Software Executive Magazine

August/September 2017

Software Executive magazine helps software executives grow their businesses by showcasing the business best practices of our readers, executives from established and innovative software companies.

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Page 39 of 43

BRIAN SCHWARZ President Lattice, Inc. Wheaton, IL Lattice provides patient safety software solutions that ensure quality and improve productivity for specimen collection, transfusion adminis- tration, infant feeding, medication administra- tion, and anatomical pa- thology tracking. These applications streamline patient care, bringing error reduction, speed, and efficiency to caregiv- ing in both inpatient and outpatient settings. VERTICALS Healthcare VENDOR PARTNERS Zebra, Honeywell, BlueStar, ScanSource Lattice, Inc. WHAT CHANGES IN CUSTOMER DEMANDS AND EXPECTATIONS HAVE YOU SEEN OVER THE PAST ONE TO TWO YEARS? Top-notch customer service matters even more than it did a few years ago. When smaller com- panies are competing with much large entities, functionality and lower cost may get you in the door, but great customer service (without addi- tional charges) is what drives retention. WHAT IS THE BIGGEST THREAT AND OPPORTU- NITY YOUR BUSINESS FACES? Vendor consolidation in healthcare is the biggest threat. While there are still a significant number of hospitals and health networks that purchase best-of-breed solutions, vendor consolidation can mean that smaller vendors get locked out in exchange for solutions that don't satisfy the end user's functional needs. The biggest oppor- tunity is that there are still a significant number of niche opportunities in healthcare that are too small to be on the radar for the large vendors, but represent a considerable revenue stream for smaller companies. WHAT IS THE TOP METRIC YOU USE TO MEASURE SUCCESS? License revenue has the highest margin, and ev- erything else (professional services and support) is largely driven by that number. License revenue drives our internal metrics, including hiring and growth, and it also drives the hardware and ser- vice revenue for partner VARs and MSPs. WHAT VERTICAL OR NICHE MARKET PRESENTS THE MOST LUCRATIVE OPPORTUNITY IN THE NEXT FIVE YEARS? Outpatient/ambulatory healthcare. Most of the healthcare IT dollars in the past 10 years have fo- cused on inpatient healthcare (within the hospi- tal). We know that one of the drivers for reduced healthcare expenditures is to get people out of the hospital and out of emergency rooms. The challenge from a business perspective is selling into that environment – it's a lot harder to knock on doors in the outpatient space than for inpa- tient healthcare due to the sheer volume. This is a great opportunity for resellers as well, since smaller facilities don't have the in-house IT de- partments that inpatient hospitals do. IN WHAT WAYS WILL MILLENNIALS IMPACT THE WORKFORCE? I have a millennial daughter who is just getting into nursing. Her career is going to evolve in a world where there are always electronic med- ical records and population health, and com- puters always double-check before you give a medication or transfusion to a patient. She's grown up with tablets and smartphones, and her generation isn't going to focus on how to use the technology, but on how the technolo- gy can be used to help patients. Public health- care policy uncertainty and baby boomers just starting to really utilize the healthcare system are going to drive healthcare (the technology channel included) much more than the impact of the millennial generation. IF YOU WEREN'T A SOFTWARE EXECUTIVE, WHAT WOULD YOU BE DOING? Ideally, I'd be a dive instructor and scuba dive in the Caribbean every day! Realistically, I'd still be in the healthcare vertical, likely in a technical role. It's an industry that I care deeply about because it can make a real difference in people's lives. WHAT IS YOUR HIRING PHILOSOPHY? Team fit is more important than any particular skill or specific experience. I want well-trained technical generalists, but it's critical that new hires don't break the existing corporate ethos. WHAT IS THE BEST BUSINESS BOOK ON YOUR SHELF? The best guidance I've received in the past year hasn't been from a book but from podcasts – "How I Built This" and "Corner Office" are out- standing ways of learning from others. S EXECUTIVE PROFILE Spotlight EXECUTIVE PROFILE SOFTWAREEXECUTIVEMAG.COM AUGUST/SEPTEMBER 2017 40 LATTICE, INC.

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