As of late, I’ve noticed that technology executives are under immense financial pressure and as a result appear to be willing to partner with nearly any provider and/or payer to advance their solution in the market. Picking a partner needs to be a judicious process. Technology innovators may be better served by having a robust set of strategic criteria and questions to work through first. This may allow the tech-enabler to GO SLOW to GO FAST, avoiding the GO FAST then having to GO SLOW because of a failure to do the right level of upfront due diligence. Basically, slow down and make sure the provider and/or payer has the right complementing capabilities, culture, governance structures, and cybersecurity mechanisms. There doesn’t need to be a perfect match. However, if there is significant misalignment this may be disastrous.
Below are few strategic questions to consider when exploring potential payer/provider partnerships:
Do we have the right complementing capabilities & culture to work together in a synergistic way?
What current and emerging cybersecurity risks must we consider?
How can we narrowly scope the deployment and learn in the most controlled context with the fewest number of cofounding factors?
Which patients would be best served by this solution and what are their defining characteristics and needs?
What results do we expect to get by when, and what might be the unintended consequences of our partnership?
For further insights into the healthcare market and value-based care, I’ve provided links to two information rich articles from McKinsey & Company.
About the author: Jeff Lewis is a registered nurse and independent consultant at NextGen Executive Consultants LLC, a nurse owned business. He provides advisory services to technology innovators, health systems, and plans regarding transformational strategies in value- based population health management. #healthcare#work#cybersecurity#nurse#tech#strategyThe Nursing BeatBeyond the Bedside®Institute for Advancing Health ValueRace to ValueViVECHIMEHealthcare Technology Innovation Centre
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