Find grants, funding and support programs from across government to help your business grow and succeed. When searching for funding in Clarke Quay Singapore, keep in mind that you’ll generally need to meet certain criteria to be eligible, and that aside from funding assistance, many programs can help your business by building your skills and knowledge.
In addition, the job search process can be mentally and emotionally challenging, not to mention the financial opportunity costs of not working in Clarke Quay is usually high.
Common scenarios include fresh graduates looking for their first full-time job; mature workers hoping to start a new phase of their career; or those who got retrenched and wish to find employment.
Unlike in the past, where people work for the same employer for the entire duration of their working lives, the working adults of today will find themselves in the market for a job much more often.
The New Approach to Healthcare Enterprise Information Management - EHR, EMR, EIM
The Republic of Malawi is a landlocked country in southeast Africa. It is separated from Tanzania and Mozambique by Lake Malawi. Malawi has eleven ethnic groups; the official languages are English and Chichewa, with other regional dialects spoken. Malawi is currently ranked 164 out of 177 on the Human Development Index, is a low-income, food-deficient and least developed country with the majority of its population of 12 million living below the poverty line. Poverty is both widespread and severe with a national poverty rate of 52 percent varying across regions. Over 86 percent of the people live in rural areas with low access to basic health and education services.
Malawi has been hit hard by the AIDS pandemic. Close to one million people in Malawi are currently living with HIV and AIDS, including 91,000 children under fourteen; half a million children have lost one or both parents to AIDS. Chronic food shortages, coupled with the longer-term burden of HIV and AIDS, has placed millions of Malawi's people in need of urgent aid. Sources: World Vision; The World Food Programme A recent article in the Harvard Business Review (June 2010) identified eight stimuli to move 'the needle' of entrepreneurship in the right direction. See 'How to start an Entrepreneurial Revolution' by Daniel J. Isenberg. Rwanda, Chile, Israel, Iceland and Ireland are cited as examples of developing practice.
The impact of the various factors is significantly influenced by the stage of economic development of the country, the level of accessibility to key enablers such as finance and cultural norms regarding entrepreneurship and wealth creation. For example, the UK may be considered to be fairly mature in this respect - if still not particularly well focused or 'joined up', Malawi, in contrast, is essentially a cash based, rain dependent agrarian economy. For the purposes of this article the eight factors have been additionally (and subjectively) categorised using a notional 'time to develop'.
Short Term (say 6-12 Months - capable of immediate action)
1. Engaging the private sector
* In the UK, there appears to be no shortage of willingness to become engaged:
* Many large companies are now working with SME's, for example, as part of their R & D value chain.
* Some supermarkets will engage with small scale suppliers and have a local sourcing policy. There is some evidence of this in Malawi although supply side co-operatives and bargaining power are not well established. In the UK, the supply chain would be much more transparent.
* Both in the UK and Malawi, mentoring is now an accepted form of knowledge and experience transfer. Good examples are the SEEDA Merlin Mentoring Scheme in the UK and, on a smaller scale, Business Consult Africa's programme in Blantyre.
* In Malawi, mentors and mentees appeared to be more reluctant to engage. In a briefing session with mentors, I encouraged them to take more responsibility for keeping the relationship alive. In the early stages of the relationship, this may well mean focusing on the emotional side of the relationship before introducing business tools and concepts.
* Business Angels have not been immune from the economic downturn but still contribute significantly in the UK. In Malawi, funding tends to come in a more informal way from friends and family.
* Relationships between the Government in Malawi and the business community are still under developed.
* Banks continue to get a mixed press in terms of their willingness to support the SME market in both countries. This is particularly so in Malawi where only about 20% of the population have bank accounts, there is an acute shortage of working capital and a focus on a property 'anchor' to secure much of the business lending.
* Middlemen SME's often feel discriminated against when it comes to the terms of trade where suppliers demand upfront payment and buyers take longer credit periods and even then still settle late.
2. Encouraging and celebrating success
* As the saying goes - 'success breeds success' - so role models who illustrate what 'good looks like' are particularly valuable. They can have a catalytic effect at both a personal and business level. In the UK, personalities come in to play here such as Richard Branson and Sir Alan Sugar.
