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How Outdated Technology Is Costing Your Business

How Outdated Technology Is Costing Your Business

Technology can be frustrating in many ways, especially when it comes time to upgrade. You want the latest on the market, but at what cost? The moment you make a purchase, something newer comes along. Should you wait?

That’s a game IT and management have been playing for years. It’s only become even more apparent as the world shifts to working remotely.

According to a report by CA Technologies, more than $26.5 billion in revenue is lost each year from IT downtime. That translates to around $150,000 annually for each company surveyed. Would that matter to your business model?

One of the biggest obstacles businesses face is in preparedness. They don’t have a proper disaster recovery policy in place, partially because they aren’t willing to spend dollars on something they don’t truly understand. But when you aren’t prepared, you stand to lose even more. That’s something we’ve been learning well this year.

While you may have considered it a smart business decision not to invest in new technology before, it might be harming your business instead. Ask yourself these questions:

Do I rely on technology to be competitive in my field?

It’s hard to run a practice without technology. You use it in patient rooms, to secure PHI, and to check in remotely no matter where you are in the world. What if you could do it faster? What if you could give yourself a competitive edge? What if it could make you more efficient at what you do? Only a technology audit periodically will highlight the various ways you can improve.

Could I save money through an upgrade?

It almost seems counterintuitive; how can you save money by getting new technology? Yet many businesses find that a new system can sometimes eliminate several older applications that no longer suit their needs. And in some cases, the costs drop accordingly. Maybe you no longer have patch issues and help desk costs for patients and employees that can’t operate the system.

Does outdated technology put me at risk?

To follow the guidance of HIPAA, you have to fully protect PHI at all costs. Are you following guidelines even as the world changes? Are your remote workers putting you at risk? Would bringing in infrared and thermal technology give you added security benefits? Maybe a new phone system would better protect doctor/patient conversations. Sometimes what you don’t know really can hurt you. Finding out current options is the best way to shine a light on the things you are missing.

Could I grow faster with better technology?

I’ve always wanted to _____. Has there been an area you wish you could incorporate into your practice, but held back because of technology? Maybe now is the time. People often put their big ideas on hold because they assume upgrade costs will be sky-high. You never know until you evaluate your options. Sometimes your big idea is easier than you imagined.

It all starts with one step forward. Make the phone call. Evaluate your options. Learn all you can.

And you’ll be ready to move forward in a big way.

For IT Strategy, Cloud Conversion, or Help Desk Services reach out to us at Silver Linings Technology 360-450-4759.