At HIMSS this year I had a chance to sit down and chat with Eric Morgan, CEO of StatCom. The patient flow application market segment has recently started to take off. Tele-Tracking is the oldest vendor and marketshare leader. More recent competitors, like StatCom, are persuing different strategies to deliver the most value and gain marketshare. Since joining StatCom in June, 2005, Eric has been working with his team to differentiate and focus the company on key market needs. The following are some of the things we talked about.
While the patient flow software market is far from crowded, vendors can have difficulty in standing out. There are 3 big differentiators for StatCom:
- StatCom is focusing on “patient flow logistics.” Traditional bed management is important, but is a narrow slice of everything that contributes to a patient's length of stay (LOS). Eric equates patient flow logistics with a resource plan of care that complements the patient's clinical plan of care.
- The StatCom strategy targets all the processes that can cause patient flow bottlenecks.
- StatCom continues to build on their unique technology. Their software architecture is highly scalable and the application is 100% web based. Data collection is a critical part of any patient flow application, and StatCom has a very cool programmable wireless data entry device called StatLink. They are looking to secure a broad range of input devices through business development alliances with other vendors.
The potential benefits of patient flow improvement in hospitals are significant:
- Greater patient velocity increases hospital revenues at nearly the same operating cost,
- More efficient resource planning and execution can reduce operating costs,
- Better flow and fewer problems can increase both patient and staff satisfaction.
Eric sees this market segment developing in a way that's similar to how Lawson's health care business. Hospital patient flow is rapidly emerging driver in hospital capacity management and unlike systems for the ED or surgery, cuts across traditional organizational silos.
StatCom is becoming one of the most differentiated patient flow vendors on the market – more later. Pictured at right is the StatLink (what used to be called the WiBut).