building a successful healthcare it practice with glostream gregg hammerman [email protected]...
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Building a Successful Healthcare IT Practice with gloStreamGregg [email protected] of Business Development and Strategy
November 10, 2010
Agenda
• Healthcare Market Opportunity and Background• gloStream’s 3P Strategy
– Products– Processes– Partners
• Why create a Healthcare IT Practice?• The gloStream Partner Program• Getting Started
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Agenda
• Healthcare Market Opportunity and Background• gloStream’s 3P Strategy
– Products– Processes– Partners
• Why create a Healthcare IT Practice?• The gloStream Partner Program• Getting Started
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HealthcareAn Industry In Transition
• The last paper-based industry• Traditionally an IT industry laggard• Healthcare reform: cost, efficiency and quality are
drivers• Attitudes are changing: all stakeholders demand it
– Patients– Government– Insurance companies– Health systems
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The Healthcare Market Opportunity
• The EMR market is a “greenfield” opportunity• Federal Stimulus
– $20 billion set aside for physicians who are meaningful users of certified EMR technology
• Medicare: $44,000 per provider
• Medicaid: $64,000 per provider
– Physicians are paid over 5 years, high incentives to implement in 2011 and 2012
– Physicians will be penalized if they are not using EMR by 2015
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Medicare Payment Schedule
2011 $18,000 $12,000 $8,000 $4,000 $2,000 - - $44,000
2012 $18,000 $12,000 $8,000 $4,000 $2,000 - $44,000
2013 $15,000 $12,000 $8,000 $4,000 - $39,000
2014 $12,000 $8,000 $4,000 - $24,000
2015 -1% -1% MFS
2016 -1% -2% -3% MFS
2017 -1% -2% -3% -6% MFS
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-Medicare providers who practice in health professional shortage areas (HPSA’s) will have their incentive payments increased 10%.
State of the Market
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• 600,000 office-based physicians nationwide• 250,000 practices• 95% of physicians are in small practices (<10 docs)• 30% are in solo or two-person practices• 5000 Hospitals
Market Stats
What percentage of Doctors are currently using a fully functional EMR?• 0-20%• 20-40%• 40-60%•More than 60%
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Fully Functional EMR: 4%
Basic System: 13%
No System: 83%
0.00%10.00%20.00%30.00%40.00%50.00%60.00%70.00%80.00%90.00%
State of the MarketCurrent Adoption
We Know All The Key Variables
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We know who
they are
We know where
they are
They have to
buy
They get penalized if they
don’t
Someone else is paying!
Agenda
• Healthcare Market Opportunity and Background• gloStream’s 3P Strategy
– Products– Processes– Partners
• Why create a Healthcare IT Practice?• The gloStream Partner Program• Getting Started
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gloStream Strategy – 3P’s
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gloStreamStrategy
Product- Ease of Use
- Customizabledeployment
Partner- Community that
can address demand
Process- gloDNA
- Speed/Leverage- Automate processes
Product - Familiar Look and FeelEasy to Learn, Use and Support
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Architecture BenefitsgloStream’s Unique Use of Microsoft Technology
gloStream embedded with MS OfficeFlexible, easy to use, and worldwide standard
• The only EMR and PM solution with Microsoft Office built-in
• The results for our customers are significant: – Users have access to feature-rich technology they can
customize and use to collaborate with other team members whether in their office or working remotely
– Microsoft Word is the de-facto standard and most people already know how to use it, the majority of our clients are already familiar with our technology so training time is condensed
– Doctors using our EMR are up to their full patient load in a matter of days or weeks, not months
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What Microsoft is saying about gloStream
“The EMR space is one of the hottest spaces and Microsoft is making some huge bets in this space. I love the gloStream solution. They’re one of the only companies out there to have embedded Microsoft Office in a very, very innovative and easy to use way and I think they’re going to take the EMR market by storm.”
