structuring a strategic partnership with your key...

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“Structuring A Strategic Partnership With Your Key Vendor”

A Complimentary Webinar From healthsystemCIO.com

Sponsored by Health Catalyst

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Thank You!


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Housekeeping

• Moderator – Anthony Guerra, editor-in-chief, healthsystemCIO.com

• Ask A Question• We will be holding a Q&A session after the formal presentations. • You may submit your questions at any time by clicking on the QA 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.”

• Download the Deck • Go to: http://healthsystemcio.com/presentation/partnering-webinar.pdf• Shortened link below appears on all slides.

• View the Archive• You will receive an email when our archive recording is ready. • Separate registration is required.

http://healthsystemcio.com/presentation/partnering-webinar.pdf


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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 : partaker2 a : one associated with another especially in an action : associate,

colleagueb : either of two persons who dance together c : one of two or more persons who play together in a game against an

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

of 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

partaker

associate

colleague

partnership


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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 completecontract

• 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 VendorDale Sanders, SVP, Health Catalyst


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Great Healthcare IT Vendors

The Top 10 Essential Behaviors


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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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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 on 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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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 andrevenuecycle required for managing the risk of bundled payments.


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Q&AClick 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)

• Don’t Forget To Claim Your CHIME CHCIO Credits – Attending healthsystemCIO.com Webinars = 1 CEU

• Thanks to our sponsor: Health Catalyst!

• Questions/Comments – Anthony Guerra [email protected]

Go to www.healthsystemCIO.com/webinars to view our upcoming schedule and see the last 12 months of archived events.

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http://www.healthsystemcio.com/webinars

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