2014 Global Healthcare Information Interoperability 2013 North American SSL Certificate Customer Value Leadership Award Product Leadership Award

Transcription

1 INSERT COMPANY LOGO HERE 2014 Global Healthcare Information Interoperability 2013 North American SSL Certificate Customer Value Leadership Award Product Leadership Award 2014 Frost & Sullivan 1 We Accelerate Growth

2 Background and Company Performance Industry Challenges With global market penetration of mobile phones reaching 96% and with about 40% of the global population having access to the Internet, mhealth is set to revolutionize physicianto-patient interaction in the Healthcare environment. An emerging patient-centric model of care delivery, a high penetration of mobile devices and the Internet, and an increase in the usage of patient data collected from a multitude of Healthcare information solutions for clinical decision making have fuelled the growth of machine-to-machine (M2M) and mhealth solutions. The market has also benefitted from the development of supporting technology, such as cloud and interoperable healthcare solutions. However, ambiguity regarding the regulatory guidelines for interoperability and patient data-sharing standards that are in a nascent stage has restricted the potential of M2M and mobile applications for Healthcare. Data security and privacy concerns are also a major factor restraining the growth of this high potential segment. Presently, the majority of the M2M and mhealth solutions developed by Healthcare IT solution providers, Telecom service providers, and mobile network operators are targeted at Healthcare professionals, consumers, and patients. However, in a bid to address the market challenges, mhealth solutions are transitioning from applications that can be downloaded and subscribed to those being used in smart devices to more integrated, clinical, personalized, and collaborative mhealth solutions. In this context, Healthcare information interoperability becomes essential for creating a sustainable connected Healthcare ecosystem. Solution providers that can offer technology for the seamless integration of various devices and systems in the Healthcare environment without compromising on patient information security are highly regarded within the industry, and these companies enjoy abundant customer loyalty. Customer Value and Implementation Excellence Delivering a Superior Total Customer Experience Validic s mhealth interoperability platform works as an interface between the digital health application developers, medical devices and Healthcare clients (which include providers, pharmaceutical companies, prevention and wellness companies, population health management companies, consumer electronics, and mhealth companies). Validic s mhealth interoperability technology platform is designed to address the two major challenges in today s connected health ecosystem, namely digital health patient information integration and data security. Validic has a wide reach over millions of patients who are facilitated though its pioneering, scalable, and reliable technology platform that provides its users with FDA Class I MDDS, HIPAA-compliant patient Healthcare information from a multitude of mobile health devices and applications in an actionable and consistent format. Validic ensures the complete security of protected health information (PHI) that is stored and transferred following the Safe Harbor deidentification standard Frost & Sullivan 2 We Accelerate Growth

3 Apart from ensuring that the servers are physically hosted in a secure data center, the company also makes sure that the customer receives superior service experience through employees who are given annual HIPAA Business Associate training. By managing the technological framework behind the secure sharing and integration of patient information, Validic allows its Healthcare clients to focus on their core competency of providing quality care. Consistently Enhancing Product Value In today s Healthcare environment, each Healthcare client handles data of thousands of patients while using a wide variety of mobile applications and devices, which makes it impossible for the Healthcare provider to integrate the various applications and devices. Validic enables the Healthcare client to maintain a single integration unit that allows them to open the data directly into the electronic medical record (EMR) and normalizes the various endpoints such that they are integrated with Validic's mhealth interoperability technology platform. Validic places considerable importance on constantly developing its ecosystem of mobile health apps, wearable devices, and in-home medical devices and consistently initiates relationships with mhealth companies of all size, scale, and reach with this objective. Currently, Validic has 152 integrations with mobile apps including Fitbit, Jawbone, Bodymedia, Omron, Fitbug, Garmin, ihealth, Withings, Calorie Counter by FatSecret and Moves. The company currently has operations in the United States, United Kingdom, Portugal, and Brazil, and plans to extend its market presence to 30 countries in Europe, Latin America, Canada, etc. With a vast repertoire of mobile integrations that is continuously growing, Validic s cloud based platform works great for enterprise deployment as well as emerging companies. As a result, Validic has a distinctive competitive edge. Unmatched Service Experience More so than any other competing solution that Frost and Sullivan reviewed, Validic alleviates the pressure on hospitals, physician groups, pharmas, payers, and wellness companies to integrate mobile apps and devices by singlehandedly performing vendor and third-party management, identification, and expansion of the portfolio of apps, and ensuring end-to-end data management with a high level of accuracy for the perusal of the Healthcare client. The value proposition for customers is superior on account of unrivaled customer service that results from Validic s quick deployment and continuous support. Through a simple and easy customer service process, customers can contact Validic Enterprise mhealth API over the phone or online. They are given instant access to mobile health data from thousands of users and dozens of mhealth apps and devices. Validic deploys the mhealth interoperability platform within a few hours, which is faster than the solutions from other market participants. A key differentiating element of Validic s service orientation is that the Validic technical team associates with developers from the customer side throughout the integration process through constant online interaction and by providing implementation support for giving the access credentials to customers Frost & Sullivan 3 We Accelerate Growth

