Every healthcare organization is under pressure to reduce costs, and a good place to start is by making sure you’re not overpaying for your current investments, especially your data catalog.
Whether you’ve already got a data catalog in place or you’re considering one soon, here are four questions to consider with your team:
1. “Are we being charged extra for coaching and support?”
If your data catalog doesn’t include ongoing support from a team of longtime healthcare data experts, you’re paying more than you need to.
The ongoing process of keeping your catalog up to date is going to require a few hours a week of upkeep and attention, and you shouldn’t be paying extra when questions come up and you need some advice. The best data catalogs understand this, and they’ll build in free coaching so you can keep your data governance program going strong, without exorbitant fees.
2. “Are we paying for features we’ll never need?”
If you’re using the same data catalog as global banks, investment firms, and retail brands, you’re probably paying for a lot more features than you actually need. Be sure to find a data catalog that includes everything your healthcare organization needs—and nothing it doesn’t.
3. “Do we need to free up funds for other initiatives?”
Have you been eyeing your data catalog subscription and wondering if it’s a line item you can eliminate? Remember, it’s costly and chaotic to operate without a data catalog, so it’s better to keep what you have than ditch it entirely, but many healthcare organizations can reclaim a significant amount of their budget by right-sizing their costs.
If you choose a data catalog that’s streamlined, powerful and healthcare specific, you’ll pay less and get more.
4. “Are we spending more than $100,000 a year on our data catalog?”
The size of your healthcare organization may impact your investment, but no one should be paying more than six figures annually for their data catalog.
So, what’s the next step?
The good news is, if you suspect you’re paying too much for your data catalog, there are better options available. Start by looking at a more streamlined solution that’s specifically designed for the needs (and budgets) of healthcare organizations. And, to minimize disruptions and make the transition easy, be sure to find a solution that has consultation, support, and implementation services all built in.
Spend less and get more from your data catalog.
Compendium was built to address the unique challenges facing healthcare leaders. Learn more today.
