+ All Categories
Home > Business > 2012 brazilian healthcare it company of the year award

2012 brazilian healthcare it company of the year award

Date post: 25-Jun-2015
Category:
Upload: frost-sullivan
View: 198 times
Download: 2 times
Share this document with a friend
Description:
Based on the findings of this Best Practices research, Frost & Sullivan is proud to present the 2012 Brazilian Healthcare IT Company of the Year Award.
Popular Tags:
10
2011 South African Data Centre Green Excellence Award in Technology Innovation Cybernest © 2011 Frost & Sullivan 1 “We Accelerate Growth” 2012 Brazilian Healthcare IT Company of the Year Award 2012
Transcript
Page 1: 2012 brazilian healthcare it company of the year award

2011 South African Data Centre Green Excellence Award in Technology Innovation Cybernest

© 2011 Frost & Sullivan 1 “We Accelerate Growth”

2012 Brazilian Healthcare IT

Company of the Year Award

2012

Page 2: 2012 brazilian healthcare it company of the year award

BEST PRACTICES RESEARCH

© 2012 Frost & Sullivan 1 “We Accelerate Growth”

Company of the Year Award

Healthcare IT

Brazil, 2012

Frost & Sullivan’s Global Research Platform

Frost & Sullivan is in its 50th year in business with a global research organization of 1,800

analysts and consultants who monitor more than 300 industries and 250,000 companies.

The company’s research philosophy originates with the CEO’s 360-Degree Perspective™,

which serves as the foundation of its TEAM Research™ methodology. This unique approach

enables us to determine how best-in-class companies worldwide manage growth,

innovation and leadership. Based on the findings of this Best Practices research, Frost &

Sullivan is proud to present the 2012 Brazilian Company of the Year Award in Healthcare

IT to InterSystems Corporation (InterSystems).

Significance of the Company of the Year Award

Key Industry Challenges Addressed by Effective Strategies

The healthcare sector has seen a growing movement, the adoption of the electronic health

records (EHR)-based software solution. The idea is to develop a single and integrated

record of patients among different healthcare institutions, with data being accessed

instantly from anywhere and, if required, emergency medical attention being provided.

Projects of this type are being developed worldwide, motivated mainly by a vision of

better patient control, which can facilitate not only expense reduction, but also a safer and

quicker service for patients.

The use of an EHR solution meets several challenges in countries where there are different

decision makers for its implementation, such as Brazil. Brazilian public healthcare

Page 3: 2012 brazilian healthcare it company of the year award

BEST PRACTICES RESEARCH

© 2012 Frost & Sullivan 2 “We Accelerate Growth”

institutions are divided into federal, state, and municipal councils. This dynamics can

make EHR adoption more difficult, since all three public instances might accept this

adoption for better integration. Moreover, the local market suffers from the lack of an

adequate structure to best assume information technologies solutions usage. The

instability of the system can simply deny the IT appliance in some sensible sectors, such

as healthcare.

Healthcare IT solutions providers might invest in adapting themselves to this paradigm in

order to best correspond to the specific market needs.

Impact of Company of the Year Award on Key Stakeholders

The Company of the Year Award is a prestigious recognition of Intersytems’

accomplishments in healthcare IT. An unbiased, third-party recognition can provide a

profound impact in enhancing the brand value and accelerating InterSystems’ growth. As

captured in Chart 1 below, by researching, ranking, and recognizing those who deliver

excellence and best practices in their respective endeavors, Frost & Sullivan hopes to

inspire, influence, and impact three specific constituencies:

• Investors

Investors and shareholders always welcome unbiased and impartial third-party

recognition. Similarly, prospective investors and shareholders are drawn to

companies with a well-established reputation for excellence. Unbiased validation is

the best and most credible way to showcase an organization worthy of investment.

• Customers

Third-party industry recognition has been proven to be the most effective way to

assure customers that they are partnering with an organization that is leading in its

field.

• Employees

This Award represents the creativity and dedication of InterSystems’ executive

team and employees. Such public recognition can boost morale and inspire your

team to continue its best-in-class pursuit of a strong competitive position for

InterSystems.

