Carpe diem is the clarion cry of hospitals confidently leaping into the future to do business online. That industry trend has spurred the launch of Third Millennium Healthcare Systems. This new healthcare arm of the Internet solutions company Third Millennium Communications (3MC) in Atlanta joins a handful of newcomers pursuing the $10 billion "connectivity" market. Connectivity players provide specialized Internet solutions to connect a variety of healthcare participants: providers, patients, payers and suppliers. 3MC's direct competition is Healtheon Corp., an Internet technology firm in Santa Clara, Calif.
Connectivity services, together with e-commerce and advertising/sponsorship, are among the top three money-making areas for healthcare on the Web, according to a new study by San Francisco-based research firm Hambrecht & Quist.
Third Millennium is zeroing in on the electronic claims market with Internet software that will carry an average price tag of $250,000. This IT investment replaces paper claim forms with electronic claims and can save hospitals millions, says Foster North, a 24-year healthcare industry veteran hired to lead the new agency. North joins Third Millennium after a 14-year stint with a $2 billion health plan Allina Health System, where he was responsible for organizing diversified services efforts among eight divisions
Use of the Internet to transmit healthcare information received a major boost in legitimacy when the Health Care Financing Administration finalized its standards for online transactions in November. Those standards can be viewed on the HCFA Web site at http://www.hcfa.gov/security/isecplcy.htm.
Although the industry is eager to hear how Internet solutions are efficient, earning online trust is the key challenge. North spoke with HPRMN recently about its marketing plans to earn customer confidence in two major areas: safety and reliability.
Third Millennium Healthcare Systems can be reached at 404/687-2811.
HPRMN: What positioning opportunities will the agency pursue?
FN: We are looking to become the one-stop educational resource on Internet solutions for our clients. The online value-added benefits we're considering offering include daily news feeds about healthcare reimbursement, links to other relevant sites like HCFA and providing interactive access about various areas of employee reimbursement.
HPRMN: Since the healthcare industry is behind other industries in using the Internet for IT solutions, how will your agency establish trust?
FN: We are relying on the power of word of mouth. We are hand-picking customers that are good prospects and seeking to build partnerships with them.
The Web-based billing and tracking system we've developed for our first client, Emory Clinic in Atlanta, allows us to market to other medium to large clinics. We're working on a case study [involving the Emory Clinic] that shows the potential cost-savings of electronic claims and reduced labor.