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HCI Webinar: The Financial Downturn and Vendor Negotiations

February 18, 2009
by daphne
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Yesterday, Healthcare Informatics hosted a webinar that actually talked about a positive side to this economic mess: namely, that you can use it to come out ahead in your vendor negotiations. I probably liked the webinar so much because the speaker was Vince Ciotti, who has a down to earth, no nonsense approach and decades of real world experience. And lots of true stories. Vince shoots from the hip.

Vince took us through vendor selection and negotiation in today’s market step by step, with real, concrete advice—things like lose the RFP, contract questionnaires, deal breakers, and how to tell if the vendor REALLY is going to be your partner. He also told us how to structure a contract, hidden costs and including maintenance and cost details. I think Vince used the word “usury” a lot! I would sure want him on my side if I was cutting a deal. And all of the info was keyed to what is going on TODAY.

He reminded everyone that in these tough times, the vendors HAVE to sell—to earn their commission, to make their quota, to please Wall Street. But YOU don’t have to buy. It’s a great time to cut deals, and he shows you exactly how.

It’s a buyer’s market right now. If there’s anything good CIOs can get out of the economic downturn, this is it. If I was a CIO even beginning to think about buying a new system, Vince’s advice would be invaluable. You can listen to it here, and if that doesn't work, here:

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