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Imprivata Award Write Up

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2018 North American Digital Health Cybersecurity Technology Leadership Award

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Imprivata Award Write Up

  1. 1. 2018 North American Digital Health Cybersecurity Technology Leadership Award 2018
  2. 2. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 2 “We Accelerate Growth” Contents Background and Company Performance ........................................................................3 Industry Challenges..............................................................................................3 Technology Leverage and Business Impact ..............................................................4 Conclusion...........................................................................................................7 Significance of Technology Leadership ..........................................................................8 Understanding Technology Leadership ..........................................................................8 Key Benchmarking Criteria ....................................................................................9 Best Practices Award Analysis......................................................................................9 Decision Support Scorecard ...................................................................................9 Technology Leverage ..........................................................................................10 Business Impact.................................................................................................10 Decision Support Matrix ......................................................................................11 Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices .................................................................................................................12 The Intersection between 360-Degree Research and Best Practices Awards.....................13 Research Methodology ........................................................................................13 About Frost & Sullivan ..............................................................................................13
  3. 3. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 3 “We Accelerate Growth” Background and Company Performance Industry Challenges Healthcare cybersecurity begins with a computing architecture that is designed to prevent malicious intrusions and which is built around the objective of protecting sensitive patient health information (PHI) from unintended disclosure. However, Frost & Sullivan points out that the best technology in the world simply cannot prevent breaches without effective security at the edge of the network; the point of interface with human users. As such, access control is a high priority in healthcare, and each critical application or system is protected through authentication and sign-on protocols. Yet modern healthcare is characterized by many applications - each of which is quite important to the effective delivery of care. In the clinical workflow, a clinician might expect to interface with multiple electronic health record (EHR) applications, as well as computerized physician order entry (CPOE) systems. They need timely access based on their job role. The overhead associated with signing on to each of these systems — sometimes multiple times for the same patient — can pose a significant loading on the clinical workflow, where the total time lost just accessing applications can literally add work days-worth of unproductive time on an annual basis. In addition, simply stopping the clinical workflow to authenticate leads (what is called task switching) creates inefficiencies when a physician must stop what he or she is doing to access a system. This degrades cognitive function as a physician’s attention is taken away from the patient in order to remember passwords, and other forms of access control protocols. Ultimately, this can lead to degraded patient care and physician burnout. When clinicians move to another role or leave the organization, it is critical to ensure their access from all the systems is removed in timely manner to prevent any leftover orphaned accounts. Further. the recent data breaches have also increased the need for efficient and regular access certification process to proactively manage the risk of access privileges build-up. Frost & Sullivan believes that what is required is an integrated healthcare specific approach to identity and access governance, where access is defined by the work flow, not the application; one where a single sign on can grant access to all of the applications the clinician requires and which enables job-based and location-based access definition and control. Frost & Sullivan independent research reveals that there are few cybersecurity providers that can provide such clinical workflow specific access governance. One company that does so and which has developed an integrative approach is Imprivata, whose governance portfolio pushes the envelope in terms of access technology for healthcare.
  4. 4. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 4 “We Accelerate Growth” Technology Leverage and Business Impact Frost & Sullivan recognizes how Imprivata is unique in its approach to securing the clinical workflow. Rather than focusing on each discrete application, the company instead has developed an approach to secure the workflow itself. In a sense, it has built security around the clinical workflow as though the workflow is an application. This approach makes it possible to greatly reduce the overheads associated with authentication, which can be as high as over 4000 logins per physician per year. The Imprivata approach can reduce that number to 240. Imprivata performs this with a tightly integrated portfolio consisting of:  Enterprise Single Sign-on: enabling users to quickly and securely authenticate into all their clinical systems and applications without needing a username or password.  Multifactor Authentication: leveraging multiple authentication modalities to drive better security and streamline clinical workflows.  Confirm ID for EPCS: increases productivity by providing a comprehensive platform for provider identity proofing, supervised enrollment of credentials, two-factor authentication, and auditing and reporting to help healthcare organizations meet the DEA requirements for electronic prescriptions for controlled substances.  Imprivata Medical Device Access: Secure and seamless authentication into the increasingly interconnected ecosystem of medical devices.  Remote access: strengthening security by enabling end-users to securely access clinical systems from outside the hospital.  Imprivata Identity Governance: enabling role-based identity and access management with governance and compliance dashboard to mitigate risks.  Positive Patient Identification: enabling biometric patient identification and patient experience tracking.  Secure Healthcare Communications: enabling secure messaging between healthcare providers, resulting in more effective care coordination. This portfolio, which has been purpose-built for the healthcare market, is a foundational element that healthcare providers must adopt to facilitate significant new cost containment technologies that other market verticals are already adopting — technologies such as IoT, cloud and predictive analytics.
