What good is great technology if you can’t see how it’s impacting your bottom line?
That was the question a software firm asked recently when they came to us for insights. This company’s clients were thrilled with the capabilities the current platform offered, specifically tracking safety, quality episodes and corresponding interventions. What they wanted to add was a window into how their inventions provided a financial benefit to the organization using the systems. Certainly, their systems would be more efficacious when they provide the customer base with a strong value proposition through return on investment (ROI) reports.
The ROI for these real-world operational issues can be hard to prove, but using industry experience and financial acumen, Blaze quantified the opportunity and invention costs, and hence, the resulting value. This required the development of a new financial analysis module, one which leveraged industry benchmarks and calculated the opportunity for improvement.
Blaze worked within the client’s existing software and navigation paths to blend the financial model into the new version. As a result of the new module’s clean integration, nurses can quickly understand the impact of adding a training class for employees or adding work steps in employee’s workday.
By also providing documentation and financial templates, screen layouts and detailed explanations for developers, the company could minimize any implementation disruption, saving expenses that interruption often cause.
The client has found many opportunities to demonstrate how their refreshed product makes financial sense. As a result, the sales process is faster and customer satisfaction is over the moon.
Blaze Advisors would be happy to speak with you about how our team can identify opportunities for your health care technology to deliver greater ROI.