Quantifying the Impact and ROI of a Health IT Solution
Health Advances helped drive adoption of a software-based surveillance solution for hospital acquired infections by quantifying its clinical and economic value.
- Health Advances was approached by a client with a proprietary software solution designed to provide early detection of hospital-acquired infections.
- The company’s software system had been used successfully in institutions across the US but lacked documentation to prove its clinical and economic value.
- The company engaged Health Advances to provide a data-driven analysis of the clinical and economic impact of this solution that company sales reps could use to convert new customers more successfully
Critical Questions to Address
- What are the most important trends in managing and preventing hospital-acquired infections, avoiding antibiotic resistance, and using antibiotics?
- What are the clinical and economic costs of hospital-acquired infections? How do these costs vary by hospital size and type?
- How much clinical and economic value could be realized through improved detection and diagnosis of hospital-acquired infections?
- How does potential clinical and economic value vary from hospital to hospital?
- What data-driven value claims could our client take to potential customers in order to accelerate adoption of their solution?
Health Advances Approach
- Performed extensive research into current clinical practice related to prevention and management of hospital-acquired infections,
- Conducted extensive research into the clinical literature related to hospital-acquired infections in order to understand infection rates, rates of antibiotic resistance, costs for antibiotics, and the average reimbursement amounts for each type of infection
- Interviews key opinion leaders (KOLs) in infectious disease to understand their views on current and future clinical practice and to identify key unmet needs among hospitals attempting to solve this challenging problem
- Analyzed other relevant data on Medicare pricing, patient demographics, patient length-of-stay, common diagnoses, and the economics of existing antibiotic resistance programs
- Identified key value drivers of the client’s solution and quantified the economic potential of the solution’s impact on each driver
- Developed a dynamic, Excel-based model that can calculate the economic value and ROI of the client’s solution for any individual hospital based on size, current infection rates, and other basic characteristics
- Provided this model as a tool for the client’s sales force to use in discussions with potential new clients and trained sales reps on the use of this model