Creating HCIT Solutions in Response to Changing Market Trends (Volaris Net Healthcare Recap)
In December 2020, business leaders from across the country gathered at Volaris’s virtual Healthcare networking event. In this session, panelists discussed the value-based care (VBC) paradigm and the impact on Healthcare IT. The discussion was led by leaders from two Volaris businesses, Clarity Group and medaptus, to share insights about how their companies pivoted to accommodate the shift from volume to value-based care.
Here are a few key takeaways from their discussions about how to create new software solutions in response to changing market trends:
1. Understand Your Market
The shift from volume to value-based care presented positive change for patients, providers, and the community at large. With the prospective benefits of lower costs for patients, improved outcomes, and better overall health for the community, Clarity Group and medaptus recognized an opportunity to leverage their software to help providers take care of patients more efficiently.
Before beginning the development of a new product offering, Clarity Group and medaptus conducted research to ensure a clear understanding of the market and trends in the shift to VBC. Specifically, it was important for both businesses to understand the history of volume-based care and the shift to value-based care in order to create new software solutions that would meet the needs of the market. They focused on industry data and reports, insights from end users, and thorough analysis of the competition. By understanding this industry shift, Clarity Group and medaptus were able to show customers that they were in tune with their customers’ needs.
2. Create Alignment with Your End User
When developing a new software solution, it was important to Clarity Group and medaptus to keep the experience of the end user (physicians) in mind. To identify the impact of a new solution on physicians, Clarity and medaptus asked themselves the following questions:
- What problems do our solutions and services currently solve?
- How do they impact physician needs as it relates to VBC?
- What barriers do physicians face when striving to achieve higher quality care?
- How do we mitigate these barriers through new software solutions?
- What strategies will we apply to offer a solution for physicians that meets the needs of VBC?
By determining how to best support the needs of their software users, Clarity Group and medaptus were able to create true alignment with their end users.
3. Determine How to Introduce Your Solution to Customers
After uncovering the needs of the industry and alignment with the end user, Clarity Group and medaptus had to determine how to introduce their new solutions to their customers. In the early stages, Clarity Group created content expertise including white papers, webinars, and panel discussions with subject matter experts from across the country. They then determined how to roll out the solution to their customer base. Clarity Group took a very programmatic approach and focused on how they would approach implementing the new solutions. Focusing on the how helped Clarity Group in the beginning when early guidance on VBC was unclear, and regulations and incentives were still being determined. Clarity worked with providers to learn together while still offering a solution that had significant value-adds, including higher incentives for higher quality care. They were sure to outline these value-adds in their promotions and discussions of the new solutions.
4. Consider the Impact of Adding a New Solution on Your Business
Before spending the time to develop a new product offering, Clarity Group and medatpus needed to consider the impact on all aspects of their businesses. It was especially important for medaptus to ensure funding for the development of a brand new solution. In the case of volume- to value-based care, medaptus needed to address the shift from solutions that primarily impacted the administrative staff to their new solution that was designed to support clinical teams. They also needed to ensure their system was available at all times for clinical staff with increased support hours and support response times. This included increased system and data integration points as the new solution was a more complex offering for medaptus.
In addition to securing time and funds, it is extremely important to protect the core business throughout the development of a new solution. This includes avoiding distraction with the new initiative, balance and discipline in allocating resources, and even sharper ideal customer criteria. By following these best practices, Clarity Group and medaptus were able to protect their core business while efficiently developing new software solutions in response new industry trends.
As companies within Volaris Group, Clarity Group and medaptus will have support in key areas of business including best practice sharing and collaboration with industry experts. They will continue to serve their markets by developing new, innovative software products and solutions.
To listen to the full panel discussion, watch the event recording!