Clinical communication - a hot trend or maybe not? The market may not be trending that way?
We are in the era of the mobile-first workforce, and that also includes communication in the hospital among clinical staff. There has been a significant investment by healthcare providers to improve communications among the clinicians to enhance patient care and experience. Question is how much will healthcare providers spend on clinical communication software? Will the organization move towards an enterprise contract over $1M USD, or will they continue the current momentum of focusing purely on the nurse call system, which is a lot cheaper.
Vocera stock recently dropped over 21% during the last close, even though they had a strong revenue quarter with key bookings. Vocera secured a massive win at UT Southwest selling the Vocera platform, and two international deals in London and Abu Dhabi.
There are lots of vendors playing in the space, including the EMR systems and third-party point solutions such as Spok, Patientserve, Tigerconnect, Imprivata, Cerner, and Voalte (Hillrom).
Healthcare providers have a long contract cycle ranging from 12-18 months for enterprise agreements. How will that affect the revenue forecasting for these vendors?
Q4 is historically slow for sales.
What are the competitive differences among these solutions in the market?
The critical question is, can these clinical communication solutions mature as a platform of choice for healthcare providers, or will it just be a clinical communication point solution