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New physician survey provides market research for healthcare ISVs

This post is sponsored by Fathom. Seventy-seven percent of physicians report being challenged by using […]

This post is sponsored by Fathom.

Seventy-seven percent of physicians report being challenged by using healthcare IT in their practices. As the demand for health IT increases, independent software vendors (ISVs) would be smart to think about ways to relieve physicians of this burden. According to BCC Research, clinical health IT spending is expected to reach $26.1 billion a year in 5 years, up from $9.5 billion in 2011. With providers predicted to invest this much money despite physician challenges, ISVs should be ready to present their offerings as the (simple) answer to all their problems.

What are physicians saying?  “Help us!” They’d rather be attending to patients and keeping informed on the latest research. If health IT companies can help free up their time by creating efficiencies and making the technology generally easier to use, then they stand to gain.

Physicians are also saying things are getting expensive. Two-thirds of them report that costs are rising at their practices, citing healthcare IT adoption as a leading factor. The healthcare ISV that works hardest to keep costs down while fielding a competitive solution should ultimately win more business. If, on the other hand, high market costs are unavoidable, then the ISV that can demonstrate a superior return-on-investment in terms of productivity or increased efficiencies over a competitor is the one that might gain enduring popularity (and better positioning for future industry consolidation).

In any of these cases, a great marketing opportunity exists: Sending hospitals and physicians the message that your IT solution will a) not contribute immediately to rising costs; b) make their day-to-day lives easier; or c) pay for itself over time is one that should resonate.

The same report cited earlier–the “Wolters Kluwer Health 2013 Physician Outlook Survey”–also found a majority of physicians saying of health IT that little-to-no progress had been made in:

  • Ensuring ease of use (56 percent)
  • Improving patient relationships (61 percent)
  • Increasing efficiency/saving time (66 percent)

Again, anything an ISV can do to make its health IT software easier to use, improve patient relationships or increase efficiency should go a long way toward physician satisfaction and greater growth opportunities. Physicians clearly stated they’re looking for progress; smart ISVs should listen to their feedback and explicitly address those needs both in their solutions and in the marketing of those solutions.

Whether these messages lead the marketing of software for electronic health records (the biggest and most obvious market), point-of-care technology, electronic prescribing/CPOE, telehealth or analytics doesn’t matter. The organizational need is vital across categories, and maybe a future solution combines some or all of these technologies–I don’t know, I’m neither a doctor nor a programmer. But I do know that as a marketer, showing physicians how your health IT offering can be the answer to their problems is a compelling proposition.

Learn more about capitalizing on physician challenges; using marketing automation to target healthcare providers; sizing up the market for EHR replacement; and addressing privacy concerns surrounding mobile apps: “Market(ing) Opportunities for Independent Software Vendors in Healthcare.”


Fathom

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