* A BBC television programme 'Dragon's Den' gets budding entrepreneurs pitching their ideas to a panel of self made men/women who may then invest their own money if they find the proposition attractive. This is a good way of developing an understanding of what good looks like as well as appreciating the levels of creativity and innovation.
* Culture plays an important part here - which we'll look at again later. This is not just in terms of attitudes to success but attitudes to failure as well. It may be trite but it's true - mistakes are learning experiences. As they say, if you're going to fail, then fail quickly.
* The President of Malawi talks about"dreaming in colour" to energise his people. But role models of strong self-made men/women are still rare.Most of the success (which is usually seen through wealth) is created through governmental positions and respective benefits. This creates a distorted picture of success and does not inspire entrepreneurs and small business owners to find innovative and new market solutions in order to gain and breed success.
3. Subjecting financing programmes to market disciplines
* The UK SEEDA mentoring programme, which I was involved in, was provided free and funded by a 1m European Social Fund grant. It involved 70 mentors and 270 companies over a three year span. It was probably 'forced' to chase volume as there were targets for the number of mentors and companies.
* In Malawi, the CBE (Capacity Building for Enterprise) project funded by the Scottish Malawi Business Group provides consultancy services to MSMEs (micro, small and medium sized enterprises). The project charges $150 per consultancy day which is upper tariff by their standards, 50% of this is recoverable - but in arrears - under a World Bank/Malawi Government scheme.
* This, of course seems counter intuitive. The need to kick start entrepreneurship is arguably stronger in Malawi yet they are subject to the more rigorous market approach. The constraint here would appear to be the principle of 'Sustainability' where NGO's and third party donor funds are involved
* In both cases, from my experiences, the businesses being supported were modest in scale and scope and likely to remain so for some time. Nonetheless, the financial support was more justified in Malawi.
* In a recent survey s in the UK by Skillfair, 85% of freelance consultants felt SME's should pay for advice although a free upfront meeting was seen as a legitimate part of the sales process.
Medium Term (say two/three years - requiring a change of strategy/policy/regulation etc.)
4. Being judicious in emphasizing clusters and incubators
* The article suggests that the success of Silicon Valley was based on a number of unique factors which are not necessarily capable of being replicated elsewhere. So, as a model it's not seen as particularly helpful although other countries have taken this route also - see, for example, 22 at Barcelona and the Design District, Helsinki.
* Blantyre has its own Trade Centre where a diverse range of businesses sit side by side. It wasn't uncommon in the country to see roadside stalls grouped by produce such as vegetables, mats, carpets and pottery. These were natural clusters but difficult to make sense of economically because of the concentrated over supply.
* The message here is that one size doesn't fit all. Isenberg in the HBR article talks about 'an ecosystem' and NESTA in the UK talks about 'mass localism'. In a sense these are evolutionary principles with a mixed 'tight/loose' approach (circa Peters & Waterman) which encourages organic, spontaneous and experimental rather than forced development.
* Despite the lack of incubators in Malawi, there is still a huge reliance on copying existing policies. Tax exemption for manufacturing companies (as seen in Mauritius), where the experience shows no lasting (sustainable) benefits from this incentive. Manufacturing companies do not invest much since they expect policies to change, and when it does they just move the production elsewhere.
* Villages are the crux of the Malawian community. Their role should be redesigned so that the undoubted strengths can be used to create a sustainable business or development model. This is partly reflected in the credo "1 village 1 product" that was introduced some years ago. but this concept has not been developed.
5. Removing regulatory barriers
* Both communities are quick to point out the unhelpful regulatory, fiscal, support and macro economic environments in which they operate with bureaucracy generating so much 'red tape'. Such is life; real entrepreneurs don't waste time on what they can't influence in the short term although this doesn't mean they don't lobby through the appropriate channels.
* In this respect, whilst the UK benefits from shared general interest groups such as the Chambers of Commerce and the Federation of Small Businesses, these are less well developed and therefore less influential in Malawi. Business Consult Africa was trying to set up just such a network,
* In Malawi, also, there are some other issues which can be discriminatory in terms of one business versus another. One is the application or rather lack of it in the tax collection process. In a workshop session which I facilitated, Malawi businessmen and women talked about how disadvantaged on price they were if they registered and were paying tax and competitors weren't,
* In addition, in certain parts of the bureaucracy there were 'gatekeepers' who had to be 'encouraged' to deliver what they were being paid to do anyway. The workshop participants labelled this as 'corruption' although I could not possibly say this!
