Shahid Shah of Netspective understands the role of technology in the healthcare, government, and medical technology industries. He understands that solid technological offerings enable those in these fields to better care for their patients and other customers by not having to worry about systems not working properly.
In this interview, Shah explains what Netspective offers and how it makes the businesses they work with operate better.
How does Netspective enable those in the healthcare, government, and medical technology industries to make better use of their time by not dealing with technology problems independently?
Netspective’s slogan, which is also our mission, is to “Extend the Enterprise.” What that means is that our customers, like physician offices and independent practices (“enterprises”), focus on their core competencies – taking care of patients – while we take care of their practices by filling in many tech gaps. We help our customers identify business and security risks, find HIPAA compliance holes, discover cost-effective ways of deploying next-generation EHR technology, and help maintain or enhance physicians’ reputations.
Any loss in trust or reputation usually means direct loss in patient revenue – many practices do not know their scores on various rating and ranking websites and low rankings can often do as much damage as having HIPAA compliance or security risks.
How does Netspective differ from similar businesses? What stands out the most about Netspective?
Netspective helps identify and contain all kinds of tech and business risks starting with security and compliance, but doesn’t stop there. Netspective is different because we don’t just help with the tech; we cover issues like cybersecurity insurance, general technology consulting, and most importantly, revenue enhancement advice. Netspective understands that the tech is there to serve the business; and if profits are under pressure or revenue is suffering, we need to make sure the IT systems we install can help fix those issues.
When it comes to generating revenue, how does Netspective enable customers to do this?
First, we use our products to help understand the “digital stature” of our physicians by reporting what patients across the Internet think about them – from ratings on Yelp to HealthGrades to potential negative sentiments on forums or chat sites. Second, once we understand the physicians’ digital statures, we work to help improve those ranking and reputations in a way that maximizes revenue.
At the same time, we make sure that their practices’ cybersecurity and cyber risk postures are solid, so that their use of next-generation digital technology like telemedicine and patient portals can be used to attract more patients safely and effectively. Lastly, we help our customers understand the shift from fee for service to value driven and accountable care, and what that means to their technology infrastructure and footprint. If practices want to be collaboratively reimbursed with other colleagues in an ACO, for example, they cannot do that effectively without great tech advice and next generation tech vendors.
What gives Netspective a unique edge in the fields of healthcare and medical technology industries?
Netspective is an expert at the tech, with deep knowledge of health and medical industries; but we work in other heavily-regulated areas such as the government and financial sectors, too.
We use our expertise gained in sister industries to cost-effectively solve problems in healthcare using a more unique approach than those who exclusively work in healthcare. We know where the medical space is different, but also where it can use great ideas from other sectors. For example, the government spends about $80 billion a year on IT and gives out a great deal of free software, advice, standards, and documentation. If you know where to look, and Netspective certainly does, you can get a lot of new tech at low prices from those sources.
Describe the Netspective approach to medical billing.
While we’re not directly involved in medical billing, we do advise our customers about which payment technologies, pre-authorization tools, practice management systems, RCM vendors, and payment clearinghouses they should use to help reduce late payments and improve collections.
We are also experts in technologies that can be used in next generation value-based reimbursement business models where billing for bundled payments and risk-bearing institutions is quite different than legacy approaches.
What services do you offer that deal with the cloud and big data?
All of Netspective’s tools run in the cloud, and we’ve been advising our clients about how to use cloud technologies for years. All of our risk and security assessment services include reviewing cloud offerings, and we advise our clients about the best approaches to performing revenue and clinical analytics using big data technologies.
Many of our customers, especially those in oncology, are diving into “-omics” size big data for genomics analysis for personalized medicine. Our consultants have helped marquee customers architect their databases for next generation clinical capabilities that only cloud-based big data technologies can handle.
Describe the technology services that you offer and how they benefit your customers.
Netspective offers advisory services to help with strategy and planning, assessment services for HIPAA and security risk identification, selection services that let us help our customers choose the right vendors, and implementation services that help deploy and put the right technologies into use. We also provide managed services that can help continuously monitor technologies to ensure they’re working well over time.
How does Netspective keep up with trends in the medical technology, healthcare, and government industries?
Netspective is a thought leader in the space. My own blog, HealthcareGuy.com, as well as our partners’ contributions at HealthcareGuys.com, help us not only track the trends but lead them. We are contractors to the federal government and we track the legal rules and regulations early so that we can adjust our advice and implementation techniques appropriately. By making sure that we’re thought leaders and not followers, we know that we’re never going to get caught unprepared.
Please share anything additional that you would like readers to know about Netspective.
Today’s medical practices and healthcare institutions are trying to move from paper-native to digital-native under complex regulations and very difficult business models with declining reimbursements and higher per-patient costs. Technology implementations are difficult and can often cause many years of transition problems, and that’s where Netspective’s years of experience can come in handy.
Our consultants, advisors, engineers, and operations personnel know what can go wrong, and they make sure the transition from paper to digital can happen with as little harm to revenue as possible.
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Last Updated on March 7, 2016