Success factors for Health IT Businesses in 2013 – Small, Tenacious, High Performing, and Innovative
2013 promises to be a big year in the Health IT industry. The changes demanded by the HITECH and Affordable Care Act policies continue to convert the way we administer health care. Investment in technology and the adoption of new business practices continue to drive these changes.
Traditional approaches are being replaced with fresh thinking. Global brands in health-related products and services are now diversifying what they do and how they do it. In response, small businesses are emerging daily with fresh perspectives and new solutions to meet the needs of the Health IT world. The current environment is the perfect fit for the products and services that small businesses offer. Could 2013 be the “Tipping Point” for small businesses in the Health IT industry?  We sure think so.
Malcolm Gladwell, author of “The Tipping Point: How Little Things Make a Big Difference”, has a theory that could help explain why events seem to “boil over” at certain times. Gladwell describes three agents of change that can drive an organization to the tipping point: the law of the few, the stickiness factor, and the power of context. These models apply now as small businesses in Health IT deliver quality and service directly to their customers. The combination of current market need and the ability of small business to uniquely respond to that need, make this the right moment for small business to serve as a key player in the health IT market. Small businesses are uniquely positioned to successfully cater to the needs of the Health IT industry because they are small and tenacious, perform at a high level and are on the cutting edge of innovation.
Small and Tenacious: Interested in businesses focused on delivering the highest levels of customer service and satisfaction? The “law of the few” indicates that 80% of the work is done by 20% of the people. Small business is all about dedicating the right person with the right abilities to get things done. Look to a small business that is motivated by people – customers and employees. Quarterly sales results or daily stock market trends are not the leading business indicators of success for entrepreneurial business owners. Small business measures success by developing a loyal customer base and consistently delivering services and solutions.
High Performing: Talented, highly motivated young professionals are making a huge impact on the Health IT industry. The Health IT Community expects businesses to develop and apply Health IT subject matter expertise within the service or solution. A generic methodology or solution is not the way forward. Small business has the flexibility to allow truly talented individuals to directly connect their vision, expertise, and capabilities to the customer’s needs.
Innovative: Health IT customers are demanding. They require solutions that are, faster, mobile, certified, secure, more agile and collaborative. If technology cannot deliver on these requirements, than your business is failing to innovate. The “power of context” tells us that behavior is strongly influenced by environment; small business is taking its cue from the environment to perform with agility, flexibility, creativity. Investing in this sort of approach to building and deploying Health IT is fundamental.
The beginning of each New Year promises opportunities and challenges. We can predict with certainty that Health IT will continue to produce rapid changes at all levels in the coming year. 2013 is the year for small businesses to step up and reach that “tipping point”.