  5. 5. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 5 “We Accelerate Growth” Commitment to Innovation Frost & Sullivan believes Imprivata has correctly identified that the process of digital transformation in healthcare should begin with the users of the new digital systems and applications. The primary attribute of a user interface, of course, is security without which no interaction can be trusted. In fact, Imprivata is truly unique in noting that without the foundation of security, many of the real cost-reducing technologies of this fourth computer revolution — internet of medical things, cloud computing, big data and predictive analytics — simply won’t work, or at the very least will work poorly. Imprivata Identity Governance, in particular, provides a unique way of looking at security across the clinical workflow; rather than treating each application and device in isolation, Imprivata treats the entire workflow as a securable device. This enables a new approach to security, where the user interface is with the job, not the system. Single sign-on and location-based security become possible and radically reduce the overhead on clinical personnel for authentication activities. As noted above, such technology can reduce the number of annual logins for a reasonably occupied physician from over 4,000 to just over 200: a more than 2,000% improvement. Commitment to Creativity Physician burn out is looming as a major concern in healthcare. A stressed clinician is a less effective clinician. For many physicians, burn out can become so extreme that they either opt out of healthcare altogether or migrate to less demanding positions. This dynamic is especially felt in rural hospitals, where keeping and maintaining an effective clinical staff can be insurmountable. Even for those physicians who remain, the impact of burnout can lead to bad treatment decisions; which, of course, is patient impacting. One contributor to burnout is the need to switch tasks frequently, and one task switching driver is the need to stop the treatment process to authenticate to a healthcare application or device. Studies have shown that such task switching can lead to degraded performance for as much as 15 minutes each time. Over the course of a clinical work year, this can consume as much as 35 work days of inefficiency. Imprivata demonstrated that improving the efficiency of authentication workflows can reduce physician burnout and also reduce costs. This unique perspective provides healthcare IT decision makers with the ammunition they need to convince decision makers to focus on security as a way to contain rising healthcare delivery costs, while addressing a need to secure sensitive patient health information (PHI). This creative new way to look at security also yields clear benefits downstream, as security enables the implementation of other cost reduction technologies.
  6. 6. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 6 “We Accelerate Growth” Technology Incubation Cybersecurity is quite complex, even when all of the IT technology is under the direct control of the IT or security organization. Include mobile devices, the internet of things, and cloud technologies; now IT has direct control over very little of the technology, yet must still secure it all. What is required is a security approach that can integrate these new technologies as they are introduced, and provide secure, role-based access into them for end-users without inhibiting their user experience. Imprivata has built a governance platform that can easily accommodate new technologies as they are introduced and is actively working with healthcare partners to plan for new technology rollouts as they occur. Frost & Sullivan observes how this enables Imprivata to stay ahead of the technology curve, while insulating the clinical users from the complexities of newer technology. Financial Performance As noted above, Imprivata has properly connected the dots between security and cost containment for healthcare IT. For many industry verticals, security is simply an overhead; an insurance policy, if you will. One pays for security because one has to, not because there is an immediate return for doing so. Imprivata, however, understands that cybersecurity can be cost reducing immediately through process efficiencies, but can also enable new cost containment technologies downstream. While Imprivata has not estimated the magnitude of cost savings, if each authentication sign-on takes approximately two minutes, then a typical physician can consume up to 133 hours per year just signing on to systems. While the labor rate for physicians varies, Forbes estimates a general practitioner’s average salary is $189,000 a year. This translates into nearly $13,000 per physician per year on authentication alone. Clearly a solution that reduces this overhead can dramatically impact the financial position of an average hospital. Operational Efficiency The clinical workflow is complex and involves interacting with many different systems and devices, all of which must be secured. Anything that can improve the flow of patients and trained clinical personnel through this process leads to improvements in operational efficiency. Using conventional security approach, system authentication was a significant impediment to a smooth work flow - clinicians routinely had to stop and re-authenticate with each change of patient or work location. As noted previously, this clearly leads to task switching inefficiencies and time away from patient treatment. Using the Imprivata integrated approach to cybersecurity leads to process efficiencies; personnel only need to authenticate once, and thereafter, the access governance platform manages access to critical applications and systems. Frost & Sullivan appreciates how this
  7. 7. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 7 “We Accelerate Growth” can have profound impacts on the cost of security, generally, and physician utilization, specifically. Growth Potential Frost & Sullivan estimates in its recent Cybersecurity in Healthcare report that the access control market for healthcare cybersecurity will increase to nearly a half a billion dollars by 2023 in the US market alone. This is over a 12% CAGR when compared to 2018. Yet, this is only part of the security equation for healthcare. When other factors, such as endpoint protection and network protection, are taken into account, the market potential is well over four billion dollars in the US by 2023. Frost & Sullivan analysis concludes that Imprivata, by focusing on securing the clinical workflow, is well-positioned to take advantage of this substantial growth dynamic. Conclusion Frost & Sullivan believes that Imprivata’s unique approach to securing healthcare system and application access at a process level is exactly what healthcare IT needs to transcend the restrictions and complexity of cybersecurity. The company’s access governance platform and other security tools convert an overhead into a potential cost saver, as well as an enabler of cost reduction technology that is currently being developed and which will be deployed in the near future. With its strong overall performance, Imprivata has earned the 2018 Frost & Sullivan Technology Leadership Award.
