Healthcare Strategic Growth Blog

Show Me the Money: The Finances of Strategic Planning

Posted by Aaron Frazier on Feb 25, 2020 5:47:00 PM

Why it’s Critical for Planners to Keep Budget Top-of-Mind

By Aaron Frazier

As strategic planners set their course for growth in the new year, it’s critical for finances to be top-of-mind. Often, the budget isn’t always a primary focus for planners, who are more locked in on market share and growth opportunities. But it’s an important step worth remembering and in this post, we’ll discuss why. We’ll review the following two areas of consideration:

  • Do you have all the resources you need to fulfill your plan? If not, what will the cost be to acquire the necessary resources?
  • Will the new idea you have planned be profitable? Is it worth the financial risk?

Mindful examination of these questions on the front end will pay off through the year. You’ll hit fewer roadblocks and see more success as you execute upon your growth goals and ideas.

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Tags: strategic planners, strategic planning, healthcare strategic planning, Finances

Top Ten Diseases Urgent Care Centers are Treating

Posted by Daniel Dreaden on Feb 19, 2020 11:44:57 AM

How Patients are Utilizing this Convenient Form of On-demand Care

By Daniel Dreaden

Urgent care centers continue to be a popular alternative for patients in need of care that fits their busy schedules. The convenience of these clinics—with longer hours and broader availability—is appealing to patients seeking fast, reliable relief to minor injuries and illnesses. 

As providers look to meet these needs by opening new urgent care clinics, it helps to know the top diseases being treated at these facilities. The list of diseases shown in the infographic below provides a helpful starting point for urgent care placement discussions. 

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Tags: site placements, urgent care, urgent care clinics, all-payer claims data, apcd

The Value of a Data Aggregation Tool and Partner

Posted by Chris Graff on Feb 13, 2020 11:25:19 AM

The Benefits to Individual Hospitals and the Collective Network

By Chris Graff and Megan Reeves 

A seamless data aggregation process is a priority for any hospital association or state health department interested in equipping their members with reliable market data. The submission, validation, and approval of member facilities’ data should happen effortlessly behind the scenes. Yet for many associations, this process is anything but smooth.

The right data aggregation tool and partner will facilitate a better process, allowing associations to more effectively and efficiently provide their member hospitals with the data they need. In this post, we’ll discuss why the right tool or partner is critical for the overall improvement of healthcare data, as well as for individual hospitals that benefit from having access to more reliable data.

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Tags: Star platform, hospital associations, state associations

Tips and Tricks for How to Maintain Your Physician Database

Posted by Morgan Atkins on Feb 5, 2020 9:42:31 PM

More Efficiently, and Effectively, Manage this Valuable Resource

By Morgan Atkins 

A community Physician Needs Analysis (PNA) is a valuable asset for hospitals looking to meet the needs of their community through service line growth and physician and provider recruitment. But in order to successfully execute a PNA, you first need your physician database (or roster) to be accurate.

The details of a physician database—physician retirement dates, specialties, affiliation status, and so much more—provide a more complete understanding of what’s in your market. This database can help you answer questions such as: Where is there an oversupply (or undersupply) of physicians? What are the referral patterns of the physicians in my service area? Answers to these questions can directly impact your physician strategy.

Maintaining an up-to-date physician database can be a tedious, and often manual, process. The challenge? Collecting all the right information and ensuring that the data you have is current, since physicians are often moving or changing affiliations. In this post, we’ll share the sources we use, and strategies we employ, to make the process of maintaining an accurate physician database more feasible.

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Tags: physician relations, healthcare physician strategy, physician outreach strategy, physician needs analysis, physician strategy

Founder's Perspective: Transitions Are Hard

Posted by Jason Moore on Jan 22, 2020 10:01:57 PM

Leaning into Our Core Values as We Grow

By Jason Moore

Come gather 'round people
Wherever you roam
And admit that the waters
Around you have grown
And accept it that soon
You'll be drenched to the bone.
If your time to you
Is worth savin'
Then you better start swimmin'
Or you'll sink like a stone
For the times they are a-changin'.

Bob Dylan wrote these lyrics in 1963 (released in 1964) concerning much bigger issues of the world, but they certainly feel applicable for this time of growth at Stratasan. With growth comes change. With change comes challenges. And our challenges are not unique to us. Our goal, though, is to be unique in how we solve them. As we face these challenges on a regular basis, we lean on our core values as a foundation of our approach.

