brandsmart presentation by dan michelson - june 2011
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TRANSCRIPT
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Welcome to Jazz
Marketing
June - 2011
Dan Michelson
CMO
Allscripts
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What in the World Is It?
Why Does It Matter Me?
Welcome to Jazz
Marketing
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Our Reality in Marketing…
• No one has all of the answers anymore• The pace of change (and new things)
intimidates us• We’re making it up as we go along• Our people often know more than we do
It’s Time to Think VERY Differently
X
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“One of the best books I have ever read in my life on the subject of leadership and business management philosophy.” - Sam Walton, Founder of Wal-Mart
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The way we were…• Turn Your Back to Your Audience• The Leader is Elevated/Omniscient• Follow a Script/Song Sheet• Execute with Absolute Precision• Execute Anyone Who Makes a Mistake
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• Leverage diversity, creativity
and spontaneity
• Exploit the unique potential of
every person
• Hold people accountable (but give
them space to make mistakes)
• Inspire change and innovation
(but maintain a sense of stability)
• Leaders step aside at times to
be followers themselves
Leadership is like playing jazz…it's more art than
science
Marketing
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1. Merging Two Competitors in 20 Minutes
2. Fixing Channel Conflict with a BMW
3. Moving a Market with One Word (in the Wrong Color)
4. Capturing Mind Share with a Book
5. Putting Your Clients to Work…in Africa
Jazz Marketing Examples from the Front Line
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First a Little Context…
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History:AllergiesProblemsMedicationsImmunizations
Information:Best PracticesClinical Trials
Actions:PrescriptionLab OrderReferral
Communication:EducationRx RenewalLab ResultsOn-Line Bill PaySchedule Appt.
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Allscripts Market Capitalization ($MM)July 1999 - Present
Market capitalization reflects shares outstanding multiplied by price per share.
Allscripts Value ~$300
MM
Allscripts Value
~$3.6 BB
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About Allscripts…
From a “Marketing” Perspective
11 years
150 to 6,000
$50 million to $1.5 billion
3 in 6 years
CMO TENURE
EMPLOYEE GROWTH
REVENUE GROWTH
RECENT MERGER VELOCITY
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1. Merging Two Competitors in 20 Minutes
2. Fixing Channel Conflict with a BMW
3. Moving a Market with One Word (in the Wrong Color)
4. Capturing Mind Share with a Book
5. Putting Your Clients to Work…in Africa
Jazz Marketing Examples from the Front Line
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Scenario:
Two Companies (Competitors) are
Merging:
•Similar Size
•Very Different Cultures
•Hate Each Other
•Each Thinks They Acquired the
Other
Challenge:
How Do You Get 2 to
Become1 in 20?
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Let’s Build it…Together.
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Two companies coming together to form a single, dynamic organization“A” for Allscripts and an “M” for Misys, interconnected into a new symbol to reflect our past, but signal a new, singular direction
Connecting Healthcare Help physicians and providers shift from a disconnected ‘healthcare’ silos into a connected system of ‘health
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the two minute drill to inform/inspire…- 2 Become 1- 150,000/700/1- The End of the Beginning…- It’s Time to Connect to Health™
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1. Merging Two Competitors in 20 Minutes
2. Fixing Channel Conflict with a BMW
3. Moving a Market with One Word (in the Wrong Color)
4. Capturing Mind Share with a Book
5. Owning a Major Trade Show with a Blood Drive
Jazz Marketing Examples from the Front Line
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Scenario:
• Overlapping Products
• Competing Sales Channels
How to Immediately Move Past This Both Externally
and Internally?
Challenge:
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Introducing…
The Allscripts EHR FamilyHigh Performance Now Comes in Three Versions…
MyWay™
$325
Professional™
$445
Enterprise™
$595
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1. Merging Two Competitors in 20 Minutes
2. Fixing Channel Conflict with a BMW
3. Moving a Market with One Word (in the Wrong Color)
4. Capturing Mind Share with a Book
5. Putting Your Clients to Work…in Africa
Jazz Marketing Examples from the Front Line
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Scenario:
• $40bb in Federal Funding
• Uncertainty on How it Will Work
• Skepticism on Whether it is Real
How Do You Become “the
Trusted Choice”?
Challenge:
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In Uncertain Times, He (or She!) Who Holds the Map,
Others Will Follow.