* Some of the short term actions of the government - for example, legislation to curb the press, undoubtedly have an adverse affect on entrepreneurial behaviour which often relies on challenging the status quo.
Long Term (say 5/6 years - endemic, behavioural and problematic)
6. Passing conducive legislation
* In the same way that structure follows strategy, I believe that, in essence, legislation should be used to appropriately underpin a proven and successful operating 'ecosystem' if you will.
* Small business creation is essentially Darwinian - as in the survival of the fittest. Tampering with the system too soon creates artificiality unless there is demonstrable evidence for positive discrimination. Otherwise, this is not a place for legislators.
* Often the challenge is not just introducing conducive legislation - but getting it to 'stick' at an operational level. This may have an adverse effect if business people are targeting emerging market gaps which are not re-enforced by the authorities.
7. Approaching the entrepreneurship ecosystem as a whole
* Many of the pressures of everyday life for most of the stakeholders in this debate (owners, shareholders, politicians, legislators, ethnicity, customers and so on) mitigate against a systems based strategic view of what is happening now let alone defining what is good for the future. There is no steady state here; flexibility and adaptability should be the hallmarks.
* In Malawi, there are a number of 'richer' issues also:
* A view that it is unacceptable for external bodies to label Malawi a 'failed state' as a recent report did.
* The funding by China of a number of significant building programmes which are well publicised and allows them to present and propagate an alternative social and economic model.
* The 'soft' democratic state of Malawi and an understandable desire given the history of Africa in general for a workable consensus above conflict - see the debate on changing the national flag.
8. Modifying cultural norms Notes 1.This change has been categorised here based on the HBR article which suggests such change is 'generational i.e. ten years or so. 2. Malawi society allows for both business men and women.
* This table should not be considered as exhaustive but illustrative in terms of the barriers that need to be considered:
Issue Malawi UK Work Ethic
* Generally energetic
* Will often have two jobs to supplement income
* Women have bonding 'housekeeper' role particularly in rural areas
* Men generally believe there is a correlation between work, rewards and pleasure
* Men & women work
* City v rural not such a distinction
* Average six children in rural areas & four in cities
* Singles rare and not accepted by society
* More career/income managed amongst professional classes
* High unmarried pregnancy rates
* High say 30% under five because of the impact of malnutrition and malaria
* Western norms
Attitude to authority
* Generally compliant;
* Few avenues for dissent
* Giving orders and compliance are the norm
* Generally disinterested but pockets and channels for agitation
* Collaborative working well established
* Low take up of subsidised funding e.g. BUGS (26% 6/2010 against target 60%)
* Money made available without necessarily embedding the knowledge
* Difficult to identify myriad of sources
* Well established networks and support agencies
Attitude to risk
* Followers rather than innovators
* Initial response typically 'yes' although this does not signal commitment
* Anesthetized by historical longevity of employment and prevalence of public sector e.g. UK and Saudi Arabia
* Should not be conspicuous
* May literally hide money in the ground
* Few overt role models
* Immature banking habit
* Hard due to large families that need to be provided for
* More through governmental initiatives & perks than entrepreneurship or business roles
* Personality Brands e.g. Richard Branson
* But backlash to excesses e.g. bankers
* Trader mentality focused on 'doing the deal' irrespective of economic fundamentals
* May be seduced by volume and attraction of new v existing customers
Symbols of Success
* Fat and apparently happy
* Cars are OK
* Private schools for children
* Shopping in supermarkets
* Usually some form of conspicuous consumption such as cars/wives/
homes/holidays/media attention Entrepreneurship
* Usually runs in parallel to existing employment
* Few role models or heroes
* Strong regional focus (3)
* Still a minority of the working population
* Currently being squeezed by corporate downsizing and declining asset values of. houses and pensions
Scaling the Opportunity
* Little experience beyond sole trader
* May be just enjoying the lifestyle the business supports
* Franchising models available
* Little desire to permanently live abroad, most students return to their countries
* The world is a playground.