Page 4: 2012 brazilian healthcare it company of the year award

BEST PRACTICES RESEARCH

© 2012 Frost & Sullivan 3 “We Accelerate Growth”

Chart 1: Best Practices Leverage for Growth Acceleration

Key Benchmarking Criteria for Company of the Year Award

For the Company of the Year Award, the following criteria were used to benchmark

InterSystems’ performance against key competitors:

• Growth Strategy Excellence

• Growth Implementation Excellence

• Degree of Innovation with Products and Technologies

• Leadership in Customer Value

• Leadership in Market Penetration

Decision Support Matrix and Measurement Criteria

To support its evaluation of best practices across multiple business performance categories,

Frost & Sullivan employs a customized Decision Support Matrix (DSM). The DSM is an

analytical tool that compares companies’ performance relative to each other with an

integration of quantitative and qualitative metrics. The DSM features criteria unique to each

Award category and ranks importance by assigning weights to each criterion. The relative

weighting reflects current market conditions and illustrates the associated importance of

each criterion according to Frost & Sullivan. Fundamentally, each DSM is distinct for each

market and Award category. The DSM allows our research and consulting teams to

objectively analyze each company's performance on each criterion relative to its top

competitors and assign performance ratings on that basis. The DSM follows a 10-point scale

that allows for nuances in performance evaluation; ratings guidelines are shown in Chart 2.

Page 5: 2012 brazilian healthcare it company of the year award

BEST PRACTICES RESEARCH

© 2012 Frost & Sullivan 4 “We Accelerate Growth”

Chart 2: Performance-Based Ratings for Decision Support Matrix

This exercise encompasses all criteria, leading to a weighted average ranking of each

company. Researchers can then easily identify the company with the highest ranking. As a

final step, the research team confirms the veracity of the model by ensuring 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.

Chart 3: Frost & Sull ivan’s 10-Step Process for Identifying Award Recipients

Best Practice Award Analysis for InterSystems

The Decision Support Matrix, shown in Chart 4, illustrates the relative importance of each

criterion for the Company of the Year Award and the ratings for each company under

evaluation. To remain unbiased while also protecting the interests of the other

organizations reviewed, we have chosen to refer to the other key players as Competitor 1

and Competitor 2.

Page 6: 2012 brazilian healthcare it company of the year award

BEST PRACTICES RESEARCH

© 2012 Frost & Sullivan 5 “We Accelerate Growth”

Chart 4: Decision Support Matrix for

Company of the Year Award

Measurement of 1–10 (1 = lowest; 10 = highest) Award Criteria

Growth Strategy Excellence

Growth Implementation

Excellence

Degree of Innovation with

Products and Technologies

Leadership in Customer

Value

Leadership in Market

Penetration

Weighted Rating

Relative Weight (%) 20% 20% 20% 20% 20% 100%

InterSystems 8.5 9 9.3 8.7 10 9.1

Competitor 1 7.2 8 7.2 8.3 9.2 7.98

Competitor 2 7.2 7.6 7.1 8 8 7.58

Criterion 1: Growth Strategy Excellence

InterSystems is a global leader in software for connected care, with headquarters in

Cambridge, Massachusetts, and offices in 25 countries. In Brazil, the corporation has been a

pioneer in implementing electronic health record systems through its TrakCare™ software.

Although it is a foreign company, InterSystems has successfully suited its growth strategy

to best understand Brazilian market needs, developing not only a tailor-made solution for

different client typology, but also being extremely committed to understanding and offering

solutions for local healthcare institutions’ main requirements.

Criterion 2: Growth Implementation Excellence

InterSystems brilliantly implemented an EHR system in Brazil for both public and private

institution chains. This stands out due to its flexible capacity of dealing with totally different

types of customers. For private healthcare institution chains, the company has provided EHR

solutions for renowned hospitals and large diagnostic centers, such as Albert Einstein

Hospital. However, one of the most impressive actions was to develop an EHR system

among healthcare public institutions for the government of the federal district (GDF) of

Brasilia, enabling more than two million patients in 17 hospitals with 4,400 beds, plus 61

health centers, polyclinics, diagnostic laboratories, and pharmacies, to obtain electronic

health records shared among themselves. The solution application has allowed not just for

better health management, but also for taking advantage of the integrated information

through an analytical process, such as the promotion of preventive actions within the

population.

Page 7: 2012 brazilian healthcare it company of the year award

BEST PRACTICES RESEARCH

© 2012 Frost & Sullivan 6 “We Accelerate Growth”

GDF of Brasilia recognized that moving from its paper-based system and automating

manual processes could yield huge improvements in terms of quality of care and deliver

significant cost reductions. InterSystems’ growth implementation process happened through

successful cases, evidenced by cost reduction and better information flux.