– Rodney Bowens-Wright, Director of Business Development, Strategic
and Emerging Business Team, Microsoft
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gloStream Detailed Needs Analysis Proprietary Methodology
Proposal Protocol WellnessScanConsult
gloDNA process = 100% implementation success
• Market needs fit partners capabilities
• Partners can provide the “whole solution”
• Partners are looking for new markets
• Physicians represent long-term relationship potential, managed services, and other revenue
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The Opportunity for Partners
gloStream provides Partners with Products and Processes to enter the Healthcare IT market
Agenda
• Healthcare Market Opportunity and Background• gloStream’s 3P Strategy
– Products– Processes– Partners
• Why create a Healthcare IT Practice?• The gloStream Partner Program• Getting Started
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Why create a Healthcare IT Practice
• Similar concept and reasons to create as law firm practices (real estate, intellectual property)
• The Practice becomes the trusted expert• Compelling reasons to do this:
– Differentiate your business– Become the known expert– Mitigate commoditization risk
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Polling Slide 2
What is the average annual managed service revenue per medical practice?• $2,000-$5,000• $5,000 - $10,000• $10,000 - $15,000•More than $15,000
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Partner Deal Analysis
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$513,299
$137,979
$306,000
$140,000
$204,084
$65,000
Hardware/SoftwareNetwork ImplementationgloEMR LicensesgloEMR TrainingManaged Services (An-nually)gloStream Maintenance (Annually)
10 Deals, 31 Providers = $1.36M Total
Agenda
• Healthcare Market Opportunity and Background• gloStream’s 3P Strategy
– Products– Processes– Partners
• Why create a Healthcare IT Practice?• The gloStream Partner Program• Getting Started
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gloStream Partner Program
• The only 100% Partner-driven business– We never compete with our Partners
• Attractive software discounts– High margin software revenue– Opportunities for additional/recurring revenue streams
• We focus on our Partner success by providing:– Comprehensive and ongoing training– Roadmaps & playbooks– Assistance with product demonstrations– Marketing campaigns– Continuous training
• Our Partner’s success = gloStream success
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Expert Sales resources• We are the only EMR Vendor that provides expert sales
resources dedicated entirely to the success of our Partners
• Our Territory Managers and Practice Specialists guide and mentor our Partner salespeople through prospecting process to help fill their pipeline
• This team also assists Partners with product demonstrations, proposal creation consultation, sales meetings and closing meetings
• We provide sales and marketing resources at local and regional medical society tradeshows and we provide sales resources to support you at physician events
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Marketing Support & Partner Portal• gloStream engages in a robust set of marketing activities that
promote Brand awareness and drive Partner Sales – Print and online advertising– Direct mail– Tradeshow execution– Lead buying– Social media– Search engine optimization– Economic stimulus webinars– Collateral development– Case study and whitepaper development
• All of our Marketing material is designed to be fully customizable by our Partners and readily accessible on our Partner Portal
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gloStreamPress Coverage
Partner education - gloUniversity • We provide a comprehensive set of training courses to enable
Partners to become trusted advisors and highly knowledgeable experts
• Our Partners gain a strong understanding of the healthcare industry, physician’s office workflow, and terminology
• gloU Certified Sales Training:– Provides Partner sales staff an interactive educational experience that
enables them begin to market and sell the gloStream software– Partner sales teams learn every step of the gloDNA sales methodology,
cold-calling techniques, skills to secure prospect appointments, objection handling, and closing techniques.
• Partner trainers and engineers graduate from gloU knowing how to train, implement, and support their customers.
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Partner Community
• gloStream hosts regular webinars for our Partners: – gloStream operations– Sales promotions– Marketing activities– New tools– Product and industry information
• Our Senior Leadership team regularly meets with our Partners at in-person Regional Partner Roundtable meetings
• Our goal is to build a strong Partner Community with great communication and collaboration
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What the Channel is saying about gloStream
• gloStream’s partnership with Microsoft named by CRN Channel Web as “one of the 10 Collaborations That Will Impact The Health-Care Space This Year And Beyond”
“The Pulse: gloStream is a 100 percent channel company
with a growing partner program. The company has been active in touting its products in line with stimulus opportunity…. Watch for gloStream to continue to gain traction among EMR-savvy solution providers.”
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gloStream Partner Feedback
“When gloStream says they are dedicated to their Partners, they mean it. They provide in-person sales and technical training, Partner marketing materials, collaboration tools, Partner support, and a local Territory Manager who is there to help us.”
--Randy Bankofier, 24x7 I.T. Solutions (Portland, Oregon)
“If you’re looking to build a Healthcare IT Practice and sell electronic medical record software, gloStream provides a great partnering opportunity. We recently completed a deal that drove revenue in virtually every part of my business from application development to support.”
--Michael Cocanower, IT Synergy (Phoenix, Arizona)
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Agenda
• Healthcare Market Opportunity and Background• gloStream’s 3P Strategy
– Products– Processes– Partners
• Why create a Healthcare IT Practice?• The gloStream Partner Program• Getting Started
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Next Steps:• Ask Questions
– Contact the gloStream Practice Specialist team at [email protected] or call 877-456-3671
• Attend upcoming webinars– Building a Successful Healthcare IT Practice (Repeat)
• Tuesday, November 16nd (12pm – 1pm EST)– Meaningful Use
• Wednesday, November 10 and 17 (12pm – 1pm EST)– gloStream Partner Program
• Thursday, November 18 (12pm – 1pm EST)– For the full schedule, and to register, visit gloStream
online at www.gloStream.com/emr-partner-webinars
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