ROI, in its traditional sense, refers to “Return on Investment” and directly measures the amount of capital return relative to an investment’s capital cost. A different perspective on ROI, championed by the late Tony Hsieh of Zappos, is less focused on financial impact but rather on the relationship between the client and stakeholder, referred to as “Return on Interactions.”
Tony Hsieh’s concept of ROI was brought to life in a recent HCTec Accelerate session – a program designed to train and develop team members’ skills around the HCTec Leader Success Profile – when guest speaker Dr. Neal Patel, CIO at Vanderbilt Health, queried the group, “What are the three possible outcomes when two people interact?” Dr. Patel’s question put directly into the spotlight the notion that every interaction is an opportunity to create a positive association and build goodwill, to have no impact, or in the worst case, to create hostility or negative feelings. The discussion reinforced the significant impact our interactions, whether person to person or person to technology, no matter how small or seemingly trivial, have on relationships, value creation, and overall outcomes.
This philosophy is equally significant when applied to healthcare providers and their IT service partners. An IT services provider who understands the power of positive interactions is more likely to be responsive, attentive, and proactive in addressing issues promptly, ultimately minimizing downtime, technology drag, clinician frustrations, and potential disruptions to patient care. At HCTec, Customer Satisfaction is a core value of our business, and we deeply understand that the quality of our interactions has a profound impact on operational efficiencies and overall client experience, whether that of administrative user, provider, or patient.
Adopting this philosophy in our chosen industry involves understanding the unique needs and challenges of healthcare organizations. It also requires engaging with healthcare professionals, understanding workflow dynamics, and staying abreast of industry regulations. By doing so, HCTec can tailor solutions that not only meet technological requirements but also align seamlessly with the clinical and operational workflows of healthcare providers.
Putting this philosophy into daily practice means emphasizing the importance of communication and collaboration between the IT services provider and the healthcare client. Clear and open communication channels facilitate the exchange of ideas, feedback, and insights, fostering a collaborative environment. In healthcare IT, where precision and reliability are paramount, ongoing dialogue ensures that the technology solutions are continuously optimized to meet the evolving needs of the healthcare organization.
For example, healthcare organizations are increasingly recognizing the importance of user experience and satisfaction among their staff. An IT services partner that prioritizes Return on Interaction is aligned with this perspective, ensuring that technology solutions are not just functional but also user-friendly and integrated seamlessly into existing workflows. This contributes to a positive work environment, reduces frustration and burnout among healthcare professionals, and enhances overall productivity.
Furthermore, healthcare providers share a common mission of driving strong high-quality patient care and outcomes. An IT services partner that understands the concept of Return on Interactions recognizes the impact of technology on patient experiences. This includes the usability of EHR systems, the integration of telemedicine solutions for convenient patient interactions, and the safeguarding of sensitive patient data through robust cybersecurity measures. By prioritizing positive interactions at every touchpoint, the IT services provider contributes directly to the enhancement of patient care and the overall quality of healthcare services.
So, now I pose a question to you: How do you or your partners exercise the Return on Interactions philosophy? How do your business outcomes differ when you prioritize relationships?
Choosing an IT services partner that understands and embodies this philosophy is essential for delivering high-quality services, ensuring a strong client experience, and ultimately contributing to the advancement of patient care within health systems and healthcare providers. The emphasis on positive interactions becomes a driving force for innovation, collaboration, and continuous improvement in the dynamic landscape of healthcare IT.
Part II on this topic will be coming soon, featuring HCTec leaders discussing specifically what Return on Interactions means in various service delivery areas.