In an early May press release API Healthcare, one of the leading healthcare workforce management software providers, announced a partnership with TeleTracking Technologies, known for their large market share in real-time capacity management (a.k.a., bed management) solutions. Both vendors focus exclusively on the healthcare market and will reportedly collaborate to help improve hospital operations by combining their data sets for predictive patient demand modeling.
J.P. Fingado, president and chief executive officer of API Healthcare, acknowledged TeleTracking as “the leader in patient flow automation” and characterized the TeleTracking suite as a “perfect complement to API Healthcare’s full suite of workforce solutions.” Fingado expressed the partnership’s goal to “help healthcare organizations better align patient flow with the strategic deployment of staff, resulting in great care consistency and reduced operational costs.”
Michael Gallup, president and chief operating officer at TeleTracking, voiced his enthusiasm about the strategic move: “Our companies have a shared view of the opportunity to improve care delivery. We look forward to partnering with API Healthcare to help hospitals and health systems everywhere realize the benefits that come from leveraging two powerful sets of data when making decisions that directly impact both efficiency and the quality of care patients receive.”
API Healthcare already recently introduced its version of Health Information Exchange (HIE) in a March 4 announcement of the Health Workforce Information Exchange (HwIE). In contrast with the HIE, which shares clinical data from an Electronic Health Record (EHR), API’s HwIE initiative focuses on sharing workforce data from an Electronic Employee Record (EER), with the objective of driving talent development and utilization enterprise-wide across the health system.
Historically, API Healthcare and Kronos have represented the largest share of the healthcare market in workforce management, with solutions that include time and attendance, human resource and payroll management, and staff scheduling and have had few true challengers in this market space, other than each other. Historical data from MD Buyline’s User Satisfaction Ratings indicate these two vendors have regularly alternated between first and second place, with small differentials in their scores.
Likewise, TeleTracking, an undisputed leader in the capacity management arena, routinely claims the number one spot in MD Buyline’s vendor rankings for this technology.
This union is one that makes a lot of sense and we certainly wish the partners well in their endeavor. After all, who’s not all for more efficient operations and improved patient care? But as high and lofty as the goals sound, hopes for additional revenue generation and market share are undoubtedly underlying factors associated with this venture. Not that we see any fault with that but on the heels of the announcement, it will be interesting to observe what degree of growth the partnership does, in fact, generate for either or both vendors.
And we will, of course, watch with even greater interest to see how the collaboration impacts operational and clinical improvements. It’s really a goal that all parties in the healthcare industry must take on, one way or another, to contribute our fair share towards the overall good!