Decision Insights: So What?
KLAS has always been really good at talking about how vendors are performing based on candid provider feedback. But sometimes there is a disconnect between that performance and which vendors are getting looked at by your peers. So when we started publishing Decision Insights about two and a half years ago, we wanted to understand which vendors healthcare organizations were actually buying from to (1) understand the more complete picture and (2) help providers select the best vendors for their organizations.
What Does Decision Insights Really Answer?
Decision Insights gives an added dimension to the provider decision-making process. Of course, providers want to know which vendors are performing well, but they also want to know which vendors have the most buying energy. The combination of performance and market energy in a single vendor can become pretty powerful.
Market energy encompasses two key questions: Which vendors are providers looking at and considering? Which vendors are they replacing? Decision Insights answers both of those questions. When we first started, I wrote out this formula: Consideration + Retention + Satisfaction = Decision Insights. Another way to define it is to ask whether customers are buying what a vendor sells, whether the vendor is holding onto their customers, and whether those customers are happy.
What Providers Should Know
Many providers already know about KLAS, our performance data, and our website. But I don’t think as many are aware that Decision Insights is free data for providers. We have these insights for more than 30 software market segments, including acute care EMRs, PACS solutions, and virtual care platforms. To see the full list and other helpful information, check out our Decision Insights landing page.
If you’re a provider, you ought to use Decision Insights to inform at least a part of your decisions. The bonus is that as more providers start using the tool, more pressure is put on vendors to show that they can be consistent with their customers. Why not gain that extra level of insight alongside the Best in KLAS designation? With the upcoming Decision Insights 2020 National Trends report, the Decision Insights data set now is now composed of around 4,000 HIT purchasing decisions. That data really speaks for itself, and we’re collecting more all the time.
Past InsightsÂ
Aside from the live website data, KLAS also publishes a few Decision Insights reports each year, including the National Trends report. One of the big headlines from theDecision Insights 2019 National Trends report was the correlation we found between innovation and consideration. Among high-performing vendors being considered, the ability to innovate was a common characteristic.
The factors at play in replacement decisions were also a great insight in last year’s report. The data showed that the most common reason a provider replaced a vendor was a lack of integration between systems. Surprisingly, integration was an even bigger factor than functionality, which was the third reason. In other words, the ability to play well with other vendors was more likely to be a reason a vendor was chosen than superior functionality.
Coming Soon
KLAS will be publishing the Decision Insights 2020 National Trends report right before HIMSS 2020, and we are excited to talk about those new insights and where the buying energy is in healthcare at the KLAS booth (#3931). If you’re coming to HIMSS 2020, you are welcome to come learn more at either of KLAS’ Decision Insights presentations on Tuesday, March 10.
