Health Guide Book: Proving and Selling Your Value Story - Three Short Examples


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Presented by Doug Thompson
Black Box LLC
New Zealand Trade & Enterprise

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Health Guide Book: Proving and Selling Your Value Story - Three Short Examples

  1. 1. Ivan Thompson & Co. Product Value Analysis for Smartlink 2000© Health Guide Book Proving and Selling Your Value Story Three Short Examples LC Box, L Black
  2. 2. Key Concepts Business Strategy A Buyer’s Business Strategy is supported by Key Success Factors each associated with Value Activities which are affected by Products the Buyer uses KSF VA KSF VA KSF VA Product X VA
  3. 3. What A Vendor Must Understand Target buyer’s strategic objectives How the objectives are achieved How the product helps achieve the objectives
  4. 4. The Case Logic Model Understand the Buyer’s Problem – specify the problem that needs to be solved from the buyer’s perspective Choose a Direction – make the case for the selection of a high level intervention strategy Expect a Result – outline the benefit streams that could be typically expected by choosing that direction Adopt a Solution – propose a technical solution to the problem that will achieve the expected result. Demonstrate Success – summarise the likely results of the application of the solution to the defined problem.
  5. 5. Finding Data Can Be Challenging • The most challenging part of the Case Logic Model is the Demonstrate Success step: obtaining data to quantify the product’s impact; sources include: – – – – – Primary data the vendor collects from customer sites Credible third-party studies of customer sites Customer-led studies Internal (vendor) data from tests and experiments, extrapolated Published studies of similar products, extrapolated
  6. 6. Working With Customers • Examples of working with customers to obtain data – Alaris’ Medley© IV pumps – McKesson’s Fulfill-Rx© software – QuadraMed’s SmartLink 2000© system Ivan Thompson & Co. Product Value Analysis for Smartlink 2000©
  7. 7. Product: Medley with Guardrails©, a smart infusion pump product sold by Alaris, Inc. Target Buyer: Acute care hospitals Data Source: Alaris collected data from each customer via regular downloads showing every case where their product alerted a nurse about a drug they were administering, and whether the dose was changed Product Value Data: Alaris Smart Pumps Impact of Smart Pump Alerts on IV Programming and ADE Incidence 6% Other 39% No ADE 33% Dose Below Minimum 61% Dose Above Maximum Distribution of 23,405 Dosing Alerts 43% Minimal ADE Risk 84% Proceeded Anyway 13% Programming Change 3% Dose Cancelled Resolution of 14,167 Dosing Above Maximum Alerts 57% Severe & Moderate ADE Risk Risk ofADEsw/o Programming Changes 61% Adverse Drug Events EstimatedADEsPrevented by Programming Changes 1.9 ADEs per 1,000 Patient Days
  8. 8. Product: Fulfill-Rx©, a software product sold by McKesson, Inc. Target Buyer: Hospital pharmacies Data Source: We visited a customer hospital to interview staff and collect primary data; we also left data collection worksheets for the customer to complete over the following months. Drug Ordering Process Before and After Fullfull-Rx ©
  9. 9. Product: HealthFlow©, a healthcare workflow engine sold by Araxsys, Inc. Target Buyer: Home care providers Data Source: We made direct observations and analyzed data from Araxsys’ beta site, MatureWell, to document current value activities and identify how HealthFlow had improved these activities. Screening and Home Assessment Sub-Processes: SmartLink Impacts
  10. 10. Tomorrow’s Topics • • • • • Finding existing data on product benefits Convincing buyers to help collect product benefits data Designing and carrying out on-site data collection Understanding the buyers’ perspective Using benefits data creatively