Stratasan Blog

Your Market Share is Increasing - So What?

Why It’s Critical to Analyze Multiple Market Factors For True Growth Insight

By Ashley Graham

Imagine this scenario: You’re a strategic planner for a healthcare organization, and you discover that your facility has gained market share in your service area. Excited, you put the trended market share into a colorful graph and show it to your executive team.

“Great! So what?

On the surface, this may seem like an odd question. Increased market share is desirable, right?

Well, probably, but by asking ourselves “so what,” we can see that more than just trended market share is needed to provide true strategic value.

How to Strategically Manage Analyst Overload and Master Your Work Queue


By Taylor Smith and Anusha Achukola

As we saw in last week’s blog post, many hospitals and healthcare systems are challenged with having too many analyst needs and too few analysts to complete all the work. As an in-house analyst—working on your own or as a part of a team—you are likely facing a long queue of requests and wishing you could somehow find a better solution to keep up with the demand.

As the amount of data that healthcare organizations collect continues to grow at a rapid rate, the volume of information you and your team will be tasked with analyzing will only continue to grow as well. Without the right tools and workflows, you will continue to struggle to balance it all. 

In last week’s post we outlined a few suggestions for how to overcome the ongoing healthcare analyst shortage. In this post, we’ll address this same issue—but from your perspective.

Specifically, if you are an analyst buried under a pile of reports to be done, we’ve got some practical ways you can update your workflow and manage your work queue—getting more done in less time and with fewer errors.

Healthcare Analysts are in Short Supply: How to Overcome the Challenge

by Lee Ann Lambdin

I hired a great analyst a few years ago. She was skilled with database programs, understood the complexities of the healthcare market, and had previously been a medical records coderin short, she was very talented. The longer she was in her position, the more our state data was reported accurately and on a reliable schedule. It was a huge win for me and my team!

Recognizing her capabilities, I asked if she could start running "quarterly standard reports" that present key findings which could influence how our planning, marketing, and business development departments would function and what we would focus on in the weeks and months to come. These quarterly updates would be high-level summaries of our market landscape and would cover everything from our hospital’s market share, trended volume, competitor positions, product lines, payor mix, patient migration patterns and more.

 

 

Know Your Customer Like Never Before, Part 3: Tapestry Segmentation and Wealthy Urban and Suburban Populations

As learned in the first and second installments of this blog series, it can be quite useful to use Esri's Tapestry Segmentation to target specific populations that your hospital, system, or physicians serve. Tapestry Segmentation was designed specifically to understand your customer’s lifestyle choices – what they buy and how they spend their free time. This information gives Stratasan, and our clients, insights that help identify facility’s patient types, optimal sites for hospitals, physician offices, FSERS, and urgent care locations. We use the Tapestry Segmentation dataset to help our clients get higher response rates, focus on the most profitable growth opportunities, and invest their resources in the best ways possible.

Know Your Customer Like Never Before, Part 2: Targeting Older (40+) Rural Populations

 

As we know from the first post in this series, Esri's Tapestry Segmentation is diverse and quite different depending on the part of the country in which you live. Tapestry was designed specifically to understand customer's lifestyle choices – what they buy and how they spend their free time. This information gives Stratasan, and our clients, insights that help identify facility’s patient types, optimal sites for hospitals, physician offices, FSERS, and urgent care locations. We use the Tapestry Segmentation dataset to help our clients get higher response rates, focus on the most profitable growth opportunities, and invest their resources in the best ways possible.

5 Tips for Maximizing Your Time at SHSMD

 

 

Like any big conference, attending the Society of Healthcare Strategy & Market Development (SHSMD) Connections can be an overwhelming experience. Headed into its 20th year as an event, SHSMD Connections 2016 is taking place September 11 - 14 in Chicago. With an estimated 1,400+ healthcare marketing, public relations and communications, and strategic planning professionals on-site, 60 sessions to choose from, 8 targeted learning tracks, and more than 4 hours worth of keynote sessions, it’s easy to see how this could be an enriching experience, but it can also feel like you’re drinking from a firehose.

Know Your Customer Like Never Before: Stratasan and Tapestry Segmentation

Know thy customer. It's marketing and product development 101. In order to fully meet the needs of the consumers in your service area, you must first have a thorough and detailed understanding of who they are. Only then will you be equipped to grow the appropriate services lines to accurately meet their needs. And only then will you be able to target your marketing outreach to let the right consumers know about the services you have developed just for them.

Stratasan, through the use of Esri's Tapestry Segmentation, is positioned to equip your hospital and health system for strategic growth and targeted consumer outreach. This post, and the related post in the series to come, will pull back the curtain, explaining how and why we are equipped to walk your team through the process of getting to know your customer like never before.

Increase Marketing ROI: Use Data to Focus Your Outreach

*This post is based on information shared in a webinar co-presented by Stratasan’s SVP of Healthcare Strategy, Lee Ann Lambdin and TenAdam’s President, Jon Headlee. For the full presentation, watch the webinar.

Target Practice: Using Data to Focus Your Marketing

Most hospital and health system marketing and planning teams are familiar with the basics of strategic growth planning. This includes ensuring that your mission is favorable to growth, creating measurable goals, and developing a well-planned strategy for execution.

Choosing the Right Data Source for your Physician Relations Program

In the modern healthcare landscape, the need for reliable physician intelligence and a strategic physician relations strategy is only continuing to grow. With 32 million newly insured Americans entering the healthcare system as a result of the Affordable Care Act and a physician shortage—projected to climb to more than 90,000 by 2020—healthcare providers must have a comprehensive understanding of the physician relationships within their market, the available service line opportunities, and an accurate measure of inbound and outbound patient trends in order to stay ahead of the growing healthcare need.

When building a physician relations strategy, it is important for healthcare providers to be tapped into a reliable data source and a trustworthy physician referral tool. An understanding of the datasets available and reasons why certain physician tools use certain datasets can empower you to make the right decision in the tool that will best suit your needs.

Using the best available data can provide a clear roadmap for health providers focused on strategic growth. By fostering effective communication with physicians, relations experts can identify trends, issues, and opportunities and ultimately improve the overall quality of patient care delivered to their service area by accurately understanding the market needs. There are three main data sources to consider. Use of one or more of these datasets can be helpful when building a well-rounded physician relations strategy.

Webinar: Psychographics

Hospital Strategic Planning: Psychographics

Speaker: Lee Ann Lambdin - VP of Strategic Planning, Stratasan