Are you getting the most from your IT investments?
Study conducted by Forrester Consulting shows customers receive a 336% ROI with Imprivata digital identity solutions
During the current COVID-19 pandemic, healthcare organizations have had to move quickly to scale up their healthcare staffing to meet the elevated demands of caring for and treating affected patients. This meant that organizations looked to their own healthcare workers and shifted employees from other parts of the organization, and perhaps even onboarded former or new staff. This resourcing process was deemed so critical and time-compressed that, in many cases, security protocols may had been compromised in order to accomplish the task.
Why did this really happen? They simply weren’t ready for the time-compressed worst-case scenario COVID-19 introduced and were left having to prioritize the healthcare care delivery of patients over security and compliance.
In hindsight – and we are not through this event - a lesson learned from this pandemic is that healthcare organizations need to prioritize and balance their projects between healthcare delivery, efficiency, and safety as well as security and compliance. That very clearly is the need, and neither of the attributes should be ignored. To do so introduces risks across your entire organization; risks such as diminished safety of our healthcare workers, cybersecurity intrusions and hacks including theft of PHI, ransomware, and more.
The good news is, with a solid strategy for managing digital identities organizations don’t have to choose between security and efficiency, they can actually deliver on both. But, in order to prioritize and invest in a digital identity strategy Healthcare IT organizations will need to construct a solid ROI story for the Board and other leadership for their support.
That’s why Imprivata commissioned Forrester Consulting to conduct a Total Economic Impact (TEI) study on our behalf. The study, “The Total Economic Impact™ Of Imprivata Identity Access Management Solutions,” examines the potential ROI realized from using Imprivata digital identity management solutions, including Imprivata Identity Governance, Imprivata Confirm ID, and Imprivata OneSign.
By interviewing existing Imprivata customers and conducting subsequent financial analysis, Forrester found that the interviewed organizations experienced average benefits of $16 million over three years versus costs of $3.7 million, adding up to a net present value (NPV) of $12.3 million and an ROI of 336%.
One customer interviewed for the study commented, “Since implementing Imprivata, we have noticed how easy it is for clinicians to securely and seamlessly transition between workstations and applications and have their identity follow them.”
Other key findings from the study include:
- Increased efficiency in onboarding of employees with Imprivata Identity Governance yielded $2 million in productivity gains;
- Increased productivity of medical professionals using Single Sign-on (SSO) with Imprivata OneSign valued at $3.9 million; and
- Reduced controlled substance prescription time with Imprivata Confirm ID worth $10 million.
Additional benefits cited by customers include improved data security, improved compliance, and reduction of clinical burnout.
Now, more than ever, we’re here to help our customers budget and spend wisely in a manner that helps to balance security and efficiency. Read the full Forrester TEI Study and let us know how we can help you realize your ROI potential.