Structuring A Strategic Partnership With Your Key Vendor A - - PowerPoint PPT Presentation

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Feb 10, 2023 286 likes •495 views

Structuring A Strategic Partnership With Your Key Vendor A Complimentary Webinar From healthsystemCIO.com Sponsored by Health Catalyst Your Line Will Be Silent Until Our Event Begins Thank You! Slide Deck: http://goo.gl/GfZEBW Webex

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“Structuring A Strategic Partnership With Your Key Vendor”

A Complimentary Webinar From healthsystemCIO.com Sponsored by Health Catalyst Your Line Will Be Silent Until Our Event Begins Thank You!

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Housekeeping

Moderator – Anthony Guerra, editor-in-chief, healthsystemCIO.com
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Agenda — 45 Minutes

20 minutes: Marc Probst, VP/CIO, Intermountain Healthcare
5 minutes: A Word From Our Sponsor: Dale Sanders, SVP, Health

Catalyst

20 minutes: Q&A w/Marc Probst

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Structuring A Strategic Partnership With Your Key Vendor

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A marriage made in heaven

…and a prenuptial made on earth, by lawyers, hopefully very detailed…covering all foreseeable circumstances, with penalties, out clauses, IP protection, force majeure and “until death, or a more interesting partner comes along, do you part”

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Partners – really?

part·ner

1 archaic : one that shares : partaker 2 a : one associated with another especially in an action : associate, colleague b : either of two persons who dance together c : one of two or more persons who play together in a game against an

pposing side

d : a person with whom one shares an intimate relationship : one member

f a couple

3 a member of a partnership especially in a business; also : such membership 4 one of the heavy timbers that strengthen a ship's deck to support a mast —usually used in plural

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Partners – yes really

Each Partner must have “flesh in the game”.
Need to focus on what “success” means to each partner.
No replacement for trust – and it is very hard to re-build (but, can be

done, it is about money after all).

Personal Trust
Organizational Trust – “XYZ just bought our membership system”
Work out your differences in the contract as opposed to on the

playing field– makes overcoming execution challenges much easier.

These are business decisions – not personal decisions.

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Partners – yes really

Picking a partner:
Top down selection is seldom sustainable
Those accountable must be part of the decision process – period
Seems many sales people want to sell around your operations
Shared vision is a start, shared commitment is great, shared

values are tremendous

Nickel and diming is like nagging – build it out of the partnership
Sometimes a third party can really help to add perspective and

re-align areas where the partnership has gotten askew

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…even if you do everything right…

So you think you’d like to build a new EMR with us

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….50% of all marriages in America end in divorce…

Remember, these are business decisions, not

personal

From day one – it’s an open marriage with both

parties having multiple partners

Don’t argue in front of the kids

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…and they lived happily ever after

Major imaging vendor
Large Medical Records system partner
Huge technology vendor
Small local electrical contractor
Service provider for “strategy” assistance
The newest girl to the dance is the prettiest

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Should I Sign On The Dotted Line?

Yes, if …
it meets your needs
meets your value expectations
you trust your partner
you’ve developed a very complete

contract (don’t short cut here)

you are prepared to meet your

commitments (financial/other)

your organization is onboard (up

and down)

No, if …
you’re not prepared for the

partnership to change and not be everything you thought it would be

you haven’t done a complete

contract

you feel like you can “win” or

exploit the partner

the decision is based on a

relationship

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Work It Out Or Get Divorced?

Work it out if …
Trust remains
You’ve done a detailed diagnostic

review of the project and both parties agree on the mistakes and how to move forward

Both parties will own up

(responsibility and financially) to their role in where the project is and where it is going

Your organization supports the

project

Get divorced if …
There is no hope to regain trust
The bickering continues
You’re alone out on the branch
Your eye (or your organization’s

eye) has fallen in love with another

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Structuring A Strategic Partnership With Your Key Vendor

Dale Sanders, SVP, Health Catalyst

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Great Healthcare IT Vendors

The Top 10 Essential Behaviors

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The Top 10 Essential Behaviors

1. Help Me Compete: Help me build my “Annual Report for Information Technology” as if my IT organization were a separate, standalone business that could be outsourced. 2. Help Me Hire: The market for healthcare IT employees has never been more competitive. If you know I’m having a hard time recruiting for a critical position that is important to the success of your product in my organization, help me find a great match. 3. Help Me Measure: The Age of Analytics in healthcare is just beginning. Our industry is way behind in the proper use of data to drive costs down and quality up. Help me address my short term analytic needs, but do so within the scope of a longer term strategy. 4. Help Me Save: Simplify your licensing, billing and contract administration. Make it as easy as possible for me to manage my expenses with you, and especially make it easy to predict and budget for increases in prices due to inflation, increased number of users, transactions, etc. When you give me a new contract to sign, put a face sheet on it that summarizes the key issues and terms – don’t make me read 15 pages of legal jargon. Likewise, if you know of a creative way for me to reduce licensing fees, try to be motivated by our long term relationship instead of your immediate potential loss of

commission. You will win more of my business, easily.

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The Top 10 Essential Behaviors

5. Help Me Listen: Be proactive in extracting the ROI and value from your products. Help me look good and thus make your product look good, too. If you know that I’m under-utilizing your products or have them configured improperly in some way, pester me until I fix it. I’m busy and juggle lots of priorities. Be the squeaky wheel until I listen. 6. Help Me Expand: Annual conferences and blogs are not enough for me to keep up with everything going

n in healthcare right now. Help me build close relationships with a limited number (3-4) of peers or mentors

who have a similar organization, product mix, and profile so we can learn from one another. Force us to meet and hold a conference call every once in awhile. Facilitate the meetings. Help us reuse strategies, policies, and technology as much as possible. 7. Help Me Plan & Innovate: Help me build my strategic roadmap by overlaying the needs and culture of my organization with your products and the future outlook of the industry. Look ahead for me and pester me until I build that roadmap with you. I am particularly concerned about the growing sophistication of cyber

attacks. And I’m also concerned that I’m not leveraging mobile computing as well as I could. Push me on these

two issues, please.

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The Top 10 Essential Behaviors

8. Help Me Migrate: Help me build the cheapest, safest, quickest path to ACO and ICD-10 adoption for my company and critical partners in the insurance industry. 9. Help Me Prove: Help me build the cheapest, safest, quickest path to Meaningful Use qualification for my company, and don’t charge me anything extra, because this is something you should have done for every customer a long time ago. The Meaningful Use legislation forced it but, like HIPAA, we should have been doing this all along.

10. Help Me Evolve: ACOs are coming; one way or another. Even if they are nebulous right now, we know

that there are certain characteristics that will survive. In particular, you better have a product strategy for both engaging patients in greater accountability for their own care and the changes in cost accounting andrevenue cycle required for managing the risk of bundled payments.

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Q&A

Click on the Q&A panel located in the lower right corner of your screen, type in your questions in the text field and hit send. Please keep the send to default as “All Panelists.”

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Thank You!

You will receive an email when our archive recording is ready.

(Separate registration is required)

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Thanks to our sponsor: Health Catalyst!
Questions/Comments – Anthony Guerra aguerra@healthsystemCIO.com

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