To support Singaporeans based in Clarke Quay in these aspects, here are the government grants and resources that you can utilize. These programs are administered by Workforce Singapore, a statutory board under the Ministry of Manpower.
A service excellence seminar will give you the competitive advantage you need to survive in a tough business climate. In today’s customer-oriented business environment, people skills are critical for personal and organizational success.
Likewise, a customer service excellence seminar gives you the skills you need to communicate professionalism, gain respect, enhance customer relationships and secure an overall competitive advantage through customer service excellence.
How you handle your customers can directly affect your individual goals as well as your team’s and company’s performance.
Critical Entrepreneurial Skills
The lack of a healthcare specific, compliant, cost-effective approach to Enterprise Information Management (aka EIM) is the #1 reason integration, data quality, reporting and performance management initiatives fail in healthcare organizations. How can you build a house without plumbing? Conversely, the organizations that successfully deploy the same initiatives point to full Healthcare centric EIM as the Top reason they were successful (February, 2009 - AHA). The cost of EIM can be staggering - preventing many healthcare organizations from leveraging enterprise information when strategically planning for the entire system. If this is prohibitive for large and medium organizations, how are smaller organizations going to be able to leverage technology that can access vital information inside of their own company if cost prevents consideration?
The Basics -
What is Enterprise Information Management?
Enterprise Information Management means the organization has access to 100% of its data, the data can be exchanged between groups/applications/databases, information is verified and cleansed, and a master data management method is applied. Outliers to EIM are data warehouses, such as an EHR data warehouse, Business Intelligence and Performance Management. Here is a roadmap, in layman terminology, that healthcare organizations follow to determine their EIM requirements.
Fact #1: Every healthcare entity, agency, campus or non-profit knows what software it utilizes for its business operations. The applications may be in silos, not accessible by other groups or departments, sometimes within the team that is responsible for it. If information were needed from groups across the enterprise, it has to be requested, in business terminology, of the host group, who would then go to the source of information (the aforementioned software and/or database), retrieve what is needed and submit it to the requestor - hopefully, in a format the requestor can work with (i.e., excel for further analysis as opposed to a document or PDF).
Fact #2: Because business terminology can be different WITHIN an organization, there will be further "translating" required when incorporating information that is gathered from the different software packages. This can be a nightmare. The gathering of information, converting it into a different format, translating it into common business terminology and then preparing it for consumption is a lengthy, expensive process - which takes us to Fact #3.
Fact #3: Consumers of the gathered information (management, analysts, etc) have to change the type of information required - one-off report requests that are continuously revised so they can change their dimensional view (like rotating the rows of a Rubik's cube to only get one color grouped, then deciding instead of lining up red, they would really like green to be grouped first). In many cases, this will start the gathering process all over again because the original set of information is missing needed data. It also requires the attention of those that understand this information - typically a highly valued Subject Matter Expert from each silo - time-consuming and costly distractions that impact the requestor as well as the information owner's group.
Fact#4: While large organizations can cope with this costly method in order to gather enough information to make effective and strategic business decisions, the amount of time and money is a barrier for smaller or cash strapped institutions, freezing needed data in its silo.
Fact #5: If information were accessible (with security and access controls, preventing unauthorized and inappropriate access), time frames for analysis improve, results are timely, strategic planning is effective and costs in time and money are significantly reduced.
Integration (with cleansing the data, aka Data Quality) should not be a foreign concept to the mid and smaller organizations. Price has been the overriding factor that prevents these tiers from leveraging enterprise information. A "glass ceiling", solely based on being limited from technology because of price tag, bars the consideration of EIM. This is the fault of technology vendors. Business Intelligence, Performance Management and Data Integration providers have unknowingly created class warfare between the Large and SMB healthcare organizations. Data Integration is the biggest culprit in this situation. The cost of integration in the typical BI deployment is usually four times the cost of the BI portion. It is easy for the BI providers to tantalize their prospects with functionality and reasonable cost. But, when integration comes into play, reluctance on price introduces itself into the scenario. No action has become the norm at this point.
What are the Financial Implications for a Healthcare Organization by maintaining the status quo?
