Industry is the production of services within an economy. The major source of revenue of a group or company is the indicator of its relevant industry. When a large group has multiple sources of revenue generation, it is considered to be working in different industries.
Information technology is the application of computers and telecommunications equipment to store, retrieve, transmit and manipulate data, often in the context of a business or other enterprise.The term is commonly used as a synonym for computers and computer networks, but it also encompasses other information distribution technologies such as TV and telephones.
A Competitive Advantage
A company gains competitive advantage by providing a product or service in a way that customers value more than the competition’s. However, it is not information technology that gives a company a competitive advantage; it’s the way they use information technology that makes the difference. Companies need to use information technology in an innovative manner.
Innovation is the process of devising ways to do things in new and creative ways. Using information technology to tackle a business problem in the way the other companies have been doing is certainly not going to give a company competitive advantage. The company has to use creative ways to create some thing new their competitors don’t have yet.
Use Information Technology to bridge the gap between business people and technical people
Business people must understand the use of Information technology to gain competitive advantage. In this case, they work hand on hand with technical people to archive this goal; in this process technology brings both parties together and bonds their relationship. Designing an information system that gives a competitive advantage requires at least two things. First, it requires an understanding of the business problem you are trying to solve. Second, it requires an understanding of available technologies to know which ones to use in designing a creative solution for the business problem. It’s very important for business people to study management information systems (MIS). This will help them analyze technical issues if need arises.
The entire health industry is under ever-increasing scrutiny from consumers, competition, and regulators. Rapidly rising costs and mandates for affordable healthcare are squeezing profits and creating an uncertain future for many enterprises. Health industry leaders are turning to technology to meet some very difficult challenges.
A Competitive Advantage
Clients like Xerox, United Health Group, Boston Medical, MyCoreCash have turned to LMK Infotech as an industry-recognized leader in providing technology consulting services and products. We were a very early player in the development of cloud, big data and mobile solutions. Our healthcare clients gain a competitive advantage from our expertise in leveraging emerging technologies to deliver impactful business results
A Successful History in Healthcare and Compliance
Some of LMK Infotech’s earliest successes were in the healthcare industry and in response to unprecedented regulatory compliance requirements. Our resources worked with Xerox in building the Health Insurance Exchange for Nevada. completely automated system, PRIME to support United Health Group customers from initial quote to final sale and throughout the life of the Health Insurance Plan
We have a long history of providing healthcare solutions that address key business areas such as internal collaboration, regulatory compliance, application integration, and customer relationship management. Each of our solutions is backed by real-world experience, business-driven results and a strong understanding of leading edge technology.
LMK Infotech’s healthcare solutions are designed to help you take advantage of the latest innovations in technology to keep your healthcare business on the path to profitability and compliance