  8. 8. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 8 “We Accelerate Growth” Significance of Technology Leadership Technology-rich companies with strong commercialization strategies benefit from the increased demand for high-quality, technologically-innovative products. Those products help shape the brand, leading to a strong, differentiated market position. Understanding Technology Leadership Technology Leadership recognizes companies that lead the development and successful introduction of high-tech solutions to customers’ most pressing needs, altering the industry or business landscape in the process. These companies shape the future of technology and its uses. Ultimately, success is measured by the degree to which a technology is leveraged and the impact that technology has on growing the business.
  9. 9. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 9 “We Accelerate Growth” Key Benchmarking Criteria For the Technology Leadership Award, Frost & Sullivan analysts independently evaluated two key factors—Technology Leverage and Business Impact—according to the criteria identified below. Technology Leverage Criterion 1: Commitment to Innovation Criterion 2: Commitment to Creativity Criterion 3: Technology Incubation Criterion 4: Commercialization Success Criterion 5: Application Diversity Business Impact Criterion 1: Financial Performance Criterion 2: Customer Acquisition Criterion 3: Operational Efficiency Criterion 4: Growth Potential Criterion 5: Human Capital Best Practices Award Analysis for Imprivata Decision Support Scorecard To support its evaluation of best practices across multiple business performance categories, Frost & Sullivan employs a customized Decision Support Scorecard. This tool allows our research and consulting teams to objectively analyze performance, according to the key benchmarking criteria listed in the previous section, and to assign ratings on that basis. The tool follows a 10-point scale that allows for nuances in performance evaluation. Ratings guidelines are illustrated below. RATINGS GUIDELINES The Decision Support Scorecard is organized by Technology Leverage and Business Impact (i.e., These are the overarching categories for all 10 benchmarking criteria; the definitions for each criterion are provided beneath the scorecard.). The research team confirms the veracity of this weighted scorecard through sensitivity analysis, which confirms that small changes to the ratings for a specific criterion do not lead to a significant change in the overall relative rankings of the companies.
  10. 10. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 10 “We Accelerate Growth” The results of this analysis are shown below. To remain unbiased and to protect the interests of all organizations reviewed, we have chosen to refer to the other key participants as Competitor 2 and Competitor 3. Measurement of 1–10 (1 = poor; 10 = excellent) Technology Leadership Technology Leverage Business Impact Average Rating Imprivata 10.0 10.0 10.0 Competitor 2 9.5 8.5 9.0 Competitor 3 8.0 8.0 8.0 Technology Leverage Criterion 1: Commitment to Innovation Requirement: Conscious, ongoing development of an organization’s culture that supports the pursuit of groundbreaking ideas through the leverage of technology Criterion 2: Commitment to Creativity Requirement: Employees rewarded for pushing the limits of form and function, by integrating the latest technologies to enhance products Criterion 3: Technology Incubation Requirement: A structured process with adequate investment to incubate new technologies developed internally or through strategic partnerships Criterion 4: Commercialization Success Requirement: A proven track record of successfully commercializing new technologies, by enabling new products and/or through licensing strategies Criterion 5: Application Diversity Requirement: The development of technologies that serve multiple products, multiple applications, and multiple user environments Business Impact Criterion 1: Financial Performance Requirement: Overall financial performance is strong in terms of revenues, revenue growth, operating margin, and other key financial metrics. Criterion 2: Customer Acquisition Requirement: Overall technology strength enables acquisition of new customers, even as it enhances retention of current customers. Criterion 3: Operational Efficiency Requirement: Staff is able to perform assigned tasks productively, quickly, and to a high- quality standard.