Fraud detection is the focal point for CMS in their EHR requirements of healthcare organizations, Let's take a deeper, more meaningful look at the impact of EHR. Integration, a prominent component of Enterprise Information Management in the New Approach, brings data from all silos of the organization, allowing a Data Quality component to verify and cleanse it. The next step would be to either send it back to its originating source in an accurate state and/or put it into a repository where it will be accessible to auditing (think CMS Sanctions Auditors), Business Intelligence solutions, and Electronic Health Records applications. With instantly accessible EHRs, hospitals and their outlying practices can verify patients with payors, retrieve medical histories for diagnosis and treatment decisions, and update/add patient related information. What impact to treatment does a review of a new patient's history have for both patient and practice? Here are some elements to consider:
1. Diagnosis and treatments that are based on previous patient dispositions - reducing recovery time, eliminating Medicare/Medicaid/Payor denials (based on their interpretation as to fault of the practitioner in original treatment or error incurring additional treatment).
2. Instant fraud detection of patients seeking treatment for the same malady across the practices within the organization. Prescription abuse and Medicare fraud saves money not only for the payors, but the healthcare organization as well.
3. The Association of Fraud Examiners states that 9% of a Hospital's revenue each year is actually lost to fraud.
One overlooked but common impact is in the cost of managing patient records. Thousands of file folders in storage with new instances being added each time a new patient enters into the system. Millions of pieces of paper capturing patient information, payer data, charts, billing statements, and various items such as photo copies of patient IDs, are all stored in those folders. The folders are then stored in vast filing cabinets - constantly being accessed by filing clerks, nurses, practitioners and assorted staff. Contents of the files being misplaced or filed incorrectly. Hundreds, if not thousands, of square feet being consumed for storage. The AHA projects that an enterprise leveraging Electronic Health Records will recover no less than 15,000 square feet of usable space. That space can be used for additional services, opening up new channels of revenue. The justification is easy: how much would it cost the hospital to build out 15,000 square feet for a new service? The average cost to build space utilized for Health Services is $65 per square foot, or $975,000 total. An EIM solution through the New Approach would be less than 20% of that. Not only has the EIM solution reduced dollars lost to fraud, lowered the days for payor encounters to be paid, increased cash on hand, but it will also open up new services for the patient community and revenue back to the healthcare organization.
Electronic data is costly in its own way. Bad aka "Dirty" data has enormous impact. Data can be corrupted by error in data entry, systems maintenance, database platform changes or upgrades, feeds or exchanges of data in an incompatible format, changes in front end applications and fraud, such as identity theft. The impact of bad data has a cause and effect relationship that is pervasive in the financial landscape:
1. Bad data can result in payor denials. Mismatched member identification, missing DRG codes, empty fields where data is expected are examples of immediate denials of claims. The delay lowers the amount of Cash on Hand as well as extends the cycle of submitted claim to remittance by at least 30 days.
2. Bad data masks fraud. A reversal of digits in a social security number, a claim filed as one person for the treatment of another family member, medical histories that do not reflect all diagnosis and treatments because the patient could not be identified. Fraud has the greatest impact on cost of delivering healthcare in the United States. Ultimately, the health system has to absorb this cost - reducing profitability and limiting growth.
3. Bad data results in non-compliance. CMS has already begun the architecture and deployment of Sanctions Data Exchanges. These exchanges are a network of data repositories that are used to connect to health healthcare system, retrieve CMS related data, and store it for auditing. The retrieval will only be limited to the patient encounters that show a potential for denial or fraud, so the repository will not be a store of all Medicare and Medicaid patient encounters. But, the exchange has to be able to read the data in its provider data source in order for CMS to apply certain conditions against the information it is reading. What happens when the information is incomplete or wrong? The healthcare system is held accountable for the encounters it cannot read. That means automatic and unrecoverable denials of claims PRIOR to an audit, regardless of claim legitimacy.