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News Release Allscripts Applauds Economic Stimulus
Incentives Rewarding Physicians for Using Electronic Health Records
Client Survey Results Point to Rapid Adoption
CHICAGO, Feb 17, 2009 /PRNewswire-FirstCall via COMTEX/ -- In letters sent today to President Obama and members of the United States Congress, Allscripts congratulated the President and the leadership of Congress on the enactment of the American Recovery and Reinvestment Act of 2009, which for the first time provides financial incentives to physicians who adopt and use Electronic Health Record technology (EHR) to improve both the quality and cost- effectiveness of patient care. Studies demonstrate that effective use of Electronic Health Records reduces medical errors, improves clinical quality and leads to better patient outcomes by enabling real-time access to patient records, medical information and best practices, and electronic connectivity to all healthcare stakeholders, including patients.
In addition to its other components focused on economic stimulus, the law provides $20 billion in health information technology funding. The total includes $2 billion in discretionary funds and $18 billion for investments and incentives through Medicare and Medicaid to ensure widespread adoption and use of interoperable healthcare IT systems such as the Electronic Health Record. Physicians who have not adopted certified Electronic Health Record systems by 2014 will have their Medicare reimbursements reduced by up to 3 percent beginning in 2015.
With the stimulus, the Centers for Medicare and Medicaid Services (CMS) will pay physicians between $44,000 and $64,000 over five years, beginning in 2011, for deploying and using a certified Electronic Health Record to care for patients. The stimulus package is expected to ignite significant job growth in the information technology sector and, according to a Congressional Budget Office review of the legislation's impact, drive up to 90 percent of US physicians to adopt Electronic Health Records in the next decade.
A recent Allscripts survey of 1,888 healthcare professionals revealed that 98 percent of physician practices would take advantage of the incentives or would be closely evaluating the opportunity.
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1. Merging Two Competitors in 20 Minutes
2. Fixing Channel Conflict with a BMW
3. Moving a Market with One Word (in the Wrong Color)
4. Capturing Mind Share with a Book
5. Owning a Major Trade Show with a Blood Drive
Jazz Marketing Examples from the Front Line
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Mind Share
Ambulatory EMR: WIN RATES, REPLACEMENTS, AND PROVIDER LOYALTY– February 2011: N = 387 Responses
Which Vendor Are You Most Likely to Select?
Allscripts has leading “mind share”
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1. Merging Two Competitors in 20 Minutes
2. Fixing Channel Conflict with a BMW
3. Moving a Market with One Word (in the Wrong Color)
4. Capturing Mind Share with a Book
5. Putting Your Clients to Work…in Africa
Jazz Marketing Examples from the Front Line
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The Allscripts Client Experience
3,300
201020092008200720062005200420032002
130
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Experience
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“You want $20,000?”
“OK, we’ll give you $30,000.”
Experience
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But Things Change…News Release
Allscripts and Eclipsys to Merge, Creating New Healthcare
Information Technology Leader
CHICAGO and ATLANTA, June 9, 2010 /PRNewswire via COMTEX/ --Allscripts (Nasdaq: MDRX), the leading provider of clinical software, information and connectivity solutions for physicians, and Eclipsys (Nasdaq: ECLP), a leading enterprise provider of solutions and services for hospitals and clinicians, today announced a definitive agreement to merge in an all-stock transaction valued at approximately $1.3 billion.
The combination of Allscripts and Eclipsys will create a clear leader in healthcare information technology, with the most comprehensive solution offering for healthcare organizations of every size and setting. Under terms of the merger agreement, Eclipsys stockholders will receive 1.2 shares of Allscripts for each share of Eclipsys, a 19 percent premium based on the June 8th closing price.
By combining the leading physician-office and post-acute care solutions from Allscripts with Eclipsys's leading enterprise solutions for hospitals and health systems, the combined company will offer a single platform of clinical, financial, connectivity and information solutions. The combined company's client base will include over 180,000 U.S. physicians, 1,500 hospitals, and nearly 10,000 nursing homes, hospices, home care and other post-acute organizations. The combined company will be positioned to connect physicians, other care providers and patients wherever care is provided-in the hospital, in small or large physician practices, in extended care facilities, or in a patient's home - resulting in the unique ability to deliver a single patient record and a seamless patient experience.
Time to Improvise…Again
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What in the World Is It?
Why Does It Matter Me?
Jazz Marketing
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Jazz Marketing • Leverage diversity,
creativity and spontaneity
• Exploit the unique potential of every person
• Hold people accountable (but give them space to make mistakes)
• Inspire change and innovation (but maintain a sense of stability)
• Leaders step aside at times to be followers themselves
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Welcome to Jazz
Marketing
June - 2011
Dan Michelson
CMO
Allscripts