningful Use,” said Caleb Clarke, Sales and Marketing Director at NueMD. “With audits looming, we wanted to get a sense of where the industry stands and provide resources to help those who may be struggling.

Survey analysis identified the biggest areas of risk and potential improvement, and offers tips for achieving compliance. NueMD has published the results in an easy-to-consume narrative that explains aspects of HIPAA compliance, presents the data and offers resources for practices and billing companies who want to learn more.

To view the results, please visit http://www.nuemd.com/hipaa/survey.

About The Daniel Brown Law Group, LLC
The attorneys at The Daniel Brown Law Group specialize in transactional and regulatory healthcare law offering expertise in Stark, Anti-Kickback, HIPAA, Medicare Audits and Appeals and a variety of other compliance issues. They also advise clients on how to structure new healthcare service lines and mergers, as well as consolidations and joint ventures.

About NueMD
NueMD is the leading provider of cloud-based medical practice management software for small practices. Powered by Nuesoft Technologies, Inc., NueMD offers practice management, electronic health record and medical billing software and services to help physicians maintain the clinical and financial well-being of their practice. For more information please visit www.nuemd.com.