Lester earned a BS Finance and Management from Montclair State University and an MBA in Marketing Management from Rutgers. In addition, he is a certified PMP (Project Management Professional), CSM (Certified Scrum Master) and CSPO (Certified Scrum Product Owner).
As a product manager in the healthcare information technology industry, I speak with customers, potential clients, partners, and competitors on a regular basis to identify emerging trends. For the most part, the feedback is actionable and concrete—there is a market need that is both urgent and pervasive, and, if solved correctly, will bring value to our customers. However, recently the topics on everyone’s minds are more abstract. They are monolithic concepts like “interoperability,” “big data,” “analytics,” “outcomes,” and my favorite: “population health management.”
Every year the research and advisory company Gartner releases a “Hype Cycle” for various industries. It plots the most-talked-about emerging technology trends on a continuum, and, based on historical track records, estimates how long before that technology becomes productive. Below is the continuum and what the stages actually mean. This year’s release includes three technology items that reflect the concepts mentioned above. According to Gartner, “Content Analytics,” “Big Data,” and “Mobile Health” are 5–10 years from becoming productive technologies that are widely embraced and, more importantly, bring value to customers.
At this point, some of you may be thinking, “I can’t wait for 5 years, I need these things today.” The good news is that many companies are racing to build, improve, or buy the technology to address all of these trends. Some already exist in the marketplace, and other new products or services will be launched in the near future. The bad news, as I see it, is that no one will get it just right on the first try. As with any other industry offering, we will see many iterations over the next few years. Each one will improve by using lessons learned from the last iteration. Ultimately, the market will decide which options add value to the practice and patient.
Although I am personally excited to see what the next few years bring, I do have a few words of caution for healthcare providers and practices who are looking to leverage these technologies. First, because these technologies are in their infancy, it is important that you provide frequent feedback to your partners. Let them know what works and what doesn’t. This will help them to develop the functionality that you value. Second, since all of these trends revolve around data, you must be willing to invest time in capturing it. If you don’t have it, you can’t analyze, exchange, or act on it.
I look forward to reading your comments and learning about your views.