HTD Health

Fresh off giving a HLTH Inc. Community Masterclass with Rick Bartels, MBA on pitching your solution to health systems and a week at CHIME, I figured it's time to share some insights…. Oh, and look for related video(s) coming out next week. If there are any points you would like me to focus on next week, drop a 👋 below. "We don't need another solution - we need outcomes we can manage and pay for." - every health system CXO I've talked to this year 😅 After 30+ years of working in healthcare and tech, here's what no one (or everyone if you are listening) tells you about selling to health systems in 2024: 🎯 The Real Decision Drivers: RISK (The stuff that keeps CIOs up at night): -Organizational risk in a period of little-to-no revenue and for some AMC’s, record losses -Team bandwidth constraints -Individual career implications (yes, this matters) -That dreaded "strategic ROI" conversation 💰 The Cost Conversation Has Changed - Or Has It: For some, labor costs have improved but it is about more than that -It's about: "Can you increase care while reducing admin burden without additional cost?" -The real question: "Who's actually going to implement this?” (most likely not the system) -The next real question: "Who's actually going to manage this?" (can you help?) -Bonus points: Can you take on financial risk for cost AND outcomes? If so, be SURE you know how to manage the risk 🔄 The Interoperability Reality Check: -All roads lead to the EMR - no exceptions -Is it on, or potentially on Epic's roadmap? (Be honest) -Have a handle on the administrative and policy environment. Things like CMS Final Rules 9115 & 0057 do not just impact Payers -Do you have your certifications in order? Do your own vendors have them as well? -TEFCA readiness - yes, that AI-generated image of TEFCA’s funeral is a talking point 🤝 Credibility Killers & Winners: What Actually Matters: -Perceived honesty (be more than perceived) > Technical capability -Similar client references (especially clinicians) from US institutions (if servicing the US) -Clear implementation and post-purchase support plan -Solid financials (they'll check) Hidden Factors: -Health systems want to be acknowledged (ego really is a thing) -Purchase seen as benefit to you, the vendor (be thankful yes but remember you also provide a benefit) -Have a clinical champion before pitch (these systems provide care after all) -Data to back EVERY claim 💡 Quick Tip: 3-7% of their budget is IT. Know where you fit. -Here's what keeps me up at night: In a time when AMCs are posting record losses, solutions need to address the root cause, not the symptom. Along with my partners at HTD Health, we're seeing successful vendors focus on demonstrable outcomes over features. Risk + Cost + Outcomes = wins. What's your experience selling to health systems? Health system friends, what did I get wrong or miss? Drop a 👋 below if you want to discuss stories from the trenches offline or have recommendations for those videos.

The latest from HTD Health's Brendan Keeler (AKA Health API Guy). Read, subscribe, learn, repeat. The Epic Defense: A Legacy of Protected Innovation How Early Setbacks Shaped Epic's Approach to Partnerships and Intellectual Property https://lnkd.in/daTNcuvX

🚀 Ready to crack the code on health system partnerships? Join our power-packed masterclass with two healthcare sales wizards who've been there, done that! 📅 Wednesday, November 13th @ 11 AM ET Meet your guides: Jacob Jesson, HTD Health Rick Bartels, DTxCC (Digital Therapeutics Commercialization Consultants, LLC) Key takeaways you'll gain: → Understanding health system priorities → Building compelling value propositions → Crafting the perfect pitch → Navigating procurement processes 🔗 Apply to attend: https://lnkd.in/ebAa35H5 Limited spots available for this can't-miss session for #healthtech founders and executives! #DigitalHealth #HealthTech #Innovation #HLTH #Healthcare

🚀 Ready to crack the code on health system partnerships? Join our power-packed masterclass with two healthcare sales wizards who've been there, done that! 📅 Wednesday, November 13th @ 11 AM ET Meet your guides: Jacob Jesson, HTD Health Rick Bartels, DTxCC (Digital Therapeutics Commercialization Consultants, LLC) Key takeaways you'll gain: → Understanding health system priorities → Building compelling value propositions → Crafting the perfect pitch → Navigating procurement processes 🔗 Apply to attend: https://lnkd.in/ebAa35H5 Limited spots available for this can't-miss session for #healthtech founders and executives! #DigitalHealth #HealthTech #Innovation #HLTH #Healthcare

"So... what's your AI strategy?" (I bet you've heard this one before ) Let's get real about AI in healthcare. After 30+ years in tech and healthcare, and countless conversations with leaders across the industry, I've noticed something: we're all being asked about, and talking about our AI strategy, but few of us are talking about what we're actually going to DO with it. 🔍 The Investment Reality: $370B: Potential value AI could bring to healthcare $30B+: Invested in the last three years Reality check: Only a handful of companies are scaling successfully Thanks to Flare Capital Partners for sharing these market insights - their deep healthcare investment expertise helps put these trends in perspective. Here's what no one is talking about - where the money's REALLY going: 🚀 Startups: Leading the AI revolution in clinical solutions and financial efficiency Pushing boundaries in patient engagement Hard truth: Many are struggling with healthcare's complex scaling challenges 🏥 The Established Players: Health Plans: • Focusing on value-based care optimization • Streamlining administrative tasks • Goal: Better care management → lower premiums Healthcare Providers: • Prioritizing operational efficiency wins • Testing clinical decision support • Adoption has been slow, but growing optimism about reducing clinical workloads Large Healthcare Organizations: • Taking a cautious approach • Focusing on proven ROI: back-office automation and patient engagement MedTech & Pharma: • MedTech: Revolutionizing imaging & diagnostics • Pharma: Accelerating drug discovery & trials • Key difference: Pharma seeing faster ROI despite regulatory hurdles ⚖️ The Regulatory Landscape: Federal agencies are waking up to AI's potential, but here's the catch - regulations need to catch up and be aligned at across all governmental entities. This will be crucial for safe, effective implementation across healthcare. 🎯 What Keeps Me Up at Night: We have the potential to address some of healthcare's most intractable challenges, but only if we move beyond the starry-eyed hyperbole and focus on true outcomes-driven change. HTD Health is taking an opinionated stance: AI isn't just another tech trend – it's a tool for making healthcare work better for everyone. But it takes more than investment dollars and flashy demos. It takes experience, data, and a commitment to real-world results. This is the first in a series where I'll break down what's actually happening at the intersection of AI, interoperability, policy, and healthcare business. No fluff, just practical insights from someone who's been in the trenches across healthcare. I'd love to hear your thoughts: What's your organization actually DOING with AI, beyond the strategy decks? Drop a 👋 below if you'd like to discuss this offline and/or put me in my place.