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5 Lessons For Healthcare Providers From Banks
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anon4965821717
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anon4965821717,
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3/10/2014 | 4:04:49 PM
Highly regulated banking industry?
The first line mentions the "highly regulated banking industry". I would propose that was a true statement many decades ago. But we have been slowly but surely chipping away at those regulations since the 80's, which of course eventually led to the financial crisis of 2007 - 2008.
ZibdyHealth01
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ZibdyHealth01,
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3/11/2014 | 2:43:52 AM
So True
Last 3 lessons are so important but there is hardly a heatlcare company which thinks like this..Most are usually excatly opposite.
David F. Carr
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David F. Carr,
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3/11/2014 | 9:51:26 AM
What did the banks get wrong?
There must be some counter-examples of ways banks have applied technology in recent decades that we'd hate to see healthcare emulate. Hidden fees? Arguably, healthcare already has that down.
RobPreston
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RobPreston,
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3/11/2014 | 10:10:50 AM
Re: Highly regulated banking industry?
You must have missed the new layer of Dodd-Frank regulations. Banking remains one of the most heavily regulated industries in the country.
Laurianne
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Laurianne,
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3/11/2014 | 11:19:16 AM
Re: What did the banks get wrong?
You can walk into a bank branch with a statement and ask a manager a question. Try to do that with a health insurer.
rsaidman
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rsaidman,
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3/11/2014 | 12:27:33 PM
Re: So True
I don't disagree with you in terms of where many healthcare companies are today but where we hope (and think they are beginning to go) is in the right direction. We believe that companies that design products and services with consumers in mind will be the most successful.
rsaidman
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rsaidman,
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3/11/2014 | 12:35:09 PM
Re: What did the banks get wrong?
Replacing human servicing with technology without thinking through the impact on the overall customer experience is something we would not like to see healthcare companies emulate. There are places and times when it makes sense but it must be beneficial for both the customer and the business entity.
rsaidman
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rsaidman,
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3/11/2014 | 12:42:45 PM
What is the toughest hurdle to innovation for healthcare companies?
Scope and scale of IT iniatives/financial? Bureaucracy? Human capital resources? Governmental regulation?
fpoggio600
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fpoggio600,
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3/12/2014 | 5:40:10 PM
Re: Banking and Healthcare IT
Yes healthcare can learn a few things from banks, but if you equate banking to the delivery of health care you have a pretty simple view of the world. When I deal with a bank my goal is pretty clear, make a depost, withdraw money, get a loan, pay a bill, etc.

 

When you go to a doctor or hospital you are probably sick and have no idea why. That would be like going to a bank and saying I think I need some money but I really do not know why or how much. Fifty percent of the effort in healthcare is identifying the problem (diagnosis) and once we have identified the problem the other half is fixing it (if possible). Can you tell me where in banking that scenario exists? Equating healthcare IT to banking is about as far out in left field as you could get. Next time you have a severe headache call your banker and see how much his IT system can help.
ANON1245959207624
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ANON1245959207624,
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3/12/2014 | 6:37:17 PM
HCI credibility
Quite a few people are missing the point of this article.  Health care informatics (HCI) has been plagued with over-promising things that are beyond achievement in reasonable time.  The point, as I see it, is to work on stepwise improvement on goals that are highly probable to be achievable within 5 years. 

Over-promising and uncritical acceptance of vendor promises has compromised the credibility of countless HCI projects.

Having worked at a hospital where several major multi-million dollar "initiatives" have been started, millions of dollars spent, high-paid employee time wasted and the projects abandoned I can say that one common cause of failure is the inability of the project leaders to articulate the SINGLE MOST IMPORTANT GOAL of the project.  The vague notion that "something wonderful will happen" (according to what the vendors have told us) is insufficient to ensure success.

 

 

 

 
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