Tag Archives: transformation

Beyond Cost Cutting: Health IT’s Role in Financial Health

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Health systems continue to face complex financial challenges. Industry articles highlight the few that have strong operating margins while also noting the many facing continued operating losses. Becker’s Hospital CFO Report published the article, “25 factors that could affect health system performance in 2024”, by Alan Condon on September 8th. It is a comprehensive list and worth reviewing.

What do these financial challenges mean for health IT leaders? I talk to many CIOs who are faced with cost cutting targets and dealing with very limited budgets yet long lists of priority projects. It’s no surprise. Health systems often fall into the trap of relying solely on cost-cutting measures, particularly in the realm of IT and staffing.  While trimming expenses is essential, it’s just the starting point.  Organizations must carefully consider all the impacts on operations and especially morale.

At StarBridge Advisors, we advocate for a comprehensive approach that goes beyond mere savings, encompassing revenue growth, digital transformation, and effective change management. This multi-faceted strategy promises swift improvement to your bottom line, operational efficiency, improved staff morale and progress toward the goals of the Quintuple Aim.  IT enablement is often essential to these activities. You can use these opportunities to leverage the IT investments that have already been made.

In a recent series of four blogs written by Principal, David Muntz, we offer practical and pragmatic guidance on each crucial aspect of this approach.  The benefits are tangible and span from immediate gains to long-term sustainability.  Our expertise empowers your organization to undergo both tactical and strategic transformations, ensuring uninterrupted top-tier patient care without compromising on IT performance or security.

We can help your organization hardwire the Quintuple Aim. Partner with us to revitalize your health system’s trajectory, creating growth opportunities despite financial constraints.  I hope you’ll take time to review the series and let me know if we can help you and your organization.

StarBridge Advisors blog series:

 

ERPs enable business transformation

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In the spirit of re-use and recognizing that I’ve already met my weekly discipline of blog writing, I encourage you to check out my StarBridge Advisors blog post published this week – “Will your ERP enable the business transformation you need?” After decades of focus on EHRs, health systems of all sizes have or are turning more attention to their ERP solution(s). In my post I share some of the key questions organizations need to consider and perspective on ensuring a successful ERP journey.

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Resources for your digital health journey

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My StarBridge Advisors colleague, David Muntz, wrote an excellent blog series on Digital Health over the past year. His latest in the series is titled, “Digital Health – Planning for the Virtual Campus”. David’s ability to define digital health and provide a blueprint for organizations is impressive. This most recent post does not disappoint. He describes the changes that health systems have made in care delivery during the pandemic and poses the question – where do we go from here? He outlines 12 steps organizations should take. Here is a partial list just to whet your appetite:

  • Embrace the same discipline and framework to create the virtual campus as for a traditional campus
  • Query a broader representative sample of stakeholders than you have in the past
  • Plan for the underserved and those who might be excluded because of the digital divide
  • Personalize the experience for providers, patients, and families
  • Use augmented intelligence (AI) and machine learning (ML) during the data collection process

I encourage you to check out the entire post. If you are interested in any future posts in David’s digital health series, subscribe to View from the Bridge to get notifications of new posts. Our team of advisors regularly contributes posts on a wide range of topics relevant to today’s healthcare executives and IT leaders.

The New England HIMSS 2021 Annual Spring Conference: “Empowering People to Impact Health Through Information and Technology” was this week. Continue reading →

Digital health has arrived

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Every healthcare organization seems to be focusing on developing their digital health strategy these days. But do we have a common definition and understanding of what digital health means? A few months back I wrote a post called “Knocking on the digital front door” addressing what many organizations mean when they talk about digital health. Meeting patients where they are and guiding them along the right care pathway with efficient, consistent, and easy processes in the background. It was a very popular post, so I guess it resonated with many.

But digital health encompasses far more than just the digital front door. My StarBridge Advisors colleague, David Muntz, has taken on the broader issues of digital health this year in a multi-part blog series on View from the Bridge. Here is his four-part series if you are ready to go deeper on digital health:

Digital Health – Is Healthcare Ready? Are You and Your Organization Ready?

Becoming a Digital Health System

Digital Health – Governance in a Digital Health System

Digital Health – The Role of Empathy and Understanding

If you are interested in future posts in David’s digital health series, subscribe to View from the Bridge to get notifications of new posts. Our team of advisors regularly contributes posts on a wide range of topics relevant to today’s healthcare executives and IT leaders.

And if you are looking for help developing your digital health strategy and roadmap, David or I would be happy to schedule time to talk.