Economic Buyers
Also known as: Budget Holders, Decision Makers, Institutional Buyers
H-BMC Block 3 — the individuals or institutions that control the budget and make the purchasing decision.
Full Definition
Economic buyers are the people or institutions that pay for the solution. In healthcare they are almost always different from users, with different priorities, different success metrics, and a different value case. A solution that is compelling to users but not to economic buyers will not be purchased. The economic buyer analysis must identify who controls the budget, what they care about (cost savings, revenue, efficiency, risk reduction), and what threshold of evidence they require to make a purchasing decision.
Example
For a remote patient monitoring platform: nurses and care coordinators are users. The CFO, CMO, and department heads are economic buyers. The user value case is about workflow. The economic buyer value case is about readmission reduction, reimbursement, and per-patient economics.