Market Research: Healthcare

Should NSR focus their marketing campaign on the healthcare industry or target all SMBs?

Recommendation:

NSR should target the healthcare industry.

Reason #1 Clinics are increasing IT spend.

Reason #2 Practices require assistance.

Reason #3 NSR can leverage expertise.

Increased IT spend Pricing pressures and government regulations driving change.

Practices must become more efficient. Investment in long-term, cost-saving technologies is a must.

From 1980 to 2000 (Erik Swain, MEDTAP International)

Technology strategy is central to the success of healthcare organizations.

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Cost Benefits

ROI per $100 Spent

Dates (Source)

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2003 2005 2007 2009

Infrastructure

HIPAA

PracticeManagement

EMR

Spending is projected to increase to over 5% of revenues.

Practices require assistance Practice managers are relying on outsourced support.

“Technology is transforming healthcare, helping us improve lives and reduce spending.” Pamela Bailey, President, AdvaMED

Compliance Bush Administration is pushing for standardized EMR system within 10 years.

Limited internal resources Internal IT staff is not cost-effective, but technologies are too complex to implement alone.

NSR can leverage expertise Limited competition and large experience curve.

Experience Curve Lower overall costs and higher quality service.

Existing Partnerships Single source for integrated solutions and support.

Limited competition Specialized knowledge, experience, and reputation create a large barrier to entry.