4 Validic interacts with customers to find out what categories of apps they seek, and this inquiry process has helped Validic prioritize what integration to have at any particular point in time. Validic s feedback mechanism leverages direct one-to-one conversations with the customers wherein they can place support requests through and phone calls that will be immediately addressed. Seamless Process Design Validic s proven value is that it eliminates Healthcare clients need to build integration between their Healthcare system and their patients mobile app or device. Validic connects the mobile apps and devices to Healthcare systems by creating and maintaining API connections with a large selection of apps and devices. In addition to its standardized set of data, Validic provides the customers with access to information that is not offered as a part of the default Validic response. As a result, with Validic s mhealth interoperability platform, Healthcare companies have the flexibility to access Healthcare data from a variety of devices, applications, and information systems. Frost and Sullivan s independent research found that by providing the customers with a single connection to access the data that is seamlessly integrated, Validic is able to reduce the pressure on Healthcare clients who are already facing challenges that include, for example, the meaningful use of data and deployment of EMR. Increased Operational Efficiency Validic s mhealth interoperability platform is a unique technological solution with a quick deployment time of a few hours, plus it's 90% cheaper than building a comparable mhealth API system by the Healthcare client itself. By managing the mhealth integration Validic eliminates the Healthcare client s need for additional staff, such as full-time developers or business development professionals. Validic also allows Healthcare clients to focus on the provision of high-quality care by performing the time-consuming review process of legal contracts of mobile application partners. By constantly introducing new applications to the available database, Validic also addresses the Healthcare companies need to be up-to-date in the market. Through an annual subscription-based model that translates fixed costs to operational costs, Validic optimizes the mhealth integration process and generates high operational efficiency for its Healthcare clients. High Level of Technological Sophistication Validic s mhealth interoperability platform is platform agnostic and can be deployed with.net, Ruby, PHP, JBOSS and ios, among others. The platform is fully HIPAA and PHI compliant, which ensures the secure access of patient health information from standardized mhealth endpoints, wherein physical servers are hosted in a carrier-grade data center with a secondary backup location and redundancy. The data can be accessed at a single point through bulk data calls. The platform is highly scalable to rate of tens of millions of active users per organization and currently has access to approximately 72 million patients in its ecosystem Frost & Sullivan 4 We Accelerate Growth

5 With a highly sophisticated technology platform, Validic enables the Healthcare companies to focus on their core business objectives of providing affordable, value-based care and population management. Conclusion mhealth applications are constantly innovated to incorporate advanced features, such as data visualization and speech or sensor enablement. It is increasingly becoming part of a larger ecosystem of Healthcare systems that is comprised of EMR, HIS, and medical devices. The customer base for mobile applications is also concurrently broadening, with products aimed at Healthcare professionals and consumers gradually overlapping, especially with the rise of collaborative care and the convergence of mobile wireless technologies. Frost & Sullivan s research on mhealth interoperability confirms that Validic addresses not only the current needs of Healthcare clients, but also directs its effort to constantly evolve to cater to market developments. Identifying its proven results and this persistent drive for customer value, Frost & Sullivan recognizes Validic with the 2014 Global Customer Value Leadership Award in Healthcare Information Interoperability Frost & Sullivan 5 We Accelerate Growth

