2012 brazilian healthcare it company of the year award

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Based on the findings of this Best Practices research, Frost & Sullivan is proud to present the 2012 Brazilian Healthcare IT Company of the Year Award.

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2012 brazilian healthcare it company of the year award

  1. 1. 2011 South African Data Centre Green Excellence Award in Technology Innovation Cybernest 2012 2012 Brazilian Healthcare IT Company of the Year Award© 2011 Frost & Sullivan 1 “We Accelerate Growth”
  2. 2. BEST PRACTICES RESEARCHCompany of the Year AwardHealthcare ITBrazil, 2012Frost & Sullivan’s Global Research PlatformFrost & Sullivan is in its 50th year in business with a global research organization of 1,800analysts and consultants who monitor more than 300 industries and 250,000 companies.The company’s research philosophy originates with the CEO’s 360-Degree Perspective™,which serves as the foundation of its TEAM Research™ methodology. This unique approachenables us to determine how best-in-class companies worldwide manage growth,innovation and leadership. Based on the findings of this Best Practices research, Frost &Sullivan is proud to present the 2012 Brazilian Company of the Year Award in HealthcareIT to InterSystems Corporation (InterSystems).Significance of the Company of the Year AwardKey Industry Challenges Addressed by Effective StrategiesThe healthcare sector has seen a growing movement, the adoption of the electronic healthrecords (EHR)-based software solution. The idea is to develop a single and integratedrecord of patients among different healthcare institutions, with data being accessedinstantly from anywhere and, if required, emergency medical attention being provided.Projects of this type are being developed worldwide, motivated mainly by a vision ofbetter patient control, which can facilitate not only expense reduction, but also a safer andquicker service for patients.The use of an EHR solution meets several challenges in countries where there are differentdecision makers for its implementation, such as Brazil. Brazilian public healthcare© 2012 Frost & Sullivan 1 “We Accelerate Growth”
  3. 3. BEST PRACTICES RESEARCHinstitutions are divided into federal, state, and municipal councils. This dynamics canmake EHR adoption more difficult, since all three public instances might accept thisadoption for better integration. Moreover, the local market suffers from the lack of anadequate structure to best assume information technologies solutions usage. Theinstability of the system can simply deny the IT appliance in some sensible sectors, suchas healthcare.Healthcare IT solutions providers might invest in adapting themselves to this paradigm inorder to best correspond to the specific market needs.Impact of Company of the Year Aw ard on Key StakeholdersThe Company of the Year Award is a prestigious recognition of Intersytems’accomplishments in healthcare IT. An unbiased, third-party recognition can provide aprofound impact in enhancing the brand value and accelerating InterSystems’ growth. Ascaptured in Chart 1 below, by researching, ranking, and recognizing those who deliverexcellence and best practices in their respective endeavors, Frost & Sullivan hopes toinspire, influence, and impact three specific constituencies: • Investors Investors and shareholders always welcome unbiased and impartial third-party recognition. Similarly, prospective investors and shareholders are drawn to companies with a well-established reputation for excellence. Unbiased validation is the best and most credible way to showcase an organization worthy of investment. • Customers Third-party industry recognition has been proven to be the most effective way to assure customers that they are partnering with an organization that is leading in its field. • Employees This Award represents the creativity and dedication of InterSystems’ executive team and employees. Such public recognition can boost morale and inspire your team to continue its best-in-class pursuit of a strong competitive position for InterSystems.© 2012 Frost & Sullivan 2 “We Accelerate Growth”
  4. 4. BEST PRACTICES RESEARCH C ha r t 1 : B es t P ra c t i c es L ev e ra g e f o r Gr ow t h Ac c e l era t i onKey Benchmarking Criteria f or Company of the Year Aw ardFor the Company of the Year Award, the following criteria were used to benchmarkInterSystems’ performance against key competitors: • Growth Strategy Excellence • Growth Implementation Excellence • Degree of Innovation with Products and Technologies • Leadership in Customer Value • Leadership in Market PenetrationDecision Support Matrix and Measurement CriteriaTo support its evaluation of best practices across multiple business performance categories,Frost & Sullivan employs a customized Decision Support Matrix (DSM). The DSM is ananalytical tool that compares companies’ performance relative to each other with anintegration of quantitative and qualitative metrics. The DSM features criteria unique to eachAward category and ranks importance by assigning weights to each criterion. The relativeweighting reflects current market conditions and illustrates the associated importance ofeach criterion according to Frost & Sullivan. Fundamentally, each DSM is distinct for eachmarket and Award category. The DSM allows our research and consulting teams toobjectively analyze each companys performance on each criterion relative to its topcompetitors and assign performance ratings on that basis. The DSM follows a 10-point scalethat allows for nuances in performance evaluation; ratings guidelines are shown in Chart 2.© 2012 Frost & Sullivan 3 “We Accelerate Growth”
