DigiTech Magazine - US Summer 2017 - Page 19

FINANCIAL METRICS: HANDING OUT THE CASH How do you divide funds between different on a new CIO, the company had just resources. Only once the budget model was business units, vendors, and discretionary finished developing a business strategy. ready could HealthTrust digitize. and non-discretionary requirements? Does That strategy, however, was missing a this help build enterprise capabilities and focus on strong IT, which would be required Experience shows that an adaptive long-term initiatives, or does it just add to to meet the goal of doubling the amount development process lets you capitalize your technical debt? of supply spend under management over more of your costs, but many companies the next five years. Under the new CIO, are still being too cautious, holding off on When HealthTrust, which provides the IT function got to work by setting the development of products and services performance and cost management short-term strategic priorities and arguing because it increases immediate operating services for healthcare facilities, brought for increased funding for capital and IT expenses. OPERATIONAL AND ORGANIZATIONAL EFFICIENCY: IDENTIFY YOUR STRENGTHS—AND YOUR MONEY PITS At any organization, there are capabilities each function. Once you do that, you can found that simplifying the architecture on and functions that contribute to IT operating strategize accordingly to ensure efficiency. which business solutions were built and speed, cost and efficiency—and also deployed also meant evolving the technology those that lead to waste. To reach peak HealthTrust wanted to do more than set architecture to enhance the speed of adaptability, you have to be honest with a budget; it needed to develop an IT team delivery. An architecture should be highly yourself and your organization and review that was more strategic and proactive. It integrated, modular and loosely coupled. RISK MANAGEMENT AND COMPLIANCE: CONNECT SAFELY AND STAY IN BOUNDS To be fully adaptable, you need a HealthTrust’s new model brought new organization made specific contributions technology portfolio that provides a useful capabilities to the entire company. It to customer engagement, technology platform in today’s constantly-connected transformed IT’s focus on day-to-day innovation and product development. It environment. It needs to be secure, and it operations and support and positioned learned to balance speed and agility with needs to follow organizational and legal IT as a strategic partner that could drive accountability and quality. regulations. business growth. The new and improved EFFECTIVENESS: ON TIME AND AS REQUESTED You should consistently provide services feeds of pharmacy procurement data. The capabilities will require real work. Make a that are high quality, within budget and on new IT function also received high marks clear strategy, think long term (especially time. And put the extra effort into satisfying in a company survey for alignment to the when it comes to funding), and keep your major stakeholders: It’s the best way to business needs (4.6 on a five-point scale), team energized and adaptable. With all ensure future funding and opportunity. value derived from IT tools (4.4) and ability eyes on IT investments, these capabilities to meet business needs (4.2). should be focused on producing results HealthTrust’s new IT organization went that fit the organization’s key goals—the above and beyond when it came to meeting The shift to digital has put IT in the user expectations. To prove its worth crosshairs. As technology changes more post-transition, the organization developed and more quickly, your ability to keep up an app that provided hospitals with daily with relevant, enterprise-wide technology kind of results IT needs to remain relevant. DIGITECH Magazine Summer 2017 19