6 Decision Support Scorecard and Matrix To support its evaluation of best practices across multiple business performance categories, Frost & Sullivan employs a customized Decision Support Scorecard and Matrix. This analytical tool compares companies performance relative to each other. It features criteria unique to each award category and ranks importance by assigning weights to each criterion. The relative weighting reflects current market conditions and illustrates the associated importance of each criterion according to Frost & Sullivan. This tool allows our research and consulting teams to objectively analyze performance, according to each criterion, and to assign ratings on that basis. The tool follows a 10-point scale that allows for nuances in performance evaluation; ratings guidelines are illustrated below Frost & Sullivan 6 We Accelerate Growth

7 Best Practice Award Analysis for Validic Decision Support Scorecard: Customer Value Excellence The Decision Support Scorecard, shown below, includes all performance criteria and illustrates the relative importance of each criterion and the ratings for each company under evaluation for the Customer Value Leadership Award. The research team confirms the veracity of the model by ensuring that small changes to the ratings for a specific criterion do not lead to a significant change in the overall relative rankings of the companies. Finally, to remain unbiased and to protect the interests of all organizations reviewed, we have chosen to refer to the other key players in as Company 2 and Company 3. Decision SupportScorecard for Customer Value Leadership Award: Customer Value Excellence Measurement of 1 10 (1 = poor; 10 = excellent) Award Criteria Customer Value Excellence Total Customer Experience Product/Service Value Purchase Experience Ownership Experience Service Experience Weighted Rating Relative Weight (%) 20% 20% 20% 20% 20% 100% Validic Company Company Criterion 1: Total Customer Experience Requirement: Customers receive exceptional impression at every stage of the purchase cycle Criterion 2: Product/Service Value Requirement: Products or services offer the best value for the price, compared to similar offerings in the market Criterion 3: Purchase Experience Requirement: It is as simple for salespeople to sell the product or service as it is for the customer to buy the product or service Criterion 4: Ownership Experience Requirement: Customers are proud to own and use the company s product or service Criterion 5: Service Experience Requirement: Customer service is accessible, fast, and stress-free 2014 Frost & Sullivan 7 We Accelerate Growth

8 Decision Support Scorecard: Implementation Excellence Decision Support Scorecard for Customer Value Leadership Award: Implementation Excellence Measurement of 1 10 (1 = poor; 10 = excellent) Award Criteria Implementation Excellence Vision Alignment Process Design Operational Efficiency Technological Sophistication Company Culture Weighted Rating Relative Weight (%) 20% 20% 20% 20% 20% 100% Validic Company Company Criterion 1: Vision Alignment Requirement: The executive team is aligned on the organization s mission and vision Criterion 2: Process Design Requirement: Processes support the efficient and consistent implementation of tactics designed to implement the strategy Criterion 3: Operational Efficiency Requirement: Staff performs assigned tactics seamlessly, quickly, and to a high quality standard Criterion 4: Technological Sophistication Requirements: Systems enable companywide transparency, communication, and efficiency Criterion 5: Company Culture Requirement: The executive team sets the standard for commitment to customers, quality, and staff, which translates directly into front-line performance excellence 2014 Frost & Sullivan 8 We Accelerate Growth

9 About Frost & Sullivan Frost & Sullivan, the Growth Partnership Company, enables clients to accelerate growth and achieve best in class positions in growth, innovation and leadership. The company's Growth Partnership Service provides the CEO and the CEO's Growth Team with disciplined research and best practice models to drive the generation, evaluation and implementation of powerful growth strategies. Frost & Sullivan leverages almost 50 years of experience in partnering with Global 1000 companies, emerging businesses and the investment community from 31 offices on six continents. To join our Growth Partnership, please visit Frost & Sullivan 9 We Accelerate Growth