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Tags: founder's reflections, growth mindset, teamwork

Leverage Your SWOT for Actionable Market Share Metrics

Posted by Aaron Frazier on Jan 7, 2020 9:56:41 PM

How Hospitals Can Systematically Kick-start Growth Planning 

By Aaron Frazier

Hospital market share is measured by the breadth of services offered, distance to customers, public perception, and physician capacity. While this measurement is valid, it's also becoming increasingly complex to calculate as major shifts happen around how care is delivered. 

As discussed in a recent HealthLeaders Magazine article, “To win the market share battle, healthcare organizations must first redefine what it is and then build strategies that take advantage of the shifts in healthcare delivery.” Author Phillip Betbeze explains that the new indicators of market share include patient access (measured in part by ambulatory services growth, physician practices, and other service locations), physician claims data (outpatient surgery volume and growth, traditional office visits, and even telemedicine), and the cohesive network of services that make them a must-have for insurers’ narrow networks. 

Strategies for how to measure market share (and plan for growth) must change alongside the shifts in care delivery. Executing a SWOT Analysis of your market share allows you to take into account the many new factors impacting care delivery. This analysis will also provide an actionable outline of where to focus when mapping out your strategic growth plan.

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Tags: data analysis, market share, healthcare market share, market share growth, SWOT

[Infographic] The Health of America

Posted by Gavin Chance on Jan 2, 2020 7:00:00 AM

A Look At the Healthiest and Unhealthiest ZIPs in the US

By Gavin Chance 

As we begin a new year, health and wellness are top of mind for many. Americans everywhere are setting New Year’s resolutions to amend bad habits and to lead a healthier, happier lifestyle in 2020.

It can be beneficial to understand the current state of our health as we collectively look to the future and make plans for improvement. This infographic shares statistics and trends about our health as a country, focusing on the following information from 2018:

  • The average amount spent on health

  • The average number of visits to the doctor

  • The number of cigarettes smoked

  • The average amount spent on prescription drugs

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Tags: data visualization, data analytics, healthcare demographics, infographic

Stratasan's Most Popular Blogs of 2019

Posted by Jennifer Keller on Dec 17, 2019 12:09:08 PM

We hope it’s been an incredible year of learning through Stratasan's Strategic Growth blog series. We said goodbye to a dear friend, learned the secrets of the DIKW pyramid, uncovered innovative solutions to the healthcare revenue crisis, and much more.

As we close out the year, we thought it would be helpful to share the five most popular blog posts from 2019. These posts received the most views and seemed to provide useful growth guidance to you, our readers. If you’re traveling over the holidays or just enjoying some downtime before the new year begins, check out these posts that you may have missed or revisit your favorites for fresh insight.

 

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Tags: Blog, strategic growth, health care, healthcare, healthcare strategic growth, 2019

Founder’s Perspective: Builder of People

Posted by Jason Moore on Dec 13, 2019 7:35:00 AM

By Jason Moore

Yesterday was tough. The funeral service and visitation for Melissa “Isse” Waddey, former President of LifePoint Health and my dear friend, was held in Nashville. My best estimate is that between 1,200 - 1,500 people were in attendance to pay their respects. As I listened to story after story about how she affected people in a variety of ways, consistent themes emerged.

A very large group of people who I’ve interacted with over the years had heard of Melissa. When her name would come up in conversation with this group, there were always questions around how she was “skyrocketing” through her career or statements of respect from seeing her speak on various topics. “What is her secret?” was a common follow up question.

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Tags: founder's reflections

4 Steps to Cross-Department Collaboration

Posted by Morgan Atkins on Dec 3, 2019 9:30:42 PM

Increase Productivity and Achieve More as a Team

By Morgan Atkins

For teams looking to create more innovative products and services, it’s key to establish an environment that unites the best thinking from every team. Rather than assigning innovation to one department, open the door for anyone to contribute, especially those with direct access to your customers. Then, for these new ideas to come to life, your organization must also embrace strategies that facilitate cross-department collaboration. 

Here are a few key reasons why cross-department project work is so important:

  • Cross-department collaboration fosters a culture of continuous improvement, where employees take ownership of problems and work together to bring about solutions. (KaiNexus) This mentality lessens the opportunity for finger-pointing as everyone is responsible for resolving issues.  
  • New ideas are more likely to be embraced when there are key shareholders throughout the company involved in the decision-making process.
  • Every team interacts with your customers and product offerings in a unique way, so every perspective is valuable. Feedback from various angles allows for all areas of your company to make ongoing improvements and course corrections.

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