Are Integration Variables Impacting your Margins?
Do you remember the good ol’ days, when you spent all day camped out in your driveway with a fold-up table, some powdered-sugar lemonade, and a huge bucket for all the money you were going to make?
Then you probably also remember the eight lonely quarters at the bottom of your big bucket at the end of the day, and the chatty neighbor who distracted you from making and selling lemonade.
In the world of digital health, we like to think of integration variables as the friendly neighbor － the thing that unexpectedly takes your eye off the prize, drawing focus away from your core competencies and business objectives. You may enjoy talking to them, but it’s not exactly what you’re there to do. In this blog, we’ll examine common integration variables and how they impact digital health companies’ ability to turn profit and scale technology.
Integration Build and Maintenance Cost
Integrations are dynamic because they constantly pull and translate data from otherwise disparate systems. What happens when one system changes? The integration no longer functions as it should.
Change is the only constant in technology, which means that integration maintenance must continue as long as an integration remains active. The more time and resources you spend building, managing, and maintaining integrations, the fewer resources you have to scale your technology to its full potential.
If you’re looking to scale your technology company quickly, you should expect a fast-growing portfolio of integrations that requires ongoing maintenance.
Maybe your team can manage two or three integrations in its current state, but what about twenty, thirty, or forty down the line? If your technology positively impacts healthcare, you want to ensure that you don’t limit your ability to grow and scale. In order to reach full potential in digital health and enjoy economies of scale, you’ll need a scalable product integration strategy that accounts for integration variables － something that traditional integration methods don’t support.
Healthcare Integration Variables Impact Profit Margins
Let’s think back to your childhood lemonade stand. How much more money could you have made per glass of lemonade, if that darn neighbor had left ten minutes sooner … how about twenty minutes sooner?
Applied to the business world, those twenty minutes could potentially be translated to twenty hours of sales and production time － a steep cost that could have been avoided had integration variables not been a concern.
Healthcare market complexities and technical challenges can prolong or extend the scope of an integration project, increasing production costs, and eating away at precious product development and sales time.
For instance, consider a large product sale that hinges on a net new EHR integration. You scope the project, determine the cost of your integrated solution, and close the sale. Months later, however, you realize that the integration project scope was much more extensive than anticipated. Unfortunately, you have to absorb the added expense because the contract with your customer has already been signed.
In scenarios like these, it’s the company’s profit margins that take the hit … and it can feel like there’s no better option. Rest assured, however, there is in fact a much better option: predictable integrations from a reliable integration partner.
Improve Profitability with Outsourced Integrations
Bridge Connector focuses exclusively on building, managing, and maintaining healthcare integrations, offering digital health teams like your own predictable integration solutions at a fixed cost. With stable costs, our customers are able to focus on what they do best: scaling innovative technologies to improve healthcare.
“With Bridge Connector owning our integrations, we have been able to fully focus on our product and make improvements faster than ever before.”
－ Laura MacKay, Chief Growth Officer, Higi
You know what they say … life gives you lemons － or integration variables － make lemonade. Bridge Connector is there for you and your team with fully managed healthcare integration solutions.
What could you do if you didn’t have to worry about product integrations? Click the button below to learn more.