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2009 MEDITECH Customer Events. Financing IT PROJECTS: Successfully Linking, Financial And Technology Strategies. Bradley R. Swenson, VP – Winthrop Resources Member: MUSE, HFMA, MGMA, HIMSS, AICPA. * Accenture Ads – 2007-2009. * Accenture Ad - 2009.
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2009 MEDITECH Customer Events Financing IT PROJECTS: Successfully Linking, Financial And Technology Strategies Bradley R. Swenson, VP – Winthrop Resources Member: MUSE, HFMA, MGMA, HIMSS, AICPA
How Will Your Strategies Be Affected By The “Forces of Change”?
How Will Your Strategies Be Affected By The “Forces of Change”?
Agenda • Linking Business/Financial and Technology Strategies • Identify Healthcare Forces of Change • The ARRA/HITECH Carrot/Stick • Mapping Costs to Benefits Received by ARRA and System • Q & A
Link Your Business/Financial With Technology Strategies BUSINESS/FINANCIAL STRATEGIES “…technology is not a goal; its an enabler. Technology only matters in so far as it enables sound business processes.” Robert Fromberg, Editor-in-Chief HFM ENABLES DRIVES TECHNOLOGY STRATEGIES
How Will Your Strategies Be Affected By The “Forces of Change”? BUSINESS/FINANCIAL STRATEGIES OPPORTUNITY RISK TECHNOLOGY STRATEGIES
Identify Your Forces of Change Healthcare IT is impacted by Market, Hospital and Technology Forces of Change Definition of "Meaningful Use” Changes in the “Carrot/Stick of ARRA/HITECH HIPAA • CCHIT, Changes in Standards • Implications of Interoperability • Vendor Trials/Tribulations • ICD10 Integrating with Affiliated MDs Clinical User Adoption Financial Implications Marketing/Competitive Implications
Healthcare Forces of Change - Technology • TECHNOLOGY • Workflow Efficiencies • Better, Cheaper, Faster • New Standards • Vendor Trials/Tribulations
Healthcare Forces of Change – Technology: Moore’s Law Moore’s Law: transistor count doubling every two years 4004 Dual-Core Itanium Pentium
Healthcare Forces of Change – Technology Hospital • HOSPITAL • Mission • Recruiting/Retaining Staff • Competition • Financial
Healthcare Forces of Change – Hospital: Recruiting/Retaining MDs
Healthcare Forces of Change – Hospital: Recruiting/Retaining MDs 100% Computerized Doctor Orders 100% Medication Scanning
Healthcare Forces of Change – Hospital: Recruiting/Retaining MDs • MARKET • The Economy • Reimbursement • Regulatory • Government • Consumerism
HITECH Act: How close are we to ‘Meaningful Use’? *HIMSS Analytics
HITECH Act: How close are we to ‘Meaningful Use’? *Healthcare Informatics - 07.09
Build Agility into Strategy Lease Lease Loan Loan Tax-Exempt Tax-Exempt Cash Cash Bond Bond
What Technology Requires Agility? Lease Lease Loan Loan Tax-Exempt Tax-Exempt Cash Cash Bond Bond
Build Agility into Strategy BUSINESS/FINANCIAL STRATEGIES • Linking Business/Financial and Technology Strategies • Identify Healthcare Forces of Change • The ARRA/HITECH Carrot/Stick • Mapping Costs to Benefits Received by ARRA and MEDITECH TECHNOLOGY STRATEGIES
BRIAN SLIPKA Winthrop Resources – General Manager Carolinas bslipka@winthropresources.com 952.936.0226 DAN MANDY Winthrop Resources – Government Affairs dmandy@winthropresources.com 952.656.7687 BRADLEY R. SWENSON Winthrop Resources – VP Healthcare Practice bswenson@winthropresources.com 952.656.7689