The Price Fix by Big Box Healthcare Technology Firms
Are the major healthcare software and technology vendors (Big Box) price gouging? Probably not. They are a victim of their own solution strategies. Through acquired and some organic growth (McKesson, Eclipsys, Cerner, etc), they find their EIM solutions lose their agnostic approach. This is bad...very bad for health systems of all sizes. With very few exceptions, the vast majority of healthcare organizations DO NOT BUY all applications and modules from a single stack player. How could they? Healthcare systems grow similarly - some organic, some through acquisition. When a hospital organization finds over the course of time, an application that is reliable, such as a billing system, there is tremendous reluctance to remove a proven solution that everyone knows how to use. Because the major technology providers in the healthcare space act as a "One Stop Shop", they spend most of their time working on integrating in their own product suite with little to no regard to other applications. Subsequently, they find themselves trapped: they have to position all products/modules to maintain the accessibility and integrity of their data. This is problematic for the hospital that is trying to solve one problem but then must purchase additional solutions to apply to areas that are not broken, just to be able to integrate information. That is like going to the hardware store for a screwdriver and coming back with a 112 piece tool set with a rolling, 4 foot cart built for NASCAR. You will probably never use 90+% of those tools and will no longer be able to park in your own garage because the new tool box takes up too much space!
IT resources - including people - must be utilized. In today's economy, leveraging internal IT staff to administer a solution post-deployment is a given. If those IT resources do not feel comfortable in supporting the integration plan, then status quo will be justified. This is the "anti" approach to providing solutions in the healthcare industry: the sales leaders from Big Box technology firms want their sales people in front of the business side of the organization and to stop selling to IT. While this is a common sense approach, the economy in 2010 mandates that IT has to at least validate their ability to administer new technology solutions. The prospect of long-term professional consulting engagements to follow post installation has been shrinking at the same rate as healthcare organizations profit margins.
Empowering the healthcare organization to utilize its existing IT staff to administer and develop with the new products is not part of the business plan when Big Box players market to the industry. It is the exact opposite - recurring revenue from lengthy, and sometimes permanent, professional services consulting engagements is part of the overall target. The initial price quote for a Big Box solution is scary enough, but the fact remains that it is still not representative of what the ongoing cost to maintain through consulting arrangements. This is a variable cost, which is difficult to predict, and drives finance managers and executives crazy.
Solving the Dilemma - A Better Solution through a New Approach at a Fraction of the Cost
When Healthcare Business Experts combine talents with Technology Architects, EIM Solutions cost drop dramatically. This is the New Approach to Healthcare EIM, providing the way health organizations will be able to provide successful solutions at significantly reduced costs - opening the door for health systems of all sizes.
The EIM Firm (using the New Approach) versus Big Box Healthcare Technology Providers:
Smaller, more agile firms bring many benefits to Healthcare Organizations of any size. The benefits:
1. They are focused on specific verticals - just like the Big Box Health Technology providers. Subject Matter Experts (SME) in the smaller firms typically are industry veterans with years of experience and success in their approach who see their resume as a service offering better utilized when they are able to apply their methods for successful strategy planning as opposed to learning the methods of a Big Box player. Their income is better since their revenue is applied into a smaller operating cost, extending lower pricing for solutions that are MORE EFFECTIVE and offering stronger client/vendor relationships as the SME limits themselves to a certain number of clients.
2. Solutions built on proven approaches and strategies. Again, the firm's SMEs are able to define a methodology that can be re-used or re-configured in each client instance. This saves time and money for the client as delivery is accelerated and the cost of architecting is eliminated.
3. The firms themselves develop solutions and methodologies agnostically. Their understanding of the diversity of systems that exist in the technology of a healthcare organization allows them to not only develop adaptable solutions but also add a Business Process Management Plan (BPM). The BPM will define for the organization EXACTLY how information is received, processed, cleansed, stored, shared and accessed. It also will define an action plan for training IT for administration and support as well as end users at all levels on how they will leverage it going forward. BPM planning in a healthcare organization is a low six figure investment with an outside consulting group. The EIM firms will include it in the cost of the solution. Basically, it is the difference in being told what is wrong and here are the recommendations to fix it versus here is what is wrong and this is how it will be fixed with the new solution.
What is a typical EIM Firm solution?
1. Solution Assessment, noting the current systems, data sources and methods of sharing information as well as business processes, key personnel identification that are gate keepers if information, timeliness of providing information and overall effectiveness in leveraging enterprise information for strategic business planning. See figures 1 for an example of the information process flow visual component of an actual assessment.
