Health Information Technology Framework

Business & Financial Sustainability

Business and financial sustainability provides the fundamental starting point for the development of the economic, operational, and technical models for electronic health information exchange. The various value propositions needed to engage all stakeholders are developed and vetted. The business case for designing and building an HIE in constructed and tested. Stakeholder commitment is solidified. Financial and operational modeling is satisfactorily completed and the business plan is approved by all stakeholders.

  1. What do your stakeholders/participants have to gain? (More details)

    • Create the HIE vision for your community
    • Establish the mission for your HIE
    • Determine the values that enable you to successfully execute your mission
    • Create the business and financial sustainability principles
    Close

  2. What are your short- and long-term strategies? (More details)

    • Demonstrate that all key stakeholders have and understand their long (and short) term value propositions
    • Provide realistic models for when stakeholders will see the goals achieved
    • Develop a sequence of activities and decisions for successfully implementing your business model (decision tree)
    • Ensure the business and financial models are sustainable over time
    Close

  3. Can you quantify the anticipated impacts to the bottom line of your stakeholders/participants? (More details)

    • Develop trigger points to manage changing events - what would cause us to make a major change in the business model
    • Identify risk to actualization plans and develop concrete mitigation strategies
    • Monitor the original business and financial plan during the course of the project
    Close

  4. What are your products/services you will offer and how do they tie directly to the wants and/or needs of your community? (More details)

    • Assess the community's healthcare wants and needs
    • Identify the best HIE opportunities success for satisfying those wants and needs and determine the areas with the greatest impact for initial consideration
    • Create your business model around the wants and needs of the community as well as the capabilities and desires of your stakeholders
    Close

  5. Will your HIE project achieve sustainability quickly enough to continue stakeholder investment over time? (More details)

    • Identify your revenue sources and projected cash flows
    • Identify your breakeven point and determine if your stakeholders will stay engaged until it is achieved
    • Identify the critical success variables that get your model to sustainability quickest
    Close

  6. What is/was your start-up funding requirement, including capital and operating requirements? (More details)

    • Identify startup funding sources
    • Negotiate startup funding
    • Cost reduction/avoidance values are determined and reported
    • Obtain financial commitments and get agreements for stakeholder funding
    Close

  7. Expected Outcomes (More details)

    • Initial services agreed upon and approved
    • Value proposition for each stakeholder documented
    • Business case written
    • Pricing and revenue model approved
    • Financial plan approved
    • Funding plan approved
    • Risks to actualization are identified and mitigation strategies are developed
    • Sufficient stakeholdersin your HIE to build a sustainablebusiness
    • Sufficient and secured fundingto operate your HIE
    Close
or

Achieve Meaningful Use.