5 Best Practices: Secure Value from Digital Transformation Initiatives

The digital transformation wave is going to push your laboratory and profession to their limits if it hasn’t already. From the flood of leading-edge diagnostic specialties to the increasing volume of clinical data and the importance of multidisciplinary team collaboration, today’s healthcare agenda requires the right health information technology and data strategies that deliver timely diagnostic, clinical and financial insight and more than pays for itself.

Are your people, process, and technology ready?

Let us start by defining the term “digital transformation” that so many IT solution providers are kicking around. Wikipedia defines digital transformation as the change associated with the application of digital technology in all aspects of human society. The transformation stage means that digital usages inherently enable new types of innovation, interoperability and creativity in a particular domain, rather than simply enhance and support traditional methods.

According to a 2017 Digital Transformation Study by SAP and Oxford Economics who surveyed 400 healthcare executives, 70% said that the latest technologies are essential to growth, competitive advantage, and customer experience. Those same 400 executives reported only 2% of digital transformation initiatives were completed in all areas and the existing technology investments are only achieving 22% customer satisfaction. What is halting the value? Few healthcare organizations have achieved full digital maturity which limits their ability to realize the full value right now.

Healthcare Executive’s Participation in Digital Transformation Initiatives

If you are going to take on digital transformation initiatives, then focus on digital technology that will enable innovation and leap change in your laboratory rather than enhancing and supporting traditional methods through incremental changes?

As with any technology investment, if not approached from a best practice perspective, you may not get the value out of your investment. But what if there was a way to increase your chances of success? Well, there is.

XiFin is dedicated to optimizing healthcare economics. Based on extensive work and 20 years of expertise and leadership in the diagnostics market, XiFin has developed 5 best practices to help you navigate the digital transformation landscape and to help you obtain the most healthcare value from your laboratory IT investments.

Sure, expertise and technology fit is important, but your people, your processes, and your partners are the key to securing the ROI of your laboratory IT investment.

We invite you to follow this blog series as we spend some time detailing each of the 5 best practices of digital transformation for laboratories. Each best practice will help you get the best value from your healthcare IT dollars to achieve your diagnostic, clinical and financial objectives.

Don’t want to wait? Reach out to us for an in-depth and customized digital transformation assessment of your laboratory.