  11. 11. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 11 “We Accelerate Growth” Criterion 4: Growth Potential Requirements: Technology focus strengthens brand, reinforces customer loyalty, and enhances growth potential. Criterion 5: Human Capital Requirement: Company culture is characterized by a strong commitment to customer impact through technology leverage, which in turn enhances employee morale and retention, Decision Support Matrix Once all companies have been evaluated according to the Decision Support Scorecard, analysts then position the candidates on the matrix shown below, enabling them to visualize which companies are truly breakthrough and which ones are not yet operating at best-in-class levels. High Low Low High BusinessImpact Technology Leverage Imprivata Competitor 2 Competitor 3
  12. 12. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 12 “We Accelerate Growth” Best Practices Recognition: 10 Steps to Researching, Identifying, and Recognizing Best Practices Frost & Sullivan Awards follow a 10-step process to evaluate Award candidates and assess their fit with select best practice criteria. The reputation and integrity of the Awards are based on close adherence to this process. STEP OBJECTIVE KEY ACTIVITIES OUTPUT 1 Monitor, target, and screen Identify Award recipient candidates from around the globe  Conduct in-depth industry research  Identify emerging sectors  Scan multiple geographies Pipeline of candidates who potentially meet all best- practice criteria 2 Perform 360-degree research Perform comprehensive, 360-degree research on all candidates in the pipeline  Interview thought leaders and industry practitioners  Assess candidates’ fit with best-practice criteria  Rank all candidates Matrix positioning of all candidates’ performance relative to one another 3 Invite thought leadership in best practices Perform in-depth examination of all candidates  Confirm best-practice criteria  Examine eligibility of all candidates  Identify any information gaps Detailed profiles of all ranked candidates 4 Initiate research director review Conduct an unbiased evaluation of all candidate profiles  Brainstorm ranking options  Invite multiple perspectives on candidates’ performance  Update candidate profiles Final prioritization of all eligible candidates and companion best-practice positioning paper 5 Assemble panel of industry experts Present findings to an expert panel of industry thought leaders  Share findings  Strengthen cases for candidate eligibility  Prioritize candidates Refined list of prioritized Award candidates 6 Conduct global industry review Build consensus on Award candidates’ eligibility  Hold global team meeting to review all candidates  Pressure-test fit with criteria  Confirm inclusion of all eligible candidates Final list of eligible Award candidates, representing success stories worldwide 7 Perform quality check Develop official Award consideration materials  Perform final performance benchmarking activities  Write nominations  Perform quality review High-quality, accurate, and creative presentation of nominees’ successes 8 Reconnect with panel of industry experts Finalize the selection of the best-practice Award recipient  Review analysis with panel  Build consensus  Select recipient Decision on which company performs best against all best-practice criteria 9 Communicate recognition Inform Award recipient of Award recognition  Present Award to the CEO  Inspire the organization for continued success  Celebrate the recipient’s performance Announcement of Award and plan for how recipient can use the Award to enhance the brand 10 Take strategic action Upon licensing, company is able to share Award news with stakeholders and customers  Coordinate media outreach  Design a marketing plan  Assess Award’s role in future strategic planning Widespread awareness of recipient’s Award status among investors, media personnel, and employees
  13. 13. BEST PRACTICES RESEARCH © Frost & Sullivan 2018 13 “We Accelerate Growth” The Intersection between 360-Degree Research and Best Practices Awards Research Methodology Frost & Sullivan’s 360-degree research methodology represents the analytical rigor of our research process. It offers a 360-degree-view of industry challenges, trends, and issues by integrating all 7 of Frost & Sullivan's research methodologies. Too often companies make important growth decisions based on a narrow understanding of their environment, leading to errors of both omission and commission. Successful growth strategies are founded on a thorough understanding of market, technical, economic, financial, customer, best practices, and demographic analyses. The integration of these research disciplines into the 360-degree research methodology provides an evaluation platform for benchmarking industry players and for identifying those performing at best-in-class levels. About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best-in-class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages more than 50 years of experience in partnering with Global 1000 companies, emerging businesses, and the investment community from 45 offices on six continents. To join our Growth Partnership, please visit http://www.frost.com. 360-DEGREE RESEARCH: SEEING ORDER IN THE CHAOS

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