Determining the “intent” of a hospital or healthcare organization to purchase a new technology solution is complicated. It’s certainly not as simple as a sliding scale indicator on a website homepage. Confirming whether a healthcare provider is ready to implement, or switch technology solutions requires real-time data on technographics, contracts, requests for proposal (RFPs), and newsworthy announcements.
Here are a few of the ways you can leverage key intelligence to get ahead of your competition and grow your market share.
Updated technographics are the first step in determining whether an organization may be ready to implement new technology – enabling you to discover which tech solutions hospitals and health systems are already using.
“Technographics” refers to the technologies used by healthcare organizations to run effectively, including how and when they use these tools. This data allows you to gain greater insight into how providers operate and make purchasing decisions, as well as what technologies they are not using that would be beneficial.
Knowing a healthcare provider’s current technology solution can also help you identify their specific pain points. For example, if a hospital reports disparate inpatient and ambulatory electronic health record (EHR) systems, they may be facing interoperability issues. This is your opportunity to propose an integrated solution that improves communication between departments.
Healthcare organizations using a smaller or proprietary system, might be enticed by a technology solution from a larger vendor, which would likely offer improved interoperability and a larger user base. Prospects that have already implemented software from a larger or more well-known competitor might be less likely to switch vendors. With more widely implemented systems, there is a greater likelihood that there will be comprehensive training available for new users and greater industry familiarity—easing the potential transition for a new hire who might be required to use a given software.
Fig 1 Image taken from the hospital profile for Massachusetts General Hospital (Definitive ID 1973), and features information on technology opportunities. The opportunity intelligence is based on insights from the LOGIC platform.
Requests for proposal
When healthcare organizations are seeking a new solution or service provider, they’ll often issue a request for proposal (RFP) to solicit bids from eligible parties. In some places, RFPs are legally required for care facilities soliciting necessary services. This mandate may work to your advantage; the bidding process is open to vendors and service providers of any size and allows the soliciting organization to filter out unqualified bidders, leveling the playing field for smaller or lesser-known businesses.
Fig 2 Image is a screenshot taken from Definitive Healthcare’s RFP search, featuring a past-due RFP for a solicitation in the construction space.
In addition, RFPs allow healthcare organizations to outline exactly what they’re looking for, which gives you the opportunity to create a custom solution that caters to their needs. Nearly half of healthcare RFPs tracked by Definitive Healthcare in 2019 were in the medical and surgical equipment (23%), construction (14%), and consulting (10%) industries.
News and announcements
In the competitive healthcare IT space, acting quickly can be the difference between winning a deal and being beaten out by a competitor. Industry news – like mergers and acquisitions, facility openings, and construction – are ideal opportunities to introduce new or expanded technology solutions and training.
As the healthcare industry continues to consolidate, mergers and acquisitions are becoming increasingly common – opening doors to provide a streamlined technology solution. If an acquired organization is using a disparate system, it is likely that the parent organization would choose to standardize technology implementation in order to ensure interoperability and eliminate possible interruptions in communication.
Much like merger and acquisitions intelligence, affiliations data plays a major role in determining purchasing intent. If a hospital is part of a network, or is the partner of a larger organization, installing the same software is a logical way to prevent information loss and improve data sharing.
Hospital referral patterns
Fig 3 Image taken from the Hospital Referrals visual dashboard within the DHC Visuals platform.
In June 2019, Grays Harbor Community Hospital and Harbor Medical Group were both targeted in ransomware attacks—with hackers demanding more than $1 million to restore access to encrypted patient records. With such important information at stake, cybersecurity is going to continue to be emphasized at healthcare organizations across the country.
Fig 4 Image taken from the hospital profile for Massachusetts General Hospital (Definitive ID 1973), and features information on data breach history.