{"id":15286,"date":"2015-03-17T17:47:53","date_gmt":"2015-03-17T21:47:53","guid":{"rendered":"http:\/\/blog.carecloud.com\/?p=15286"},"modified":"2025-10-23T15:04:19","modified_gmt":"2025-10-23T15:04:19","slug":"march-madness-approach-can-help-make-better-software-decisions","status":"publish","type":"post","link":"https:\/\/carecloud.com\/continuum\/march-madness-approach-can-help-make-better-software-decisions\/","title":{"rendered":"How a March Madness Approach Can Help You Make Better Software Decisions"},"content":{"rendered":"<p>The 2015 NCAA men\u2019s basketball tournament kicks off this week with 68 teams competing for the championship. Predicting the winner isn\u2019t easy, even for the most die-hard fans of men\u2019s college basketball.<\/p>\n<p>There\u2019s a method to the \u201cMarch Madness,\u201d however, that researchers say could help anyone faced with an important decision and several choices. A tournament elimination approach can increase chances of picking the best option \u2014 whether it\u2019s a car, home, or new medical billing software for your practice.<\/p>\n<p><!--more--><\/p>\n<p>So how\u2019s the NCAA basketball tournament approach going to help? Turns out their \u2018sequential tournament\u2019 strategy increases the chance for making the right decision by 50%, economist Tibor Besedes and colleagues report in a <a href=\"http:\/\/www.sciencedaily.com\/releases\/2015\/02\/150203141923.htm\"><strong>new study from MIT Press<\/strong><\/a>.<\/p>\n<p>They compared the effectiveness of three decision-making strategies:<\/p>\n<p><strong>* Simultaneous choice<\/strong> \u2013 considering all options at the same time.<br \/>\n<strong>* Sequential elimination<\/strong> \u2013 choosing one option among an initial group of four, then keeping that choice and comparing it to three new options in each subsequent round until you make a final decision.<br \/>\n<strong>* Sequential tournament<\/strong> \u2013 selecting the best among groups of 4 options, with the winner from each advancing to the next round, analogous to the \u2018March Madness\u2019 approach.<\/p>\n<p>The sequential tournament approach yielded the best choices when Besedes and colleagues asked 111 volunteers to choose among 16 different options. The catch? Participants liked this strategy the least \u2013 it took longer and required them to abandon their previous decisions.<\/p>\n<p>Interestingly, \u2018sequential elimination\u2019 did not drive better decisions than \u2018simultaneous choice.\u2019 People tend to stick with their initial choices when presented with new choices, even if they\u2019re better, the researchers suggest in their \u201c<strong>Reducing Choice Overload Without Reducing Choices<\/strong>\u201d study.<\/p>\n<p>If you\u2019re like most physicians or practice managers, you face important decisions all the time. Many choices you make can have significant financial and other implications for your practice for years to come. Hopefully, the tournament strategy will be worth a try the next time your practice searches to upgrade your electronic health records or to outsource your revenue cycle management.<\/p>\n<p>Speaking of which, if you\u2019re trying to find the best EHR or practice management software, find out why you should include CareCloud in your \u2018March Madness\u2019 style decision-making.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The 2015 NCAA men\u2019s basketball tournament kicks off this week with 68 teams competing for the championship. Predicting the winner isn\u2019t easy, even for the most die-hard fans of men\u2019s college basketball. There\u2019s a method to the \u201cMarch Madness,\u201d however, that researchers say could help anyone faced with an important decision and several choices. A [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":43666,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[238,44,239,240,130,39,241],"class_list":["post-15286","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-revenue","tag-decisionmaking","tag-ehr","tag-march-madness","tag-ncaa","tag-practice-management-software","tag-revenue","tag-tournament"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>&#039;March Madness&#039; Approach Can Help With Big Decisions<\/title>\n<meta name=\"description\" content=\"A tournament elimination strategy can yield the best decisions, economists say. 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