Healthcare Strategic Growth Blog

Using Reimbursement Data When Entering New Markets

Posted by Jennifer Keller on Apr 13, 2021 2:32:23 PM

Improve Your Negotiation Strategy and Establish Favorable Market Rates

By Jennifer Keller

When talking to clients in the midst of scaling operations in a new market, the question of how to establish attractive market rates often comes up. Entering a new market with rates too high can be a deterrent for growth and setting the right rates can be challenging.

The right data, insights, and tools are key to identifying the sweet spot when setting rates and planning for payer negotiations.  

Often, payer negotiations are driven by a team’s working knowledge of the market rates, or based on insufficient input from outside consultants. In this post, we’ll discuss how to use reimbursement data effectively when entering new markets and preparing for negotiations. 

We’ll discuss what data is needed, what new insights can be found, and how the right data can help your organization grow more successfully.

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Tags: healthcare strategic growth, market research analysis, market reimbursement analyzer, reimbursement

Star Platform Updates that Deliver Clarity, Confidence, and Support

Posted by Steve Erro on Mar 29, 2021 11:13:20 AM

Improving the Process of Data Correction and Submission

By Steve Erro 

Stratasan’s tools were designed to help healthcare institutions grow with confidence. In order to deliver the best possible experience, we strive to always provide the following: 

  1. Clarity through data transparency and a world-class data process
  2. Confidence through technological expertise and comprehensive data insight
  3. Support resulting from our dedication to a positive customer experience

Our commitment to these deliverables can be seen through the continued enhancement of our data aggregation and reporting platform, Star. Stratasan’s Star Platform is a web-based offering that enables state hospital associations to expedite the submission, validation, and aggregation of their member facilities’ data.

Star users gain access to trustworthy data, delivered faster and in a more complete and accurate format. This data can be reliably used to make sound market decisions.

In this post, we share more about the updates made to this tool and how they’re closely aligned with our goals to deliver a unique level of clarity, confidence, and support to our customers.

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Tags: state data, Star platform, data aggregation, data submission

[Part 3] Looking Ahead: Successful Strategic Planning After COVID-19

Posted by Lee Ann Lambdin on Mar 22, 2021 10:56:53 AM

Tools to Revive your Planning Strategy 

By Lee Ann Lambdin 

With this final post in our series on how to adjust and renew your approach to strategic planning in the wake of COVID-19, we’re discussing what tools you can utilize to support your efforts. If you missed the first two posts, click here to learn how to effectively use 2020 data, and here for suggestions on how to refocus priorities upended by COVID-19.

If you’re at the point of revisiting your 2021 strategy, or taking steps to set the course for what strategy should look like post-COVID, then the tools shared in this post will help you along the way.

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Tags: strategic planning, healthcare strategic planning, hospital strategic planning, COVID-19

[Part 2] Looking Ahead: Successful Strategic Planning After COVID-19

Posted by Lee Ann Lambdin on Mar 9, 2021 2:00:34 PM

How to Refocus Priorities Upended by COVID-19

By Lee Ann Lambdin 

In our first edition of this blog series, Evaluating 2020 Data—Is It Useful or Not? we discussed how to approach and make sense of 2020 data and use it for strategic planning. In this post, we’ll build upon that idea and consider how strategic planners can adjust and refocus their priorities after a disruption of such magnitude as COVID-19.

How can strategic planners start again? By moving forward in the face of many unknowns and building a new strategy based on a year of data irregularities. The insights shared here will hopefully provide a starting point to do so.

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Tags: strategic planning, healthcare strategic planning, hospital strategic planning, COVID-19

[Part 1] Looking Ahead: Successful Strategic Planning After COVID-19

Posted by Lee Ann Lambdin on Mar 9, 2021 12:39:50 PM

Evaluating 2020 Data—Is it Useful or Not?

By Lee Ann Lambdin 

When 2020 budgets and strategic plans were set in the fall of 2019, no one could have imagined that by the following March, they’d be useless. Plans created for 2021 may be no better off, as they were established in the midst of a pandemic. How can strategic planners start again? What data and analytics should be used when 2020 trending is out of the question?

This is the first post of a series where we’ll discuss how strategic planners can regain focus, make sense of the data collected during COVID-19, and approach planning for the future. In this post, we’ll discuss how to approach 2020 data differently. In the next two posts, we’ll offer some actionable advice. 

Let’s dive in and talk about how to reconcile 2020 data and use it effectively in strategic planning.

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Tags: data analytics, data strategy, healthcare data analytics, COVID-19, 2020

3 Reasons Hospitals Need Their State Associations (and Vice Versa!)

Posted by Megan Reeves on Feb 15, 2021 10:15:00 AM

Why This Relationship is Critical for the Success of Both Organizations

By Megan Reeves

Most hospital associations identify as the principal advocate for their respective state's hospitals and healthcare systems. While they exist to serve and support, their essential value is sometimes overlooked or taken for granted. In this post, we’ll cover some of the top reasons hospitals need their state associations and how this partnership can be crucial to growth. We’ll also touch on why hospitals are critical to the associations as well. It’s a symbiotic relationship, and its value increases the more each partner invests in the other.

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Tags: healthcare data analytics, Star platform, hospital associations, state associations

Tips and Tricks for How to Maintain Your Physician Database

Posted by Morgan Atkins on Jan 26, 2021 11:45:00 AM

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.

Don't miss this related post: Top Methodologies for Determining Physician Need

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

Quiz: How Strong is Your Strategic Planning Process?

Posted by Lee Ann Lambdin on Jan 12, 2021 1:20:00 PM

Does your hospital have a good strategic planning process in place? How frequently is the plan updated and does it impact your day-to-day work and growth planning? Take this short quiz and find out how your team is doing with strategic planning!

With this quiz, you'll receive:

  • Immediate feedback as to how good your team is at strategic planning
  • Tips and best practices for improving your strategic planning process
  • Insights about the value of strategic planning to meet growth, quality, service, and physician relations goals
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Tags: strategic planning, healthcare strategic planning, hospital strategic planning

CMS Hospital Price Transparency: Everything You Need to Know

Posted by Morgan Atkins on Jan 5, 2021 2:15:59 PM

Key Details Related to This Ruling

By Morgan Atkins

On November 15, 2019, the final price transparency rule was issued by CMS. It went into effect on January 1, 2021. Here's what hospitals need to know about the goal of this ruling and what they have to do to achieve compliance. 

The Cliff Notes 

A couple of key points hospitals should keep in mind:

  • All hospitals must participate, though it’s not applicable to federally owned hospitals (VA, IHS, Tribal)
  • Prices must be updated annually

There are two essential parts to the ruling:

Part 1: Hospitals must share a comprehensive list of standard charges. The list must be in a single machine-readable file format. 

Part 2: Hospitals must share a consumer-friendly list of 300 shoppable services. 

  • CMS lists 70 services that must be included in the 300; hospitals can select the other 230
  • There’s no requirement for how to post this list, i.e., a machine-readable format is not required. And the listing requirement is waived for hospitals already providing internet-based price estimator tools for patients.
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[Infographic] The Health of America

Posted by Gavin Chance on Dec 28, 2020 7:00:00 AM

A Look At the Healthiest and Unhealthiest ZIPs in the US

By Gavin Chance 

Even more so than in the past, health and wellness are top of mind as we begin a new year. Americans everywhere are setting New Year’s resolutions and hoping for a healthier, happier 2021.

It can be beneficial to understand the past 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

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