Criterion 3: Degree of Innovation with Products and Technologies

InterSystems TrakCare™ is an Internet-based unified healthcare information system that

rapidly delivers the benefits of an electronic patient record system. Its functionalities were

developed according to end users’ demands—health professionals who are already users of

the tool and have worked together with the corporation—providing information regarding

the solution’s main challenges and needs, especially for systems’ security and clinical

productivity improvement. Based on these customers’ necessities, InterSystems is

frequently adding new tools into the TrakCare software, such as the powerful “closed loop”

medication management within a unified healthcare information system—improving patient

safety and clinician productivity—new clinical summaries, alerts, "break the glass"

capabilities, and care planning work lists, combined with ease-of-use enhancements,

providing a system that clinicians want to use, and also a patented technology for unlocking

important information often hidden away in clinical notes.

Criterion 4: Leadership in Customer Value

Before launching a new solution or improvements to its already-leading solutions,

InterSystems goes to its clients and learns how its solutions can add more value to them.

This survey of clients clearly proves that InterSystems places a high emphasis on the

service it provides to its customers, which directly impacts the level of customer

satisfaction. In addition, InterSystems’ strategy to maintain branch offices next to its main

customers illustrates its “partnership”-oriented thinking process of not only offering quick

and efficient service support, but also continuing work after solution implementation in

order to offer a non-stop updated system, as well as being always keen to assist clients

regarding necessities thereafter.

Criterion 5: Leadership in Market Penetration

The most significant barrier to international healthcare IT corporations entering into the

Brazilian market is its solution “tropicalization” (meaning to adapt a solution used in a

developed country to a different reality). InterSystems has quickly surpassed this market

restraint, adapting its overseas EHR solution to the local market without losing its main

functionalities and tools.

InterSystemsis still the only company that could totally adapt and insert EHR solutions to

the Brazilian reality.

Page 8: 2012 brazilian healthcare it company of the year award

BEST PRACTICES RESEARCH

© 2012 Frost & Sullivan 7 “We Accelerate Growth”

Conclusion

InterSystems has pioneered and successfully introduced an electronic health records

solution into the Brazilian market. The company’s capacity to surpass several local HC IT

implementation challenges makes its accomplishment an outstanding one in terms of

understanding the main market needs and offering a tailor-made approach. The importance

of its solution for the local healthcare sector’s development will assure InterSystems a

reference and benchmark position among healthcare IT market participants in Brazil.

The CEO 360-Degree PerspectiveTM

- Visionary Platform for Growth

Strategies

The CEO 360-Degree Perspective™ model provides a clear illustration of the complex

business universe in which CEOs and their management teams live today. It represents

the foundation of Frost & Sullivan's global research organization and provides the basis on

which companies can gain a visionary and strategic understanding of the market. The CEO

360-Degree Perspective™ is also a “must-have” requirement for the identification and

analysis of best-practice performance by industry leaders.

The CEO 360-Degree Perspective™ model enables our clients to gain a comprehensive,

action-oriented understanding of market evolution and its implications for their companies’

growth strategies. As illustrated in Chart 5 below, the following six-step process outlines

how our researchers and consultants embed the CEO 360-Degree Perspective™ into their

analyses and recommendations.

Page 9: 2012 brazilian healthcare it company of the year award

BEST PRACTICES RESEARCH

© 2012 Frost & Sullivan 8 “We Accelerate Growth”

Chart 5: The CEO's 360-Degree Perspective™ Model

Page 10: 2012 brazilian healthcare it company of the year award

BEST PRACTICES RESEARCH

© 2012 Frost & Sullivan 9 “We Accelerate Growth”

Critical Importance of TEAM Research

Frost & Sullivan’s TEAM 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 seven of Frost & Sullivan's research methodologies. Our experience has

shown over the years that companies too often make important growth decisions based on

a narrow understanding of their environment, leading to errors of both omission and

commission. Frost & Sullivan contends that successful growth strategies are founded on a

thorough understanding of market, technical, economic, financial, customer, best

practices, and demographic analyses. In that vein, the letters T, E, A and M reflect our

core technical, economic, applied (financial and best practices) and market analyses. The

integration of these research disciplines into the TEAM Research methodology provides an

evaluation platform for benchmarking industry players and for creating high-potential

growth strategies for our clients.

Chart 6: Benchmarking Performance with TEAM Research

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 50 years of experience in

partnering with Global 1000 companies, emerging businesses and the investment

community from more than 40 offices on six continents. To join our Growth Partnership,

please visit http://www.frost.com.


Recommended