Demographic Data: From Commodity to Strategic Planning Asset

Demographic Data: From Commodity to Strategic Planning Asset

Introducing Demographics for Launch Pathway

By Tony Camarata, Morgan Atkins, and Rebecca Groner

iStock-617572744.jpgDemographic data is one of the oldest forms of strategic planning data available. The inaugural US Census was in 1790, which is relatively recent considering the history of census data. Today, demographic data is a basic commodity with detailed information being available on the Census Bureau's website. You can also get this kind of information from numerous established businesses or from a trade association.

While easy access to demographic data is convenient, simply having the information is often not enough. Businesses and organizations looking to use demographic data to find opportunities for growth will need the data to be filtered and organized in a way that makes it useful. This is especially the case for hospitals and healthcare systems.

At Stratasan, we understand that demographic data on its own does not fulfill the needs of a healthcare planner. As experts in healthcare analytics, we know the intricacies of how demographic data must be handled and presented to provide to most value possible.

  • How you segment a population can affect your growth plans.
  • Demographic data needs to be viewed alongside market performance intelligence to understand utilization, potential services, and growth opportunities.
  • Compiling health-specific demographic data (pediatrics, adults, geriatrics) then aligning it with your market (by ZIP code, county, or service area) can be a logistical challenge due to formatting differences between data sets.

Because Stratasan understands and values the needs of our healthcare partners, we are excited to introduce a new Demographics feature within the Launch Pathway platform. This feature was designed with the specific needs of healthcare strategic planners in mind.

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With Demographics for Launch Pathway:

  • You can now view volume and market share side-by-side with demographic data for quick and easy digestion.
  • We’ve segmented the population into the pertinent patient populations: pediatrics, adults, and geriatrics.
  • We keep efforts focused by using the most impactful demographic variables: race, age, ethnicity, and income.
  • We’ve combined market performance with demographics, ensuring that healthcare planners can quickly find the strategic insights they need.

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Traditionally, a demographics tool is given to a planning team for them to slice and dice a sea of data to fit their needs. In this scenario, planners often waste precious time digging through data, trying to find the best way to organize it rather than making decisions based upon it.

Launch Demographics cuts out this endless cycle of data mining. With the added capability of Storyboards within Launch Pathway, planners can quickly convert the useful demographic insights they uncover into elegant presentations that will be automatically refreshed whenever new data is available. 

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Launch Demographics shifts the mindset of demographic data, taking a basic commodity and converting it into need to an integrated and crucial set of insights that can bring new life to your strategic planning meetings.

For more information about Demographics for Launch Pathway or to set up a demonstration of this new feature, contact Sean Conway via Calendly today.

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Article by Tony Camarata, Product Manager, Morgan Atkins, Director of Innovation, and Rebecca Groner, Product Associate for Stratasan

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