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Top Story:
Are We a Dying Breed? |
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As I
hung up the phone with an old friend of mine currently at Misys, I
was concerned at one of his last statements to me. When I
asked him if Misys used resellers to sell their products, he replied
that they did not and that a lot of companies "were moving away from
using independent resellers." Could this be true, I thought?
There certainly is a lot of data to support his claim.
Millbrook, owned by GE, and Medical Manager, owned by WebMD are
probably two of the biggest examples of major medical software
companies moving away from their reseller programs. The irony
is that it was their reseller programs that enabled them to become
leaders in the medical software industry in the first place.
More. |
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Company Spotlight:
NexTrust eStatements |
 NexTrust
lives and breathes eStatements. Where some companies are
pursuing eStatements as an afterthought or as a tertiary
source of revenue, NexTrust's singular focus is on
eStatements. And right now, you can sign up as a NexTrust
Reseller for no cost. It is a no risk proposition to give
them a try (see the Special Offers Page). I am
confident after speaking with several resellers who sell
their eStatements services, that your clients will thank you
for becoming a NexTrust Reseller and for introducing them to
NexTrust.
More. |
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InvestMed
News: New Website Launched |
We have now launched investmed.com. This new website contains detailed
features on our newest reseller product the InvestMed
Patient Kiosk. We invite you to tour the new site
and welcome your feedback:
www.investmed.com
If you are interested in
helping to test or sell this new product,
please contact us at:
investmedllc@investmedllc.com
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Quote-of-the-Month |
"The average EMR [electronic medical records system] costs
$10,000 to $12,000 a year. The average economic value is
about $20,000 a year."
-- John Glaser, CIO of
Partners HealthCare System Inc. 11.24.04 |
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About
InvestMed |
InvestMed
President and Founder, Kevin Burdick, is in his
7th year in the medical software industry.
Mr. Burdick brings a unique perspective to
resellers because of his industry knowledge and
experience.
After
graduating from Brigham Young
University in 1997, Kevin began
working for Medisoft. As the Medisoft Northwest Regional
Sales Manager, he helped hundreds of resellers
by counseling them on developing and growing
their business in the Northwest. After NDCHealth purchased
Medisoft in 2000, Kevin Burdick was promoted to a
mid-level sales manager, managing sales of both Medisoft and
Lytec throughout the mid-west. In
2001, Mr. Burdick left NDCHealth after accepting
a job as Vice-President of Sales for AltaPoint
Data Systems. At AltaPoint he helped
develop their unique reseller program and worked to
expand their reseller coverage nationwide.
Following almost 2 1/2 successful years there
where AltaPoint tripled its installation base
and grew from 30 to 210 resellers nationwide,
Mr. Burdick left to develop and manage InvestMed.
Mr.
Burdick currently works as a medical software
consultant working directly with both resellers
and industry professionals on a variety of
topics including: finding recurring revenue, developing
a focused marketing plan, maintaining good salesmanship,
building a lasting customer base, choosing the
right products, understanding HIPAA, and more...
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Refer a Friend |
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There are currently 1691 industry professionals
and medical software resellers who receive the InvestMed eNewsletter
monthly.
Do you know a reseller or industry
professional that could benefit from this
free eNewsletter? Sign-up an associate
at:
www.investmedllc.com |
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Q&A |
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Dollars & Sense
Financial Corner |
 Resellers
promote their company name to create a more recognized
“brand image” in their geographic target market and to build
awareness of their company’s logo, products and services.
This leads to new customer referrals and more customer
retention. It gives prospective customers the assurance that
you are well versed in the many aspects of providing
full-service to their business needs.
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HIPAA Corner:
Network Security
Tune-Up |
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 There are important features that your
medical application software requires for HIPAA security compliance
– unique user IDs, passwords, flexible access control, audit trail
reports, automatic logoff, and good application design for
security. While these are essential, it can be argued that good
security has even more to do with good network administration. VARs
who offer a full service solution – hardware, application software,
and support are at an advantage and can offer a “Network Security
Tune-Up.”
More. |
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Industry News |
| Recent
News that Might Affect Your Business 11.29.04
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Unprotected PCs can be hijacked in minutes
11.28.04
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Defining Health IT: A Dozen Notable Moments in 2004
11.24.04 -
Health IT: Unlocking the Logjam
** 11.15.04 ** -
Total Practice Partner (TPP) Receives the InvestMed 2004
Award of Distinction for Most Complete Fully-Integrated
Clinical System
11.15.04 -
EHR Vendors Unite for Interoperability
11.04.04 -
Health IT Needs Creative Economists
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Marketing Tip:
Small Business PR |
Public Relations is a concept generally associated with big business,
however, PR is also an important and cost effective
marketing tool for small businesses as well. With more
media outlets then ever before, if you aren't finding
reasons to issue press releases, you aren't trying.
The
media dulls out millions of dollars in free marketing
everyday. A quick search of news articles on Yahoo
reveals almost as many press releases in healthcare as any
other type of news stories. So how do businesses take
advantage of this free media coverage?
First, it is important that you identify the local media
persons who are in charge of writing or reporting about
healthcare or technology in your state.
Getting these individual's contact information and finding
out how to submit a press release to them should be your
first objective.
Second, you must identify the interesting story that you will
be issuing a press release on. I once had a employer
tell me that there were no "interesting stories" at his
company and thus no reason to issue press releases. I
nearly fell out of my chair. This is short sited and
untrue -- Every company has interesting stories.
"[Large Influential Office] Selects [our company] as
their Primary IT Source" "Revolutionizing Healthcare
in our Community" "Company Wins Influential Award for
Service" "Company creates new product" There
are ALWAYS stories!
And Finally, I would call your local
press contacts and let
them know that there is a very interesting press release you
will be sending to them. Give them a little "teaser"
on what its about and then submit it to them in their
preferred manner (often e-mail). Additionally, there
are a large number of healthcare, business, or technology
media websites specifically setup for receiving and
distributing press releases. Depending on the size of
your company and your geographic territory you may consider
submitting to some of these additional media outlets as
well:
http://www.prweb.com/
http://www.business.wire.com/
http://www.marketwire.com/
http://www.prnewswire.com/
http://www.techweb.com/
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