Technical Debt is a concept that is important to understand in today’s orthodontic practice. As we make the digital transformation and integrate more software and hardware into orthodontics, the issues of software updates, poor digital product development, bugs, code, infrastructure, APIs, and service become just a few of the digital challenges we encounter. TechDebt may be something we experience by way of our vendors or through the digital services we use or provide.
As an orthodontist, you may wonder how to modernize your business using technology while avoiding Technical Debt hindering your progress. Technical Debt is a company’s cost when fixing existing technology issues. According to research, it accounts for about 40% of IT balance sheets. Companies often pay an additional 10 to 20 percent to address tech debt on top of the costs of any project. Therefore, breaking the vicious cycle of technical Debt and becoming tech-forward is essential.
Strategy
The first step is a more strategic approach to resolving Technical Debt. This is where we gain insights into how TechDebt affects the value we create in an orthodontic practice. We may implement a new digital system and suffer Technical Debt when we have yet to invest in the learning curve. We can also incur TechDebt when we update linked systems, for example, in different operating systems. Maintenance is required to update the code when software and hardware are updated. Over time, our technology requires updates and may lose service when companies stop supporting the technology.
Insights
Next, you must build an edge in insights, structural commitment, and execution. The insights edge involves having transparency tied to financial value with an accurate and detailed accounting of Tech Debt. We must gain insights into this TechDebt by documenting assets, data, and their links to business value. Developing this kind of balance sheet requires calculating the time lost by our team to deal with problems resulting from tech debt and the costs of resolving the TechDebt itself. Analyzing Tech Debt at the asset level, such as an application or a database, is important to see how each piece connects to value. One common example in orthodontic practices comes with our digital practice management systems. We must understand its utility, functionality, updates, or lack of updates. Sometimes, we must consider another DPMS to keep up with value-adding integrations and tools we can add to our practice.
Execution
Lastly, execution is key. Having the right people and tools to execute the strategy effectively is important. We must effectively manage TechDebt built up in our practices and update digital systems when our current tools and workflow no longer add the required value. In orthodontic practice, we can manage with our internal team to make the changes. In addition, we can outsource to consultants and vendors to carry us through the strategy, or often we need both.
Conclusion
As an orthodontist, you can modernize your business using technology while minimizing Technical Debt by developing a strategy to break the vicious cycle of Technical Debt, gaining an insights edge, and executing effectively. By taking these steps, you can become tech-forward and make the most out of technology to grow your business and serve your patients better.