2. EIM solution that contains an integration engine that accesses all data sources - reading and writing back to the database or application, providing data quality services and maintaining HIPAA as well as HL7 requirements. See Figure 2 for a diagram.
3. EHR Data Warehouse. A repository to build Electronic Health Records through the integrated data flow.
4. EHR Portal for patient entry (when additional information needs to be added) via a browser.
5. Business Intelligence Dashboards for metrics, AD Hoc analysis and Performance Management Scorecards on organizational goals and objectives.
6. Onsite implementation and integration of the EIM solution.
7. Onsite training during installation for IT and end users. Ongoing training provided via webinars, documentation and technical support staff.
8. Relationships maintained by the Subject Matter Experts for the life of the solution.
9. Stimulus "HITECH" Act pays $44,000 per physician for an EHR solution implemented. The SME creates the grant request to be submitted so the healthcare organization receives Stimulus funds to pay for the total EIM solution
Key Element of the Solution
Onsite Delivery and full time support are key. But, the most important element is training. Why? As noted earlier, it is paramount that existing IT investments, namely personnel, be able to not only administer but also conduct development as the need arises. In Healthcare, CMS managed Medicare/Medicaid is already margins that are in the negative. As private payers follow suit, the number of uncollectable encounters will increase, impacting current profitability models and increasing future cost for treatment. By mitigating IT costs, the Total Cost of Ownership (TCO) qualifier should actually evolve to a Return on Investment (ROI). ROI is immediate for this solution approach, but it is sustained year over year by leveraging internal IT to support and develop. Now, the Healthcare Organization has eliminated costly professional service consulting engagements and re-investments into new feature licensing. This takes a variable cost every year and makes it a fixed, yet smaller amount - a sensible financial approach to accomplish a proven strategy.
Why EIM? Whether it is Omnibus, "Obama"-care or an edit (not overhaul) of the Healthcare industry, Healthcare Organizations know these truths:
1. Electronic Health Records are necessary for the Fraud detection unit of CMS. Each organization must comply with accessibility, HIPAA and format. Fraud reduces overall revenues for a hospital by 9% (ACFE)
2. EHR/EHR have proven to be highly effective in eliminating internal waste, patient fraud, practice fraud and paper overhead. Vast amount of space within the facilities that had been used to store patient records in hard copy can now be utilized to provide additional services and open new revenue streams.
3. Bad or "dirty" data in electronic or hard copy format is costly. According to the AHA (September, 2008), the average cost of a patient record with good or accurate information is $343 annually. The annual cost of a patient record with bad information is $2,054 annually. On average, 18% of patient information within a healthcare organization is bad.
4. Strategies developed by healthcare organizations without 100% of the information they own that is also timely and relevant are ineffective. Objectives cannot be defined, successful processes cannot be identified and improvement plans have little to no metrics in which to determine success.
5. Stimulus/HITECH Act pays $44,000 per physician when EHR is part of the EIM solution. With the smaller EIM firms, Stimulus pays for the entire solution.
Why a New Approach EIM Firm?
1. Subject Matter Expertise from consultants that have proven methodologies.
2. Agility to adapt to the client need instead of the Big Box approach of the client adapting to their product limitations.
3. A Better Solution at a Fraction of the Cost. Their solutions are based on needs and not features.
4. Relationships with the vendor, resulting in improved services, maximum values from vendor solutions and a focused approach to the client needs and goals.
5. A Return on Investment as opposed to a Total Cost of Ownership. Clients need to see solutions that immediately pay for itself and then recover lost revenue while offering channels to new profit centers.
Who Should Attend ?
Thelearningtobefearless advocates that you belong to any of this you should consider attending such skill enhancement programs. Small business owners, customer service representatives, technical and support personnel, field service representatives, account managers, credit and billing specialists, as well as managers who want service excellence training.
How You Will Benefit ?
You would be able to deliver better, faster service, and increase customer satisfaction through a customer service excellence seminar. You will learn how to gain repeat business in Clarke Quay Singapore.
In addition to all this you should often check the Government jobs portal that aims to provide Singaporeans and Permanent Residents (PRs) with free job search service that matches them to jobs based on their relevant skills.