  5. 5. BEST PRACTICES RESEARCH C ha r t 2 : P erf o rm a n c e- Ba s e d Ra t i ng s f o r De c is i on S u pp o r t Ma tr i xThis exercise encompasses all criteria, leading to a weighted average ranking of eachcompany. Researchers can then easily identify the company with the highest ranking. As afinal step, the research team confirms the veracity of the model by ensuring that smallchanges to the ratings for a specific criterion do not lead to a significant change in theoverall relative rankings of the companies. C ha r t 3 : Fr os t & S ul l iva n’s 10-S t e p P r oc es s f or I de n t if y in g Aw a rd R ec ip i en tsBest Practice Award Analysis for InterSystemsThe Decision Support Matrix, shown in Chart 4, illustrates the relative importance of eachcriterion for the Company of the Year Award and the ratings for each company underevaluation. To remain unbiased while also protecting the interests of the otherorganizations reviewed, we have chosen to refer to the other key players as Competitor 1and Competitor 2.© 2012 Frost & Sullivan 4 “We Accelerate Growth”
  6. 6. BEST PRACTICES RESEARCH C ha r t 4 : D ec is io n S u p po r t M a t ri x f or C o mp a n y of t he Y ea r Aw a r d Measurement of 1–10 (1 = lowest; 10 = highest) Award Criteria Growth Strategy Excellence Products and Technologies Degree of Innovation with Growth Implementation Leadership in Customer Leadership in Market Weighted Rating Penetration Excellence Value Relative Weight (%) 20% 20% 20% 20% 20% 100% InterSystems 8.5 9 9.3 8.7 10 9.1 Competitor 1 7.2 8 7.2 8.3 9.2 7.98 Competitor 2 7.2 7.6 7.1 8 8 7.58Criterion 1: Growth Strategy ExcellenceInterSystems is a global leader in software for connected care, with headquarters inCambridge, Massachusetts, and offices in 25 countries. In Brazil, the corporation has been apioneer in implementing electronic health record systems through its TrakCare™ software.Although it is a foreign company, InterSystems has successfully suited its growth strategyto best understand Brazilian market needs, developing not only a tailor-made solution fordifferent client typology, but also being extremely committed to understanding and offeringsolutions for local healthcare institutions’ main requirements.Criterion 2: Growth Implementation ExcellenceInterSystems brilliantly implemented an EHR system in Brazil for both public and privateinstitution chains. This stands out due to its flexible capacity of dealing with totally differenttypes of customers. For private healthcare institution chains, the company has provided EHRsolutions for renowned hospitals and large diagnostic centers, such as Albert EinsteinHospital. However, one of the most impressive actions was to develop an EHR systemamong healthcare public institutions for the government of the federal district (GDF) ofBrasilia, enabling more than two million patients in 17 hospitals with 4,400 beds, plus 61health centers, polyclinics, diagnostic laboratories, and pharmacies, to obtain electronichealth records shared among themselves. The solution application has allowed not just forbetter health management, but also for taking advantage of the integrated informationthrough an analytical process, such as the promotion of preventive actions within thepopulation.© 2012 Frost & Sullivan 5 “We Accelerate Growth”
  7. 7. BEST PRACTICES RESEARCHGDF of Brasilia recognized that moving from its paper-based system and automatingmanual processes could yield huge improvements in terms of quality of care and deliversignificant cost reductions. InterSystems’ growth implementation process happened throughsuccessful cases, evidenced by cost reduction and better information flux.Criterion 3: Degree of Innovation with Products and TechnologiesInterSystems TrakCare™ is an Internet-based unified healthcare information system thatrapidly delivers the benefits of an electronic patient record system. Its functionalities weredeveloped according to end users’ demands—health professionals who are already users ofthe tool and have worked together with the corporation—providing information regardingthe solution’s main challenges and needs, especially for systems’ security and clinicalproductivity improvement. Based on these customers’ necessities, InterSystems isfrequently adding new tools into the TrakCare software, such as the powerful “closed loop”medication management within a unified healthcare information system—improving patientsafety and clinician productivity—new clinical summaries, alerts, "break the glass"capabilities, and care