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3 ways to ensure the IT budget doesn’t get lost in your healthcare merger

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Leaders should be proactive about investing in IT to avoid costly issues in the future. Examine existing technology for potential risks and redundancies, assess system performance, and establish forward-looking goals and benchmarks.

There are several factors for a healthcare executive to consider while pursuing a merger.

When bringing two healthcare organizations together, leaders usually focus on integrating operations, establishing a cohesive culture and addressing critical strategic concerns. Often, healthcare IT budgets can take a backseat to more pressing issues. Unfortunately, overlooking this key component can contribute to adverse downstream effects, such as paying significantly more to fix healthcare IT obstacles that arise in the long term.

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For example, when a deal is finalized, a consolidated healthcare organization can inherit legacy applications, usually consisting of portfolios with aged or underutilized products. The organization can recognize actual savings and avoid potential security breaches down the line by employing IT consultants to decommission these apps. This strategic process is called application rationalization. Cost savings achieved, both in hard savings and cost avoidance, allows hospitals and […]

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