Sales analytics: Analyze data needs beforehand
A. Analytics solutions give you the laser focus necessary to successfully understand consumer patterns. This positions HME organizations to execute programs that capture incremental revenues and gain a competitive advantage. When looking for analytics solutions, there are several things you should consider.
• Resource requirements: Understanding your business requirements will allow you to choose a solution most compatible with the resources on hand.
• Meeting your needs: Many companies find it much easier to make smaller monthly payments to ASP/SaaS or BPO providers than to supply an in-house analytics team. These third-party solutions require little to no additional internal resources and have a smaller impact on cash flow. ASPs and BPOs also tend to provide on demand and near real-time services, giving you access to reports from anywhere.
• Compatibility issues: Is the analytic solution compatible with your current database architecture or will you need new databases? What will it cost to configure an in-house solution compared to the costs associated with an ASP or BPO model?
• Scope: What are your options to support current and future analytics requirements? Can you afford what you need for today and in the years to come?
• Impact of growth: Will your selected solutions scale as volumes increase? Will page loading slow down as scale increases?
• Support and maintenance: Is the selected vendor’s support free and available during your operating hours? Does the vendor offer training and education?
Zachary Madrigal is vice president of business development, HME Healthcare, for Genpact USA. He can be reached at 203.512.3501 or firstname.lastname@example.org