planning work lists, combined with ease-of-use enhancements,providing a system that clinicians want to use, and also a patented technology for unlockingimportant information often hidden away in clinical notes.Criterion 4: Leadership in Customer ValueBefore launching a new solution or improvements to its already-leading solutions,InterSystems goes to its clients and learns how its solutions can add more value to them.This survey of clients clearly proves that InterSystems places a high emphasis on theservice it provides to its customers, which directly impacts the level of customersatisfaction. In addition, InterSystems’ strategy to maintain branch offices next to its maincustomers illustrates its “partnership”-oriented thinking process of not only offering quickand efficient service support, but also continuing work after solution implementation inorder to offer a non-stop updated system, as well as being always keen to assist clientsregarding necessities thereafter.Criterion 5: Leadership in Market PenetrationThe most significant barrier to international healthcare IT corporations entering into theBrazilian market is its solution “tropicalization” (meaning to adapt a solution used in adeveloped country to a different reality). InterSystems has quickly surpassed this marketrestraint, adapting its overseas EHR solution to the local market without losing its mainfunctionalities and tools.InterSystemsis still the only company that could totally adapt and insert EHR solutions tothe Brazilian reality.© 2012 Frost & Sullivan 6 “We Accelerate Growth”
  8. 8. BEST PRACTICES RESEARCHConclusionInterSystems has pioneered and successfully introduced an electronic health recordssolution into the Brazilian market. The company’s capacity to surpass several local HC ITimplementation challenges makes its accomplishment an outstanding one in terms ofunderstanding the main market needs and offering a tailor-made approach. The importanceof its solution for the local healthcare sector’s development will assure InterSystems areference and benchmark position among healthcare IT market participants in Brazil.The CEO 360-Degree Perspective T M - Visionary Platform for GrowthStrategiesThe CEO 360-Degree Perspective™ model provides a clear illustration of the complexbusiness universe in which CEOs and their management teams live today. It representsthe foundation of Frost & Sullivans global research organization and provides the basis onwhich companies can gain a visionary and strategic understanding of the market. The CEO360-Degree Perspective™ is also a “must-have” requirement for the identification andanalysis of best-practice performance by industry leaders.The CEO 360-Degree Perspective™ model enables our clients to gain a comprehensive,action-oriented understanding of market evolution and its implications for their companies’growth strategies. As illustrated in Chart 5 below, the following six-step process outlineshow our researchers and consultants embed the CEO 360-Degree Perspective™ into theiranalyses and recommendations.© 2012 Frost & Sullivan 7 “We Accelerate Growth”
  9. 9. BEST PRACTICES RESEARCH C ha r t 5 : T h e C EO s 3 60- De g re e P er s p ec t i ve ™ Mo d el© 2012 Frost & Sullivan 8 “We Accelerate Growth”
  10. 10. BEST PRACTICES RESEARCHCritical Importance of TEAM ResearchFrost & Sullivan’s TEAM Research methodology represents the analytical rigor of ourresearch process. It offers a 360-degree view of industry challenges, trends, and issues byintegrating all seven of Frost & Sullivans research methodologies. Our experience hasshown over the years that companies too often make important growth decisions based ona narrow understanding of their environment, leading to errors of both omission andcommission. Frost & Sullivan contends that successful growth strategies are founded on athorough understanding of market, technical, economic, financial, customer, bestpractices, and demographic analyses. In that vein, the letters T, E, A and M reflect ourcore technical, economic, applied (financial and best practices) and market analyses. Theintegration of these research disciplines into the TEAM Research methodology provides anevaluation platform for benchmarking industry players and for creating high-potentialgrowth strategies for our clients. C ha r t 6 : B e nc h ma r ki ng P e rf or ma nc e w i t h TE A M R es ea rc hAbout Frost & SullivanFrost & Sullivan, the Growth Partnership Company, enables clients to accelerate growthand achieve best-in-class positions in growth, innovation and leadership. The companysGrowth Partnership Service provides the CEO and the CEOs Growth Team with disciplinedresearch and best-practice models to drive the generation, evaluation and implementationof powerful growth strategies. Frost & Sullivan leverages 50 years of experience inpartnering with Global 1000 companies, emerging businesses and the investmentcommunity from more than 40 offices on six continents. To join our Growth Partnership,please visit http://www.frost.com.© 2012 Frost & Sullivan 9 “We Accelerate Growth”

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