Let AbedGraham guide you.
Deploying a technology of any type in any healthcare market requires a robust plan to show the intended return on investment. Procurement divisions in healthcare organisations will be looking for solid evidence that what is being purchased can deliver the benefits that it says it will. Frequently, vendors fall down on proving the benefits of their solutions and end up missing out on or incurring delays with procurement opportunities. A proven benefits study is now also being requested as part of the Digital Technology Assessment Criteria (DTAC) in the NHS market.
For products where clinical trials are a part of the development process this may prove easier and more intuitive, but for the majority of health technology and cybersecurity vendors, this process may be a significant barrier to procurements and deployments. A rigorous benefits realisation process ensures a formal approach to capturing the value of a product, ensures it meets the expectations of all stakeholders in the value chain of the organisation you are selling to and allows for further case study and marketing content generation
The main challenge with structuring a benefits realisation study however is knowing where to start and how to run the most effective and efficient process to capture and prove the value. Poorly structured or managed benefits realisation studies will lead to valuable time taken from your operational teams and may not end up delivering the provable value that the product can actually bring. The three main hurdles in delivering high-quality benefits outputs are:
1. Understanding the value of the product
This may seem an odd point given a vendor has built and maintained the product, but in a healthcare context, knowing the finer points of how the product affects clinical and administrative workflows, what the interdependencies are, and what the true range of benefits that can be achieved within the policy and regulatory boundaries of a healthcare system are vital. A granular understanding of the environment the product is being deployed into is critical.
2. Mapping the stakeholders involved
To understand the full value of a product, you must understand the personnel, the clinical and administrative workflows they exist in, and how that affects the wider value chain in healthcare. Understanding the in-depth structure of primary, secondary and supporting community and mental health care organisations is required to ensure the full range of benefits are captured.
3. Structuring and proving the value
Identifying the benefits that can be associated with a product is only the first step in actually proving they can be delivered. A formal identification process has to take place at scale but then a program of work has to ensure that each benefit identified is managed, measured, audited and then finally delivered. This requires multi-disciplinary team expertise, an eye for analytical details and experience of delivering these projects in healthcare.
At the AbedGraham Group, we have run over 50 benefits realisation studies with a combined procurement value of over £100m, from large-scale Electronic Health Record (EHR) deployments to mobile app deployments across single hospital wards. Our consultancy team has clinicians who have worked across primary, secondary and community and mental health care so we understand the policy themes, the regulatory frameworks, the workflows and the key personnel to make benefits realisation studies work better than anyone else.
For any health technology or cybersecurity deployment, the value we provide is evidenced by our existing customer base and the structure we go through. For each prospective deployment we can:
Use our core COFR (Clinical, Organisational, Financial, Regulatory) benefits framework (aligned with the national Green Book initiative) which allows the capture of all known benefits for a particular deployment of your product. This framework has been used for dozens of projects including national and international-level deployments
Analyse the full value proposition in healthcare for your product
Map the full value chain for any prospective deploying healthcare organisation
Create, maintain and deliver benefits realisation studies in any part of healthcare to gather the true value of your product
Produce quick, detailed reports showing all the benefits of your product (cash-releasing, non-cash-releasing and qualitative) which can be leveraged into business case material or marketing content for subsequent customers