Reduction of operating expenses is a strategic imperative in all businesses.  This is nowhere more true than in healthcare.  Whether a large hospital system, an independent provider group, a product manufacturer, or a payer, continuing to drive financial efficiency is critical to survival.  Reduced valuations, inability to grow, layoffs and even bankruptcies of every category of healthcare company are everyday occurrences.

Data collection and analysis represent a major cost center for each of these categories.  It is increasingly difficult to justify expensive EMR systems, research platforms, internal servers — and the personnel and vendor costs associated with them.  “Data” was supposed to constitute a positive return on investment.  In fact, not only is that ROI proving to be negative, it is so negative as to threaten financial stability of the entity.  

Healthcare data are undoubtedly important.  Indeed, the right datasets are more important than ever.  Validated fit-for-purpose datasets lead to better and more predictable clinical outcomes, to product development, to value-based care, to health equity.  As such they can represent a profit center.

Moreover, those datasets can be developed for a fraction of the price currently paid by healthcare companies.  For the type of datasets which make a difference, modern technology enables superior substantial cost reduction and superior user experience for clinicians, support staff, researchers, and patients.

Contact us to learn more.