Technology lifecycle management (TLM) is turning out to be increasingly essential across all organizations, but it’s particularly critical in healthcare. A key linchpin of TLM is oversight of the entire technology lifecycle, from needs assessment to the final disposal of the technology asset.
Technology lifecycle management allows you to identify solutions to potential risks before they become serious problems. Here are some key benefits healthcare organizations can expect when you invest in technology lifecycle management.
Reduced Costs
TLM enables healthcare organizations to understand, plan for, and control usage and costs throughout the lifecycle of your technology investments. Managing your technology in this way helps you avoid the hidden costs of aging or end-of-life hardware and software. You’ll gain full information transparency across the technology lifecycle, while reducing employee workloads. Staff should be able to save time and gain productivity in managing their technology assets – whether these assets are medical devices, laptops, or mobile apps.
Improved Efficiency and Patient Care
Academics have pointed to a number of reasons why technology lifecycle management is especially advantageous in healthcare. From a systemic perspective, the introduction of new healthcare technologies often creates inefficiency, according to a scholarly article published in Frontiers in Pharmacology1. Although various stakeholders – such as healthcare providers, manufacturers, regulators, and patients – have interacted at various steps in the process, they haven’t been engaged in a continuous dialogue about what happens over the lifecycle of new technologies.
From the standpoint of assets owned by individual healthcare providers, technology lifecycle management proves helpful in:
- Streamlining technology budgets.
- Offloading stress from overburdened medical and non-medical staff.
- Keeping systems running 24/7.
- Delivering better patient care.
Technology lifecycle management allows healthcare organizations to reallocate budgets to new technology initiatives and resources that ultimately enhance the patient experience.
For Expert Guidance
For years, PAG has helped healthcare organizations like yours save on costs and invest in technologies that ultimately improve the patient experience. Healthcare technology decisions have long-term impact that trickles down to patient care. If you’re looking for expert guidance in creating a custom technology roadmap that supports the future of your healthcare organization, PAG can help. We provide guidance on new technology procurement, audit services that help minimize costs and create room in the budget for key technology investments, and full support for technology lifecycle management. Contact us today to get started.
Source:
1. https://www.ncbi.nlm.nih.gov/pmc/articles/PMC5258694/
